22
See all 22 photos
$1,550,000
Est. payment /mo
8 BD
4 BA
0.25 Acres Lot
Active
5920 Streamview Drive San Diego, CA 92105
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UPDATED:
12/29/2024 07:52 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PTP2407674
Bedrooms 8
HOA Y/N No
Lot Size 0.254 Acres
Property Description
Exceptional Investment Opportunity Fully Occupied Fourplex with Approved Plans for Expansion! Presenting 5920 Streamview Dr., a rare gem in San Diego offering immediate cash flow and incredible value-add potential. This fourplex, built in 1964, features four 2-bedroom, 1-bathroom units with dens, each spanning 963 sq. ft., totaling 3,854 sq. ft. of rentable space. Located in a highly desirable area near parks and schools, this property is perfect for investors seeking stability and growth. The property is fully occupied, generating a current monthly rental income of $9,900. With an annual gross income of $118,800, operating expenses of $23,296, and a net operating income (NOI) of $95,504, the property boasts a solid 6% cap rate. But the potential doesnt stop there. Approved plans and permits are almost ready and could be transferred for an additional $150,000, allowing for the addition of four new units, creating a total of 8 units. The new plans include: Two 4-bedroom 2-bathroom units (1,195 sq. ft. each) in a 2-story building. Garage conversion into two ADUs: 1 two-bedroom, 1-bathroom unit (548.7 sq. ft.) 1 one-bedroom, 1-bathroom unit (405 sq. ft.) These additions could generate an additional $12,000$14,000 in monthly income, bringing the total gross annual income to $262,800 and achieving a projected 8.5% cap rate post-construction. Highlights: Turnkey Property: Well-maintained with modern updates and good curb appeal. Prime Location: Close to schools, parks, highways, and public transportation. Growth Potential: Expansion plans add significant value and income potenti
Exceptional Investment Opportunity Fully Occupied Fourplex with Approved Plans for Expansion! Presenting 5920 Streamview Dr., a rare gem in San Diego offering immediate cash flow and incredible value-add potential. This fourplex, built in 1964, features four 2-bedroom, 1-bathroom units with dens, each spanning 963 sq. ft., totaling 3,854 sq. ft. of rentable space. Located in a highly desirable area near parks and schools, this property is perfect for investors seeking stability and growth. The property is fully occupied, generating a current monthly rental income of $9,900. With an annual gross income of $118,800, operating expenses of $23,296, and a net operating income (NOI) of $95,504, the property boasts a solid 6% cap rate. But the potential doesnt stop there. Approved plans and permits are almost ready and could be transferred for an additional $150,000, allowing for the addition of four new units, creating a total of 8 units. The new plans include: Two 4-bedroom 2-bathroom units (1,195 sq. ft. each) in a 2-story building. Garage conversion into two ADUs: 1 two-bedroom, 1-bathroom unit (548.7 sq. ft.) 1 one-bedroom, 1-bathroom unit (405 sq. ft.) These additions could generate an additional $12,000$14,000 in monthly income, bringing the total gross annual income to $262,800 and achieving a projected 8.5% cap rate post-construction. Highlights: Turnkey Property: Well-maintained with modern updates and good curb appeal. Prime Location: Close to schools, parks, highways, and public transportation. Growth Potential: Expansion plans add significant value and income potential. This is your chance to own a high-performing asset in one of San Diegos most sought-after rental markets. Whether youre looking to maintain strong cash flow or take advantage of the approved expansion opportunity, this property checks all the boxes for savvy investors. Contact us today to request more details. Dont miss out on this outstanding investment!
Exceptional Investment Opportunity Fully Occupied Fourplex with Approved Plans for Expansion! Presenting 5920 Streamview Dr., a rare gem in San Diego offering immediate cash flow and incredible value-add potential. This fourplex, built in 1964, features four 2-bedroom, 1-bathroom units with dens, each spanning 963 sq. ft., totaling 3,854 sq. ft. of rentable space. Located in a highly desirable area near parks and schools, this property is perfect for investors seeking stability and growth. The property is fully occupied, generating a current monthly rental income of $9,900. With an annual gross income of $118,800, operating expenses of $23,296, and a net operating income (NOI) of $95,504, the property boasts a solid 6% cap rate. But the potential doesnt stop there. Approved plans and permits are almost ready and could be transferred for an additional $150,000, allowing for the addition of four new units, creating a total of 8 units. The new plans include: Two 4-bedroom 2-bathroom units (1,195 sq. ft. each) in a 2-story building. Garage conversion into two ADUs: 1 two-bedroom, 1-bathroom unit (548.7 sq. ft.) 1 one-bedroom, 1-bathroom unit (405 sq. ft.) These additions could generate an additional $12,000$14,000 in monthly income, bringing the total gross annual income to $262,800 and achieving a projected 8.5% cap rate post-construction. Highlights: Turnkey Property: Well-maintained with modern updates and good curb appeal. Prime Location: Close to schools, parks, highways, and public transportation. Growth Potential: Expansion plans add significant value and income potential. This is your chance to own a high-performing asset in one of San Diegos most sought-after rental markets. Whether youre looking to maintain strong cash flow or take advantage of the approved expansion opportunity, this property checks all the boxes for savvy investors. Contact us today to request more details. Dont miss out on this outstanding investment!
Location
State CA
County San Diego
Area East San Diego (92105)
Zoning Assessor
Building
Story 2
Others
Acceptable Financing Cal Vet, Cash, Conventional, Exchange, FHA, VA
Space Rent $2,300
Listing Terms Cal Vet, Cash, Conventional, Exchange, FHA, VA
Listed by Khalid Yarash • CA-RES