Property Detail
Description
Price Reduction! 14 existing Renovated units + plans for 20 new units cash flowing at an amazing current Cap Rate of 6.5% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027. Preliminary plans to add 20 new units to achieve an unheard 12% Cap Rate, 6.5 GRM, and only 166k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The preliminary plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units in the front for a total of 20 new units. The 14 existing units have undergone many capital improvements including updated roof, electrical, plumbing, windows, interiors, exteriors, etc.
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Listing provided courtesy of Armin Soleimani of Global Platinum Properties, Inc.. Last updated 2025-07-17 08:11:16.000000. Listing information © 2025 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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