5972 Streamview Dr, East San Diego, CA 92105

Property Description

5972 Streamview Dr is a fully renovated four-unit multifamily property located in the Mid-City neighborhood of San Diego (92105). Built in approximately 1964, the property offers approximately 3,854 square feet on a 10,388 square foot parcel, and every unit is a 3Br/1Ba. Offered at $1,795,000 ($448,750 per unit; $465.75 per SF), the asset provides in-place income of $11,450 per month, a 5.3% current cap rate and a 13.1 gross rent multiplier, with upside to a 5.7% cap rate and a 12.5 GRM at estimated market rents of $11,400 per month.At the offered price, in-place rents generate approximately $95,948 of net operating income, increasing to approximately $102,699 at estimated market rents.The owner has completed extensive upgrades throughout, including replacement of the cast iron plumbing with ABS and Pex piping, new electrical wiring with four new sub panels, new kitchens and bathrooms, new windows, new plumbing for in-unit laundry, and new 2 Ton mini split AC and heat in each unit. The result is a uniform four-unit offering with modernized building systems and finishes.