We have an accepted offer on Glenmont in Solana Beach!
Our goal is 50 listings this year, and here’s our third – Richard’s investor special, a fourplex in Lakeside for only $450,000 (the least-expensive 4-plex for sale in the entire county!):
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
Looks like a screaming buy. I lived in lakeside 30 years ago. nice town. i use to get slurpees at the 7-11 right off highway 8. I think there is a burger king next door now. The exit east of los coaches to the old highway 8.
I have to imagine you are looking at 1000/ month out of each unit. So 4000 / month in rental income – loan payment – maintenance. Looks like some great cash flow to me.
the brick walls are probably less maintenance too. no termites to worry about. roof should last 35 years @ least. Those kitchens are so basic you could probably put new cabinets , countertop and sink in for < 2500. Bathroom vanities 100 bucks at home depot. New carpet throughout for 1000 bucks.
avgjoe,
Your numbers are exactly the same as mine. Also I agree this looks like a great buy. If it was closer to north county I’d be on it.
Would love to see actual rent figures as my guess is quite a bit lower based upon what I get in North Park. I’m thinking $700 to 800 per unit?
$820 per unit currently, with one long-timer still at $700.