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637 E 2nd Street

National City, CA 91950
  • $1,550,000
  • STATUS: ACTIVE
  • ON SITE: 113 Days
  • ID#: 230016019
UPDATED: 81 min ago
$1,550,000
  • 1
    BEDS
  • 0.34
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

631-37 E 2nd Street is a 15-unit property that consists of a 1 bedroom / 1 bath unit and fourteen SRO units, one of which has a private bathroom. The other units share 3 jack and jill bathrooms and a common kitchen. There are solar panels over the parking area reducing electricity costs and 10 parking spaces. The property is located on a large 14,831 square foot lot and consists of a 4,344 square foot structure that was built as a duplex. BUYER TO VERIFY SQUARE FOOTAGE AND LEGAL NUMBER OF UNITS. Seller holds a CA Real Estate License.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.gellens.com/homes/142542205
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637 E 2nd Street National City, CA 91950

  • Price: $1,550,000
  • Status: ACTIVE
  • On Site: 113 Days
  • Updated: 81 min ago
  • ID#: 230016019
1
Beds
2
Baths
0
½ Baths
0.34
Acres
Neighborhood:
National City (91950)
County:
San Diego
Area:
National City (91950)
Property Description
631-37 E 2nd Street is a 15-unit property that consists of a 1 bedroom / 1 bath unit and fourteen SRO units, one of which has a private bathroom. The other units share 3 jack and jill bathrooms and a common kitchen. There are solar panels over the parking area reducing electricity costs and 10 parking spaces. The property is located on a large 14,831 square foot lot and consists of a 4,344 square foot structure that was built as a duplex. BUYER TO VERIFY SQUARE FOOTAGE AND LEGAL NUMBER OF UNITS. Seller holds a CA Real Estate License.
Exterior Features

Parking Spaces Total 10

Interior Features

Sq Ft Of Improvement 4344

Property Features

Actual Cap Rate 6.87 Actual Gross Operating Income 161595 Actual Gross Scheduled Income 166968.0 Actual Operating Expense 55440 Actual Vacancy And Credit Loss 5009 Assumable Finance 0 Buildings 1 Gross Equity 1050000 Gross Multiplier 9.3 Have Units Leased Apartments 15 Mandatory Remarks None Known Market Area South Bay Monthly Rent Total 13914 Motive Want 1031 Present Loan 500000 Projected Cap Rate 7.97 Projected Gross Multiplier 8.4 Projected Gross Operating Inc 179023 Projected Gross Scheduled Inc 184560 Projected Net Income 122968 Projected Operating Expense 55440 Projected Vacancy And Credit Loss 5537 Short Sale No Unit Number1 1 Unit Number2 1 Unit Number3 13 Unit Rent Total1 1450 Unit Rent Total2 1000 Unit Rent Total3 11284 Unit Rent1 1450 Unit Rent2 1000 Unit Rent3 868

San Diego MLS logo Listing provided courtesy of Benn Vogelsang of Northmarq Multifamily: 415-250-4947. Listing information © 2023 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
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