Listing ID220014906
Sold For$802,500
StatusSOLD
CountySan Diego
Year Built1973
Property Type2-4 Units
We are pleased to present 54-58 Smith Ave located in Chula Vista, California. Built in 1973, the property features two very spacious 1 bedroom / 1 bath units, and one non-conforming 1 bedroom / 1 bath with a private fenced front yard. All units have walk-in closets, large kitchens with dining area, and charming living rooms. The property benefits from a solar system that services two of the units plus the laundry room. There is a garage, assigned 2 parking spaces, a large storage room, and onsite laundry. There is significant value add potential through rent increases and renovations, additionally there is the opportunity to live in one unit and benefit from the income from the other two units. The property is located in the desirable West Chula Vista neighborhood, a very strong rental market that experienced approximately 17% rent growth in 2021. OFFERS DUE BY JUNE 28TH, 2022
County
San Diego
City
Chula Vista
Property Type
2-4 Units
Year Built
1973
Zoning
R-3
Cooling
Central Forced Air
Heat Equipment
Wall/Gravity
Levels
1 Story
Total Stories
1
Unit 1 Estimated SqFt
900
Unit 1 Laundry Hook Ups
Common
Unit 1 Number of Bedrooms
1
Unit 1 Number of Full Baths
1
Unit 1 Number Total Baths
1
Unit 2 Estimated SqFt
900
Unit 2 Laundry Hook Ups
Common
Unit 2 Number of Bedrooms
1
Unit 2 Number of Full Baths
1
Unit 2 Number Total Baths
1
Unit 3 Estimated SqFt
500
Unit 3 Laundry Hook Ups
Common
Unit 3 Number Bedrooms
1
Unit 3 Number of Full Baths
1
Unit 3 Number Total Baths
1
Unit Number for Unit 1
1
Unit Number for Unit 2
1
Unit Number for Unit 3
1
Complex Features
Laundry Facilities
Entry Only
no
Exterior
Brick, Stucco
Fencing
N/K
Frontage
N/K
Irrigation
Sprinklers
Lot Size
4,000-7,499 SF
Neighborhood
West Chula Vista
Number of Buildings
2
Number of Units
3
Number of Units w/Garage
1
Number of Units w/Patios
1
Number of Units w/Range/Oven
3
Number of Units w/Refrigerator
3
Number Units w/Cooling
2
Number Units w/Dishwashers
1
Parking Garage Unit 1
Detached
Parking Non-Garage Unit 1
Assigned
Parking Non-Garage Unit 2
Assigned
Roof
Composition
Sewer/Septic
Sewer Connected
Site
N/K
Spa
N/K
Spa Heat
None Known
Water
Meter on Property
Water District
SWEETWATER AUTHORITY
Community
CHULA VISTA
Complex/Park
NA
Country
United States
Market Area
South Bay
View
N/K
Zip/Area
CHULA VISTA (91910)
Additional Property Use
N/K
Miscellaneous
N/K
Property Type
2-4 UNITS
Telecommunications
N/K
Age Restrictions
N/K
Annual Expense Actual
13784
Annual Expense Projected
13784
Cap Rate Actual
4.73
Cap Rate Projected
6.09
Financing
Cash
Gross Rent Multiplier Act
14.9
Gross Rent Multiplier Projected
12.53
Gross Scheduled Income Actual
52740
Gross Scheduled Income Projected
63000
Home Owners Fee Includes
N/K
Net Operating Income Projected
48431
Other Fee Type
N/K
Other Income Actual
240
Other Income Projected
1140
Possession
Call Listing Agent
Sale/Rent
For Sale
Sales Restrictions
N/K
Short Sale
no
Tenant Pays
Cable TV
Terms
Cash, Conventional
Unit 1 Deposit
1395
Unit 1 Projected Rent
1900
Unit 1 Rent Actual
1395
Unit 2 Deposit
1750
Unit 2 Projected Rent
1900
Unit 2 Rent Actual
1850
Unit 3 Deposit
995
Unit 3 Projected Rent
1495
Unit 3 Rent Actual
1150
Contact - Listing ID 220014906
Lawrence Dy
11440 W. Bernardo Ct #300
San Diego, CA 92127
Phone: 8584491253
Phone Alt: 8584491253
Data services provided by IDX Broker
