33
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$1,159,000
Est. payment /mo
3 Beds
3 Baths
5,946 Sqft Lot
New
429 Garfield Street Oceanside, CA 92054
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2609687
Bedrooms 3
Lot Size 5,946 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Exceptional investment and development opportunity west of I-5 in coastal Oceanside! Ideal for investors, developers, or short-term rental (STR) hosts. California's SB 9, together with state and local ADU laws, offers the potential for up to four residential units on this property. The existing home is an updated 3-bedroom, 2.5-bath residence on an approximately 6,000 sq. ft. lot with alley access. Two bedrooms currently generate $3,000/month in rental income, primary suite could yield est $1,800/month more, and completion of approved garage ADU conversion could add another est $1,800/month, for a potential $6,600/month without constructing new building. With construction of new building, total rental revenue is estimated at $216,000 / year. Plans for the additional units, including the approved garage ADU conversion, are completed. Recent improvements to existing house include new roof, HVAC (A/C and heat), en-suite primary bath, Milgard windows, and more. Seller has paid approx $15k to City for increased water capacity and has obtained SDG&E approval for a 400-amp electrical upgrade. Detailed plans and receipts are available.
Location
State CA
County San Diego
Zoning Assessor
Direction West of I-5
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 1502420800
Acceptable Financing Cash, Conventional, FHA, VA
Listing Terms Cash, Conventional, FHA, VA
Listed by Robyn Goodkind, DRE#01702897 Goodkind Properties
NEARBY SCHOOL & BUSINESS
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