Pleased to present a true value-add opportunity in the high demand central San Diego rental market of City Heights. The asset provides the opportunity for an investor to acquire a centrally located asset in a rapidly appreciating location with the ability to increase revenue through the construction of two shovel-ready ADU's as well as unit renovations upon turnover. The existing ownership has approved and paid permits to convert the existing rear 4 car garage structure into (2) additional 466 SF ADU units. Immediate construction of the additional two ADUs may commence. Upon completion of ADU's and renovation of the remaining 5 unrenovated units, the property is forecasted to produce a 5.41% cap rate. This proforma figure includes the cost of ADU construction.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
