$999,000
1329 35 Highland Ave National City, CA 91950
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$999,000
Est. payment /mo
6,647 Sqft Lot
Price Dropped by $50K
1329 35 Highland Ave National City, CA 91950
UPDATED:
10/07/2024 06:47 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240020950SD
HOA Y/N No
Year Built 1954
Lot Size 6,647 Sqft
Acres 0.1526
Property Description
Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the RETAIL building, offering significant expansion opportunities. Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease. Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month. Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment. Don?t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE). Property Overview: Charming property on Highland Ave in National City, featuring two 2-bed, 1-bath cottages with private yards and a commercial building with a successful appliance repair business. This unique offering combines residential comfort with commercial potential, providing steady rental income and future development opportunities. Residential Units: Unit 1329: Remodeled in 2020, earning $2,350/month. Current tenants are on a month-to-month lease. Unit 1333: Long-term Section 8 tenant, paying $1,700/month for over 17 years, ensuring stable rental income. Commercial Building: Current Use: Occupied by a thriving appliance repair business, generating $2,000/month. Potential: Located in a high-traffic area with visibility and accessibility. Development Opportunities: Zoning: Allows for up to 3 additional residential units, making a total of 6 units possible. This zoning flexibility offers significant growth potential. Location: Highland Ave: High visibility, across from Walmart. Residential units are set back for a quiet living environment despite the busy area. Accessibility: Easy access to highways and amenities. Investment Potential: Income Stream: Diverse with stable residential and commercial leases. Future Growth: Potential for added residential units increases rental income and investment value. Important Notes: Tenant Privacy: Do not contact tenants directly; inquiries and showings via the listing agent only. Verification: Information is reliable but not guaranteed; buyers should verify all details. Condition: Buyers should conduct inspections. Contact Information: For more details, to schedule a viewing, or to make an offer, contact the listing agent. This property offers a rare blend of residential comfort, commercial income, and growth potential. Don?t miss this exceptional opportunity!
Location
State CA
County San Diego
Area 91950 - National City
Zoning MCR-2
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
View Y/N Yes
Roof Type Composition
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 5610131800
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Listed by Ramin Karimi • Pemberley Realty Inc.
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