$999,000
Two detached homes on one lot in a quiet Lemon Grove cul-de-sac. Front home is 3 bed, 1.5 bath, approx 1,100 SF. Back home is 2 bed, 1 bath, approx 774 SF. Each has its own gas and electric meter and its own single-car garage, so you get two independent tenancies with minimal overlap. At current rents the property pencils at a 5.8% cap rate, based on what the units bring in today rather than projected increases. Strong fit for an investor wanting long-term value with cash flow in place from day one, or for a buyer looking to occupy one home and let the second unit cover a portion of the mortgage. Detached units command more than a standard duplex and tend to hold tenants longer with cleaner turnovers. Detached 2-on-1 lots don't come up often in Lemon Grove.
Listed by Twana Rasoul with Compass (619) 353-5799
Property Type
Residential Income
Status
Active
MLS Number
260019237SD
Year Built
1958
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