210-12 Del Mar Ave 3 Unit Apartment Building $1,100,000 ($366,667/Unit) 3.69% Cap Rate Chula Vista, CA 91910

This 3-unit property for sale, situated at 210-212 Del Mar Ave., is located in an excellent north Chula Vista neighborhood. There is approximately 21% upside potential in rental income for this investment. The unit mix includes a charming 2-bedroom/1-bathroom detached house, a duplex with two 1-bedroom/1-bathroom units, and a detached single-car garage located in the alley. In addition, residents share three on-site parking spaces. 1944 year built, 1,688 sq. ft., with a 6,266 sq. ft. lot per title. Long-term residents on month to month leases. Projected rents are $1,950 for the 1/1 units, $2,700 for the 2/1 house, potential 5.22% Cap Rate, and a 13.88 GRM. The real estate is in proximity to major freeways, downtown San Diego, San Diego Bay, and the Bayfront redevelopment. For savvy investors, there's a possibility to build a 4th unit (ADU) at the back of the parcel. This would further increase income-generating possibilities and add exceptional value in the long term. An opportunity exists here to own a rental property in one of the strongest rental communities San Diego has to offer.