20
See all 20 photos
$1,900,000
Est. payment /mo
14 Beds
1 Bath
6,389 SqFt
Pending
441 Tremont Street Chula Vista, CA 91911
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Key Details
Property Type Single Family Home
Sub Type Com-Res Income
Listing Status Pending
Purchase Type For Sale
Square Footage 6,389 sqft
Price per Sqft $297
MLS Listing ID 260006797
Bedrooms 14
Full Baths 7
Lot Size 10,553 Sqft
Property Sub-Type Com-Res Income
Property Description
441 Tremont Street (the “Property”) is a 7-unit multifamily property located in the supply constrained Chula Vista submarket of San Diego, California. Situated in the rapidly growing Otay Town neighborhood, the Property offers convenient access to Interstate 5, Interstate 805, and State Route 905, connecting residents to employment centers throughout San Diego County, including the South Bay's expanding retail, logistics, and healthcare corridors, as well as the nearby US/Mexico border crossing at Otay Mesa. The Property consists entirely of two-bedroom, one-bathroom units averaging over 900 square feet, providing the above-average unit size that workforce housing renters in this submarket actively seek and that consistently supports stronger rent retention and lower turnover. Three of the seven units have already been fully renovated, delivering immediate income at market-rate rents and demonstrating the renovation premium achievable at the Property. The remaining four units are in original condition and represent a clear, low-risk value-add opportunity for an investor to execute the same proven renovation program and bring rents in line with the renovated comparables already in place. At stabilization, the renovated cap rate approaches 7.5%, a compelling return profile for a well-located workforce housing asset in a market where new supply remains structurally limited and renter demand is supported by a broad and diverse employment base.
Location
State CA
County San Diego
Community Other/Remarks
Area South Bay
Zoning R2P
Interior
Fireplace No
Exterior
View Y/N No
Total Parking Spaces 10
Building
Story 2
Others
Senior Community No
Tax ID 623-112-02
Virtual Tour https://www.propertypanorama.com/instaview/snd/260006797
Listed by Erik M Anderson, DRE#01991182 Newmark of Southern California
NEARBY SCHOOL & BUSINESS
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