$1,020,000

Agent Notes

This triplex investment property represented an excellent opportunity for my buyer in September 2023. The property sold in 37 days on September 20, 2023, demonstrating strong investor demand for cash-flowing multi-family properties in National City's opportunity zone. With a net operating income of $67,612 annually and a cap rate of 6.70%, this property offered immediate positive cashflow. At the time of sale, actual rents were: Unit 1 (3bed/1bath): $3,036/month, Unit 2 (1bed/1bath): $1,620/month, and Unit 3 (1bed/1bath): $1,645/month, with projected rents of $3,300, $1,950, and $1,950 respectively, showing significant upside potential. With a gross scheduled income of $75,612 and total annual expenses of only $8,000, the property provided strong cash-on-cash returns. The private entries, fenced outdoor spaces for each unit, storage sheds, and abundant parking made it highly attractive to tenants. The central location with easy highway access and proximity to public transportation added to the property's investment appeal. Working with listing agents Melissa and John Steele from Big Block Realty, we successfully secured this investment for my client at the asking price of $1,020,000, representing a gross rent multiplier of 13.2x.