Listing ID210022876
Sold For$1,052,500
StatusSOLD
SqFt
5,169
Acres
0.120
CountySan Diego
Year Built1957
Property Type2-4 Units
LOCATION, LOCATION, LOCATION! This 4-unit property is in the highly sought after 3rd Avenue Village District of Chula Vista. Walk to restaurants, the park and the Chula Vista Mall. Located in a "Transit Focus Area": New zoning allows construction of 20 to 30 units and some parking variances. Great development property that allows developer to receive income while going through permitting process. Rents have upside across the board. Property consists of (1) commercial unit, (1) 2 bed/1 bath unit, & (2) 1 bed/1 bath units on a 5,169 SF lot.
County
San Diego
City
Chula Vista
Price Before Reduction
1150000
Price Reduction Date
2021-09-13T19:26:56+00:00
Property Type
2-4 Units
Year Built
1957
Zoning
UC-2(Comm)
Cooling
N/K
Heat Equipment
Wall/Gravity
Heat Source
Electric
Levels
1 Story
Total Stories
1
Unit 1 Estimated SqFt
500
Unit 1 Laundry Hook Ups
No
Unit 1 Number of Bedrooms
1
Unit 1 Number of Full Baths
1
Unit 1 Number Total Baths
1
Unit 2 Estimated SqFt
400
Unit 2 Laundry Hook Ups
No
Unit 2 Number of Full Baths
1
Unit 2 Number Total Baths
1
Unit 3 Estimated SqFt
700
Unit 3 Laundry Hook Ups
No
Unit 3 Number Bedrooms
2
Unit 3 Number of Full Baths
1
Unit 3 Number Total Baths
1
Unit 4 Estimated SqFt
500
Unit 4 Laundry Hook Ups
No
Unit 4 Number of Bedrooms
1
Unit 4 Number of Full Baths
1
Unit 4 Number Total Baths
1
Unit Number for Unit 1
462 1/2
Unit Number for Unit 2
462
Unit Number for Unit 3
464 1/2
Unit Number for Unit 4
464
Entry Only
no
Exterior
Wood
Fencing
Partial
Frontage
N/K
Irrigation
N/K
Lot Size
4,000-7,499 SF
Neighborhood
Downtown Chula Vista
Number of Buildings
2
Number of Units
4
Number of Units w/Patios
3
Number of Units w/Range/Oven
3
Number of Units w/Refrigerator
3
Parking for RV
None Known
Parking Garage Unit 1
N/K
Parking Garage Unit 2
N/K
Parking Garage Unit 3
N/K
Parking Garage Unit 4
N/K
Parking Non-Garage Unit 1
Uncovered
Parking Non-Garage Unit 2
Uncovered
Parking Non-Garage Unit 3
Uncovered
Parking Non-Garage Unit 4
None Known
Pool
N/K
Pool Heat
None Known
Roof
Composition
Sewer/Septic
Sewer Connected
Site
Public Street, Sidewalks, Street Paved
Spa
N/K
Spa Heat
None Known
Water
Meter on Property
Water District
SWEETWATER AUTHORITY
Water Heater Type
Gas
Community
CHULA VISTA
Complex/Park
3rd Ave
Country
United States
Jurisdiction
Incorporated
Market Area
South Bay
Topography
Level
Zip/Area
CHULA VISTA (91910)
Additional Property Use
Res/Business Use OK
Pets
No Pets Allowed
Property Type
2-4 UNITS
Age Restrictions
N/K
Annual Expense Actual
21376
Annual Expense Projected
21376
Cap Rate Actual
3.82
Cap Rate Projected
4.83
Financing
Conventional
Gross Rent Multiplier Act
16.8
Gross Rent Multiplier Projected
14.3
Gross Scheduled Income Actual
65400
Gross Scheduled Income Projected
76800
Home Owners Fee Includes
N/K
Net Operating Income Projected
53120
Other Fee Type
N/K
Possession
Close of Escrow
Sale/Rent
For Sale
Sales Restrictions
N/K
Short Sale
no
Tenant Pays
Cable TV
Terms
Cash, Conventional, Exchange
Unit 1 Deposit
1250
Unit 1 Projected Rent
1500
Unit 1 Rent Actual
1250
Unit 2 Deposit
1400
Unit 2 Projected Rent
1600
Unit 2 Rent Actual
1400
Unit 3 Deposit
1550
Unit 3 Projected Rent
1800
Unit 3 Rent Actual
1550
Unit 4 Deposit
1250
Unit 4 Projected Rent
1500
Unit 4 Rent Actual
1250
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Contact - Listing ID 210022876
Lawrence Dy
11440 W. Bernardo Ct #300
San Diego, CA 92127
Phone: 8584491253
Phone Alt: 8584491253
Data services provided by IDX Broker