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475 Oxford Street

Chula Vista, CA 91911
  • $1,724,800
  • STATUS: Active
  • ON SITE: 96 Days
  • ID#: PTP2204123
UPDATED: 16 min ago
$1,724,800
  • 8
    BEDS
  • 0.36
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,975
    SQFT
  • $580
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1948
County:

School Ratings & Info

School District:
Listing Agent(s): Leslie Peraza of Premier Properties (619-754-4133) and Luis Peraza of Premier Properties(619-754-4133)


Description

LOCATION, VALUE ADD, + DEVELOPMENT OPPORTUNITY! In the opportunity zone, this SFR + Duplex have potential to add value. This is a double lot located in West Chula Vista with freeways, public transportation, and shopping accessible. This property boasts a 4 bed + loft, 2 bath Single Family Residence as well as a Duplex with 2 beds, 1 bath per unit (newly constructed). The existing 3 units are all built on 1 side of the almost 16,000 sqft lot. New owners can LOT SPLIT or continue to develop the west half of the property utilizing SB-9 regulations to their advantage. Each unit has designated parking and washer/dryer hookup. Take advantage of South Bay's growth and appreciating rental market by buying into an investment property within close proximity to some of the region's most rapidly growing job locations including the Navy's newly built $1B Silver Strand Training Complex, the $1.3B Chula Vista Bayfront Development, and Amazon's new $3M facility. All 3 units are currently rented on a month-to-month lease, have ample parking, and have their own washer/dryer hookup. Seller is willing to Carry Back. Unit 1: SFR 3 bed/2 bath, Rent is $2955, Pro Forma: $3455. Unit 2: Duplex Side A 2 bed/1 bath, Rent is $2045, Pro Forma: $2345. Unit 3: Duplex Side B 2 bed/1 bath, Rent is $1795, Pro Forma: $2345. Gross Income: $81,540. Cap Rate is approximately 4% but can be increased with Pro Forma rents up to 4.9%. ATTENTION DEVELOPERS: This Property falls within the "Opportunity Zone" which provides tax incentives with the intention to promote investment in economically distressed neighborhoods. Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! Through this program, investors can achieve the following three significant tax benefits. ALL INFORMATION PROVIDED IS DEEMED RELIABLE. Buyer to verify all before the close of escrow including but not limited to: permits, units, square footage, and development opportunities allowed.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-26T09:29:37.337. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or PowerWest Properties. Licensed in the State of California, USA.
www.powerwestrealty.com/homes/130096249
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475 Oxford Street Chula Vista, CA 91911

  • Price: $1,724,800
  • Status: Active
  • On Site: 96 Days
  • Updated: 16 min ago
  • ID#: PTP2204123
8
Beds
4
Baths
0
½ Baths
0.36
Acres
2,975
SQFT
$580
$/SQFT
1948
Built
Neighborhood:
91911 - Chula Vista
County:
San Diego
Area:
91911 - Chula Vista
School District:
Sweetwater Union
Property Description
LOCATION, VALUE ADD, + DEVELOPMENT OPPORTUNITY! In the opportunity zone, this SFR + Duplex have potential to add value. This is a double lot located in West Chula Vista with freeways, public transportation, and shopping accessible. This property boasts a 4 bed + loft, 2 bath Single Family Residence as well as a Duplex with 2 beds, 1 bath per unit (newly constructed). The existing 3 units are all built on 1 side of the almost 16,000 sqft lot. New owners can LOT SPLIT or continue to develop the west half of the property utilizing SB-9 regulations to their advantage. Each unit has designated parking and washer/dryer hookup. Take advantage of South Bay's growth and appreciating rental market by buying into an investment property within close proximity to some of the region's most rapidly growing job locations including the Navy's newly built $1B Silver Strand Training Complex, the $1.3B Chula Vista Bayfront Development, and Amazon's new $3M facility. All 3 units are currently rented on a month-to-month lease, have ample parking, and have their own washer/dryer hookup. Seller is willing to Carry Back. Unit 1: SFR 3 bed/2 bath, Rent is $2955, Pro Forma: $3455. Unit 2: Duplex Side A 2 bed/1 bath, Rent is $2045, Pro Forma: $2345. Unit 3: Duplex Side B 2 bed/1 bath, Rent is $1795, Pro Forma: $2345. Gross Income: $81,540. Cap Rate is approximately 4% but can be increased with Pro Forma rents up to 4.9%. ATTENTION DEVELOPERS: This Property falls within the "Opportunity Zone" which provides tax incentives with the intention to promote investment in economically distressed neighborhoods. Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! Through this program, investors can achieve the following three significant tax benefits. ALL INFORMATION PROVIDED IS DEEMED RELIABLE. Buyer to verify all before the close of escrow including but not limited to: permits, units, square footage, and development opportunities allowed.
Exterior Features

Attached Garage YN No Lot Features Back Yard Parking Total 1 Pool Features None Pool Private YN No Property Attached YN No Sign On Property YN Yes Spa YN No View None View YN No

Interior Features

Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Heating YN No Main Level Bathrooms 3 Main Level Bedrooms 0

Property Features

Association Fee 0 Association YN No Community Features Sidewalks Garage YN Yes Land Lease YN No Laundry Features In Garage Lease Considered YN No Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalFhaVa Loan Number Of Units In Community 1 Property Sub Type Single Family Residence Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Single Family Residential



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-26T09:29:37.337. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or PowerWest Properties. Licensed in the State of California, USA.
 
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PowerWest Properties
1824 Esplanade
Chico CA, 95926
Listing Agent(s): Leslie Peraza of Premier Properties (619-754-4133) and Luis Peraza of Premier Properties(619-754-4133)