1990 Harrison Ave, Logan Heights, CA 92113

Property Description

4 units with two newly constructed 2BR/1BA units, an extensively remodeled 2BR/1BA home, and a remodeled 1BR loft. Two units are currently vacant, providing immediate flexibility for an owner-user, market-rate lease-up, or investor seeking control of the rental schedule. The two new construction units are approximately 750 SF each and currently rent for $2,900/month and share a laundry room. The detached home is approximately 1,150 SF with in-unit laundry and projected rent of $3,200/month, while the approximately 350 SF loft is projected at $1,872/month. $125,400 reported gross scheduled income, 12.56 GRM and approximately 5.57% cap rate at the current asking price. The property offers a compelling combination of newer construction, extensively renovated existing improvements, strong income, vacant-unit flexibility and limited anticipated near-term capital needs. Additional features include rooftop decks, porches, views, high-end finishes and a convenient location near Downtown San Diego. A strong opportunity for investors or owner-users seeking renovated 4-unit product with significantly less deferred maintenance than much of the surrounding inventory. Offering Memorandum available in the MLS documents. Virtual tours available for the detached home and loft.