2 Homes on 1 Lot in Central San Diego | 2020-22 Gregory St
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2 Homes on 1 Lot in Central San Diego 2020-22 Gregory St
2 Unit Apartment Building $1,299,000 ($649,500/Unit) 4.30% Cap Rate San Diego, CA 92104
Investment Highlights
- 2 Free Stranding Homes on 1 Lot
- Value Add Opportunity With Rental Upside
- Vacant Front Home
- Canyon Views
- Core Central San Diego Market
- Perfect for Owner-User or an Investor
Executive Summary
Introducing 2020-22 Gregory: a truly exceptional property featuring two separate free-standing homes on a single expansive lot. The front home, offering approximately 750 sq ft, comprises a thoughtfully designed 2-bedroom, 1- bath layout with its own private yard and convenient laundry equipment. Meanwhile, the rear home boasts around 1,000 sq ft of space, featuring a spacious 3-bedroom, 1-bath floor plan, a private balcony, and laundry hook-ups. Nestled on a generous 4,737 sq ft lot, this property is situated on a peaceful cul-de-sac, affording stunning canyon views. The serene and private location makes it an ideal choice for an owner-user seeking a tranquil residence or an investor looking to capitalize on the potential of this remarkable property
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$81,600
|
$45.97
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,448
|
$1.38
|
| Effective Gross Income |
$79,152
|
$44.59
|
| Taxes |
$14,679
|
$8.27
|
| Operating Expenses |
$8,855
|
$4.99
|
| Total Expenses |
$23,534
|
$13.26
|
| Net Operating Income |
$55,618
|
$31.33
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $81,600 |
| Annual Per SF | $45.97 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,448 |
| Annual Per SF | $1.38 |
| Effective Gross Income | |
|---|---|
| Annual | $79,152 |
| Annual Per SF | $44.59 |
| Taxes | |
|---|---|
| Annual | $14,679 |
| Annual Per SF | $8.27 |
| Operating Expenses | |
|---|---|
| Annual | $8,855 |
| Annual Per SF | $4.99 |
| Total Expenses | |
|---|---|
| Annual | $23,534 |
| Annual Per SF | $13.26 |
| Net Operating Income | |
|---|---|
| Annual | $55,618 |
| Annual Per SF | $31.33 |
Property Facts
| Price | $1,299,000 | Property Subtype | Apartment |
| Price Per Unit | $649,500 | Apartment Style | Single Family Home |
| Sale Type | Investment | Building Size | 1,775 SF |
| Cap Rate | 4.30% | Average Occupancy | 50% |
| Sale Conditions | 1031 Exchange | No. Stories | 1 |
| Gross Rent Multiplier | 15.9 | Year Built | 1940 |
| No. Units | 2 | Parking Ratio | 2.25/1,000 SF |
| Property Type | Multifamily |
| Price | $1,299,000 |
| Price Per Unit | $649,500 |
| Sale Type | Investment |
| Cap Rate | 4.30% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 15.9 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Size | 1,775 SF |
| Average Occupancy | 50% |
| No. Stories | 1 |
| Year Built | 1940 |
| Parking Ratio | 2.25/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | 750 |
| 3+1 | 1 | $2,700 | 1,000 |
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zoning
| Zoning Code | RS 1-7 |
| RS 1-7 |
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2 Homes on 1 Lot in Central San Diego | 2020-22 Gregory St
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