702 R Ave, National City, CA 91950
12 Unit Apartment Building | $5,680,000 ($473,333/Unit) | 5.30% Cap Rate | National City, CA 91950
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,680,000
- Property Type
-
Multifamily
- Square Feet
- 10,958 SF
Listing Contacts
Farid Khayamian
Verified Profile
- Property Info
Property Overview
Please review the appraisal report. The property consists of 12 one-story townhome-style units that have undergone a complete renovation, including a reinforced foundation with rebars and concrete, The new roof boasts over 24 new flat ventilation vents, ensuring optimal air circulation within the structure. brand new vinyl flooring throughout, and new kitchens equipped with high-end appliances such as island hood fans and side-by-side fridges with ice makers and water dispensers. Furthermore, all master bedrooms now feature spacious walk-in closets. A permit was in process to build 8 more units, but with the new "California Density Bonus" (See attached), this lot is now eligible to build more than 65 units, subject to approval by the city of National City. Our architect, based on the meeting with the City of National City and all their regulations and Floor area ratio (FAR), created a future plan, which is attached to all pictures.
Property Details
- Class
- B
- Year Built/Renovated
- 1977/2021
- Stories
- 1
- Lot Size (sq. ft)
- 35,284 SF
- Units
- 12
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