Terry Moore CCIM 126 140 9th St National City 91950 Unbranded
National City, CA
126 – 140 East Ninth, National City Three freestanding rent homes within a block of charming Historic Brick Row in National City ~ that unique opportunity is now available. Residents appreciate the privacy of freestanding homes. This parcel has a couple of other advantages. Each house has a fence and a private backyard. On East Ninth there is a garage in between two of the houses. Behind the two outer houses are gates which allow the residents to park inside their backyard. Few rentals give the residents the peace of mind that comes from having the car inside private space. This important feauture helps landlords because it increases the chance of you getting the best tenants in a particular ZIP Code. Lousy tenants may not care about their cars and wouldn’t pay extra to protect their possessions. However superior tenants do take care of their property and are more likely to take care of the landlord’s property. Sloped roofs reduce of roof leak and mean lower maintenance costs. In these three homes, the tenants pay for water sewer trash and overheating their own water. In most San Diego County rentals the landlords pay all those costs. In La Jolla, Del Mar and other premier areas affluent people often provide security for their homes. Sometimes the security is via alarm systems and other times by bars on the windows. These three properties also have physical evidence, metal protection over windows, that the owner and the tenants care about peoples’ peace of mind. These three homes are within minutes of I 5 and thus jobs in downtown San Diego Chula Vista or other freeway convenient places. Wait! There’s more! With standard upgrades of $10-$15,000 per unit, the homes can be modernized and made even more desirable. In other words the rents can be substantially increased. Upgrading property is the fastest way for a rental owner to boost wealth. State law simplifies the condo conversion process for three or four units. Cities can’t block condo conversion of four units or less. Some investors may want to consider turning these freestanding homes into condos, which might be sold at a healthy profit. National City has rezoned areas around downtown in ways that will promote future growth and upscale construction. Half a block to the north on the east side of the street you’ll see to higher density new buildings. Investors and or developers who aspire to create newer and higher value housing may want to talk with the city Zoning and Planning Departments to learn how much density as possible on this parcel. Within the last 20 years National City has been among the most aggressive and dynamic of the County’s smaller cities. Local leaders have been realizing dynamic vision for this ocean front community. National City has enjoyed more than average redevelopment activity and greater than average new construction. These voters endorsed property rights and rejected a rent control scheme. In the past year the number of three units in four unit buildings which sold was almost twice the average of the previous decade. Many savvy buyers recognize the potential of adding value to homes so close to the ocean in downtown San Diego. You’d be wise to act quickly. There may be multiple offers on this property within the next 10 days. There’s no obvious second best choice once this asset is snapped up.