Property listed by Landmark Multifamily and Devel, Miles Slater 408-368-5225
559 61st St
San Diego, CA 92114
$1,975,000
559-565 61st Street is a rare opportunity to acquire a 7 unit multifamily asset situated across four separate structures on a large 15,606 square foot lot. The property features a desirable unit mix of (6) 2 bedroom/1 bathroom units and (1) 4 bedroom/2 bathroom unit, providing broad tenant appeal and… Read More strong occupancy potential. Current rents remain below market, creating a clear opportunity to increase cash flow through interior renovations, strategic lease up, and professional management. An existing RUBS program provides supplemental income while helping offset utility expenses. Encanto remains an attractive investment submarket driven by its relative affordability, strong neighborhood character, and convenient access to transportation. The property is located within walking distance of the Encanto/62nd Street Trolley Station, offering direct connectivity to Downtown San Diego. The property is located within a Federal Opportunity Zone, offering significant tax advantages for qualifying capital gains investments. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
MixedUse
Lot Size
0.36 Acres
MLS Number
260015251SD
Additional Details
Building
4 buildings
Expenses
Operating: $62,650
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $170,616, Net Operating Income: $99,436
Lot
0.3583 acres
Parking
12 total parking spaces
Taxes
Parcel Number: 5490521000
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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