5 (almost) finished lots on Anza, all 1/2 acre or larger.
Each lot can be sold separately for $950,000
The city has processed one of the 5 lots for the following development:
(2) homes, 2,200 square feet each
(2) ADU's (upstairs + downstairs)
Total 10 home + 10 ADU's on these lots
Each of the remaining 4 lots are approvable for the same exact development.
Basis of value:
House Rent = $5000 per month; ADU rent = $2000 per month
Total rent for the (4) units on each lot = $14,000 per month
X 5 lots = $70,000 per month X 12 months = $840,000x.75 = 630,000 Net Operating Income
5% cap rate = $12,600,000 value of 20 units total/4 on each lot
Property Type :
Land
County :
San Diego
Style :
Land
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ByOwner last updated this listing 05/13/2024 @ 21:58
MLS: PI24056462
LISTED BY: Steven Relth, Lee and Associates
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
 finished lots on Anza, all 1/2 acre or larger.
Each lot can be sold separately for... "Share Via Pinterest")