2609 11 Nina Road, Lemon Grove, CA 91945
- $999,000
- List Price
- $999,000
- Status
- ACTIVE
- MLS#
- 260019237SD
- Year Built
- 1958
- Days on Market
- 1
- Property Type
- Multifamily
- Stories
- One Level
- Neighborhood
- Lemon Grove
Property Description
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.
Additional Information
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Roof
- Composition
- Attached Structure
- Detached
- Number Of Units Total
- 2
- Gross Scheduled Income
- $77,880
Listing courtesy of Listing Agent: Twana Rasoul (twana.rasoul@compass.com) from Listing Office: Compass.
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