Homes for sale - 5920 Streamview DR, San Diego, CA 92105

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Michael Humphries

knyterealty@gmail.com +1(562) 278-0822

$ 1,550,000

Est. payment -/mo

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5920 Streamview DR San Diego, CA 92105

0.25 Acres Lot

UPDATED:

12/25/2024 02:08 AM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2407674

HOA Y/N No

Year Built 1964

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 doesn't stop there. Approved plans and permits are ready for transfer, 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 Diego's most sought-after rental markets. Whether you're 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. Don't miss out on this outstanding investment!

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning R-4 Multiple Residential

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Suburban

View Y/N No

Total Parking Spaces 4

Private Pool No

Building

Story 2

Sewer Public Sewer

New Construction No

Others

Senior Community No

Tax ID 4727300100

Acceptable Financing Cash, Conventional, Cal Vet Loan, 1031 Exchange, FHA 203(b), FHA 203(k), FHA, Fannie Mae, Freddie Mac, Government Loan, Submit, VA Loan

Listing Terms Cash, Conventional, Cal Vet Loan, 1031 Exchange, FHA 203(b), FHA 203(k), FHA, Fannie Mae, Freddie Mac, Government Loan, Submit, VA Loan

Special Listing Condition Standard

Listed by Khalid Yarash • CA-RES

Michael Humphries

Agent | License ID: 02108361

+1(562) 278-0822

Michael Humphries

5920 Streamview DR San Diego, CA 92105

Key Details

Location

Interior

Exterior

Building

Others

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5920 Streamview DR