5920 Streamview Drive, San Diego, CA 92105 (MLS # PTP2407674)
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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!
| DAYS ON MARKET | 2 | LAST UPDATED | 12/26/2024 |
|---|---|---|---|
| YEAR BUILT | 1964 | COMMUNITY | East San Diego |
| GARAGE SPACES | 4.0 | COUNTY | San Diego |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | East San Diego |
|---|---|
| GARAGE | Yes |
| HOA DUES | 0 |
| LOT | 0.25 acre(s) |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| ZONING | R-4 Multiple Residential |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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