2241-2247 Prospect
Property Description
2241-2247 Prospect Street offers two distinct investment strategies in one asset. A value-add investor can pursue substantial rental upside across the property, while an owner-user can occupy the detached three-bedroom home and benefit from income generated by the four additional units. The physical separation of the detached residence from the income units is a meaningful differentiator for buyers who want the economics of multifamily ownership without living in a conventional apartment setting. The current rent roll is materially below the stated conservative pro forma. Excluding the owner-occupied unit, current collected rent totals approximately $8,300 per month. Stabilized pro forma rent across all five units is approximately $13,550 per month, creating approximately $5,250 per month / $63,000 per year of potential gross rental upside before considering vacancy, collection loss, turnover costs, repairs, capital expenditures or other operating expenses. This property is located in one of the most desirable areas of National City with peek-a-boo views of the Bay.
Broker Details
Coldwell Banker (619) 460-6600
MLS ID: 656354 State License Number: 01846535
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,599,000 |
| No. of Units: | 5 |
| Lot Size: | 5,046.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $319,800 |
| Property Website | Click Here |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 5 |
ID: 3yd-SANDICOR-260023075
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