Stylish Cash-flowing Multi-Unit in Trendy Normal Heights
In Escrow in one week!! Contact Adam: 858-761-1707 for back-up offers or to get your property sold.
Great opportunity for investors and owner occupants alike! Charming Front house is a 2 bed, 1 bath, 863 sq ft. Front house has recently upgraded bath and, kitchen upgraded about 5-10 years ago, is open to dining and living area. 2 Back units are identical 1/1 units, 560 sq ft w/private back patios. There is a 2-car garage and driveway that fits 2-3 cars. Both back units have their own washer/dryer & front unit has hook-ups in garage. Front house has a fenced front yard with new landscaping. Backyard was opened up to be an inviting common area with covered bar, sitting area, deck, fireplace and small yard. Roof is newer, too. Rents total $5150 currently, but could easily be raised $500/month more. Some Tenants month-to-month, so an owner occupant could buy and move-in 60 days later, but keep 2 tenants to pay the mortgage. Current Cap rate of 5.7% & projected 5.9% for investors!
- Property Type: Multi-Unit
- Bedrooms: 4
- Bathrooms: 3
- Square Footage: 1,983
- Price: $899,000 - 949,000
- Lot Size: 6012
- Year Built: 1939
- Number of Units: 3
- Gross Yearly Income: $61,800
- Operating Income: $50,800
- Gross Rent Multiplier: 14.6
- Cap Rate: 5.7
Property Features: 4447-49-51 Cherokee Ave
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