725 731 E 16th Street Active Save Request In-Person Tour Request Virtual Tour
National City,CA 91950
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision National City
MLS Listing ID 240020786SD
Year Built 1959
Lot Size 6,342 Sqft
Property Description
**Owner may carry with 40% down** Great for a 1031 exchange! Location, location.... this is what you've been waiting for with one of the best locations in National City! Amazingly LOW-MAINTENANCE 4-unit INCOME property in the heart of National City, featuring 2 two-bedroom/one-bath units and 2 one-bedroom/one-bath units. Two-car garage plus 4 off-street parking spaces. Generates $7173 in gross monthly rent from LONG-TERM Section 8 tenants, all of whom are single occupants. Incredibly stable income with appx 86% of the rent paid for by National City Housing Authority. Two tenants of 4+ years, two tenants of 25+ years… Looking for even MORE INCOME? Buyer MAY be able to convert the garage into an ADU/5th unit. Situated in a desirable location close to shopping, the post office, and dining amenities near Highland Ave. Shown ONLY with an accepted offer. All of the units have separate gas and electricity meters. Owner pays the water bill --averaging a total of $65 per month! Very low maintenance lot with nicely paved driveway and parking spaces, and very little landscaping to worry about. The 2-car garage has been partitioned, and is used by one tenant for laundry and storage, while the owner uses the majority of the garage space for personal storage. Do the same, or generate even more income by leasing out the garage. Note: The vacant lot behind the property is NOT part of the sale -- it belongs to another owner. There is some space behind the garage that belongs to this property, but not much space.
Location
State CA
County San Diego
Area 91950 - National City
Building/Complex Name 16th / Highland - National City
Zoning RES-MULTI
Interior
Heating Natural Gas
Cooling None
Exterior
Fence Partial
Pool None
View Y/N Yes
Roof Type Composition
Building
Story 2
Others
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan