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1343 Highland Ave
National City, CA 91950
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Mixed use income stream, 2 residential units plus 2 commercial suites in one acquisition
- Substantial rental upside, current gross income of $30,000/year against market gross income of $86,400/year, an 80.7% increase
- Manageable four unit scale, well suited to a private investor or 1031 buyer
- Highland Ave frontage
- Immediate lease up opportunity with the vacant residential and office units
- Renovated 1 bed 1 bath unit
Executive Summary
3 units operating as 4 units, mixed use investment on Highland Ave, one of National City's designated mixed use commercial corridors. The offering combines two residential units at the rear of the parcel with two ground floor commercial suites fronting Highland Ave, giving an investor a blended income stream with substantial upside as commercial rents are brought to market and the vacant office suite is leased up.
Unit mix is (1) 2BR/1BA residential, (1) 1BR/1BA residential currently vacant, (1) salon suite, and (1) office suite, currently vacant. Building is 1,908 SF on a 6,151 SF (0.14 AC) lot, zoned MXC-2, Major Mixed Use Corridor, which permits high intensity, transit oriented mixed use redevelopment up to 65 feet and 5 stories, with density up to 75 dwelling units per acre.
Current gross income is $30,000/year against a market gross income of $86,400/year, representing 80.7% upside. Two rear residential units provide stable, easier to manage income, while the two front facing commercial suites (a salon and a vacant office) offer immediate lease up opportunity. Manageable four unit scale suited to a private investor or 1031 buyer or someone looking to live in one unit and rent out the others.
Listed at $895,000. Buyer to verify year built and all square footages. Contact listing agents for OM.
Unit mix is (1) 2BR/1BA residential, (1) 1BR/1BA residential currently vacant, (1) salon suite, and (1) office suite, currently vacant. Building is 1,908 SF on a 6,151 SF (0.14 AC) lot, zoned MXC-2, Major Mixed Use Corridor, which permits high intensity, transit oriented mixed use redevelopment up to 65 feet and 5 stories, with density up to 75 dwelling units per acre.
Current gross income is $30,000/year against a market gross income of $86,400/year, representing 80.7% upside. Two rear residential units provide stable, easier to manage income, while the two front facing commercial suites (a salon and a vacant office) offer immediate lease up opportunity. Manageable four unit scale suited to a private investor or 1031 buyer or someone looking to live in one unit and rent out the others.
Listed at $895,000. Buyer to verify year built and all square footages. Contact listing agents for OM.
Property Facts
Property Taxes
| Parcel Number | 561-013-17 | Improvements Assessment | $234,600 |
| Land Assessment | $545,700 | Total Assessment | $780,300 |
Property Taxes
Parcel Number
561-013-17
Land Assessment
$545,700
Improvements Assessment
$234,600
Total Assessment
$780,300
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