Approximately 20%+ upside in rental income. The Valle Avenue Apartment Homes is an excellent 5 unit cash flowing investment property in San Diego. An opportunity exists to add up to 4 ADUs on site (9 potential units). This is an attractive property located in Logan Heights, which is about 3.5 miles from Downtown. The property consists of 4 detached buildings spread out on a large double lot totaling 14,068 sq. ft. The majority of units have been meticulously renovated throughout and have record setting rents for the neighborhood. The unit mix consists of (1) 4-Bed/3-Bath Detached House, (1) 3-Bed/2.5-Bath Town-Home, (1) 3-Bed/1.5- Bath Town-Home, (1) 3-Bed/2-Bath Detached Unit connected to the garages, and (1) 2-Bed/1-Bath Detached House all totaling approximately 5,683 sq. ft. There are 12 on-site parking spaces and (3) single car garages. Each unit has its own laundry hooks-ups and equipment. Unit upgrades include stainless steel appliances, granite counter tops, new light fixtures, recessed lighting, hardwood floors, plank flooring, dimmer switches, new cabinets, soft close drawers, high quality doors, wood beams, improved hardware, dishwashers, tailor made crown molding, 2 inch blinds, two toned paint, and insulation of interior walls. There is also added shelving, high end closet doors, walk-in closets, USB charging ports, bathroom & shower tiles, and many one off handmade unit accessories. Property upgrades include dual paned windows, sliding glass doors, custom fencing, security gates, concrete work, custom woodwork, and low maintenance landscaping.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
