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$3,400,000
Est. payment /mo
0.25 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260027097SD
HOA Y/N No
Lot Size 10,890 Sqft
Property Sub-Type Mixed Use
Property Description
99 Broadway is a 15-unit multifamily property at the corner of D Ave and Broadway in downtown Chula Vista. Unit mix of 13 studios and two 1BR/1BA units; every unit was renovated in 2023 and converted from hotel use to multifamily. Currently 13 of 15 units occupied, with 2 vacant units (#8 and #14) ready for immediate lease-up. Current gross scheduled rent of $206,400/yr vs. $292,800/yr at market, roughly $86,400/yr (+42%) of rent upside. Offered at a 5.94% cap rate on NOI of $202,000. 3,093 SF building on a 10,890 SF (0.25 AC) lot with 11 surface parking spaces. Zoned C-3 (Broadway North) under the Chula Vista Urban Core Specific Plan. Low-maintenance property with no landscaping. Walkable, transit-served location near bus lines, shops and restaurants, with easy access to SR-54 and I-5. About 7 miles to downtown San Diego, 9 miles to the Mexican border, and close to the Gaylord / Chula Vista Bayfront development. A compelling workforce-housing investment requiring only modest capital expenditure.
Location
State CA
County San Diego
Area 91910 - Chula Vista
Zoning C-3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 11
Others
Tax ID 5653300200
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
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Listed by Ron Chaquica The Agency #01246523
Nearby Locations
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Josh Pono
Owner/CEO/Trainer/Coach License ID: 02016846
Owner/CEO/Trainer/Coach License ID: 02016846