7% cap rate! Approximately 7% based on current scheduled rents and stated expenses, this upgraded Golden Hill triplex offers income potential and flexibility for investors and future owner-occupants alike. Featuring two 3-bedroom residences—1019 and 1017½—and one 2-bedroom residence at 1017, each unit includes an in-unit washer and dryer, mini-split systems, and kitchens that retain a fresh, modern look.
Current gross scheduled rents total $8,950 per month, or $107,400 annualized. For the small investor, this turnkey property offers three rental residences in an established San Diego urban neighborhood. For a future owner-occupant, explore the opportunity to live in one unit and collect rent from the others, subject to existing leases and occupancy availability.
Situated on an approximately 7,065-square-foot lot within an Opportunity Zone, the property also offers potential for buyers interested in exploring future development, subject to zoning and applicable approvals.
Estimated cap rate uses the $1,300,000 asking price, current seller property taxes, and estimated insurance; excludes vacancy, repairs, maintenance, and management. Buyer’s property taxes may increase upon reassessment. Buyer to verify expenses, Opportunity Zone designation, and development feasibility.