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350 Brightwood Ave
Chula Vista, CA 91910
Multifamily Property For Sale
·
2 Units
Executive Summary
This unique property offers two updated homes on one lot, creating an excellent opportunity for both investors and owner-occupants.
The front home at 352 Brightwood is a beautifully remodeled 2-bedroom, 1-bath residence offering approximately 733 SF. Recent updates include brand-new interior paint, luxury vinyl plank flooring, cabinetry, mini-split HVAC systems, a new water heater, and a water softener. The home also features an attached one-car garage and is currently leased at $2,900 per month on a one-year lease, providing immediate rental income.
The rear home at 350 Brightwood is a successful, fully operational Airbnb that has been consistently rented since September 2024. The home offers 3 bedrooms and 3 bathrooms, plus a bonus/game room with a closet and full bathroom that can easily function as a fourth bedroom. At approximately 1,800 square feet, the home features updated finishes, individual mini-split systems in each bedroom, an attached tandem garage, and a private backyard with a covered pergola, creating a great space for guests to relax. The property generated over $90,500 in Air BnB gross revenue last year and is currently on track to achieve similar performance this year.
Whether you're looking for a strong investment opportunity with multiple income streams or the flexibility to live in one home while generating rental income from the other, this turnkey property offers a rare combination of updated condition, proven income history, and long-term potential (additional opportunity for a VA Buyer to assume the loan, which sits at $1,125,000 and a 4.75% interest rate).
**Call Agent with any questions: Brad Milburn (858) 585-2939
The front home at 352 Brightwood is a beautifully remodeled 2-bedroom, 1-bath residence offering approximately 733 SF. Recent updates include brand-new interior paint, luxury vinyl plank flooring, cabinetry, mini-split HVAC systems, a new water heater, and a water softener. The home also features an attached one-car garage and is currently leased at $2,900 per month on a one-year lease, providing immediate rental income.
The rear home at 350 Brightwood is a successful, fully operational Airbnb that has been consistently rented since September 2024. The home offers 3 bedrooms and 3 bathrooms, plus a bonus/game room with a closet and full bathroom that can easily function as a fourth bedroom. At approximately 1,800 square feet, the home features updated finishes, individual mini-split systems in each bedroom, an attached tandem garage, and a private backyard with a covered pergola, creating a great space for guests to relax. The property generated over $90,500 in Air BnB gross revenue last year and is currently on track to achieve similar performance this year.
Whether you're looking for a strong investment opportunity with multiple income streams or the flexibility to live in one home while generating rental income from the other, this turnkey property offers a rare combination of updated condition, proven income history, and long-term potential (additional opportunity for a VA Buyer to assume the loan, which sits at $1,125,000 and a 4.75% interest rate).
**Call Agent with any questions: Brad Milburn (858) 585-2939
Property Facts
| Price Per Unit | $747,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.46% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 11.9 | Building Size | 2,514 SF |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 1.19/1,000 SF |
| Zoning | R-3 - Multi-Family 10 units or less | ||
| Price Per Unit | $747,500 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,514 SF |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 1.19/1,000 SF |
| Zoning | R-3 - Multi-Family 10 units or less |
Amenities
Unit Amenities
- Storage Space
- Vaulted Ceiling
- Yard
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,950 | 1,000 |
| 3+3 | 1 | $7,514 | 1,514 |
Property Taxes
| Parcel Number | 568-261-19 | Improvements Assessment | $424,483 |
| Land Assessment | $774,681 | Total Assessment | $1,199,164 |
Property Taxes
Parcel Number
568-261-19
Land Assessment
$774,681
Improvements Assessment
$424,483
Total Assessment
$1,199,164
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