1329-35 Highland Ave
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1329-35 Highland Ave
2,463 SF 100% Leased Retail Building National City, CA 91950 $1,442,626 CAD ($585.72 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- nvestment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top
- Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential.
EXECUTIVE SUMMARY
Unit 1329: Recently remodeled in 2020, this unit is currently generating $2,350 per month. The tenants have been there for 6 months and are on a month-to-month lease.
Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month.
Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent
Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the commercial building, offering significant expansion opportunities.
Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment.
Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE).
Unit 1333: A long-term tenant has enjoyed this unit for over 17 years. This Section 8 tenant pays approximately $1,700 per month.
Commercial Building: The front commercial space has a reliable tenant who has been in place for over 5 years, paying $2,000 per month. He is in month to month and willing to increase the rent
Investment Potential: The property is zoned MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow the addition of up to 3 more units on top of the commercial building, offering significant expansion opportunities.
Located on one of the busiest streets in San Diego County, this property offers a fantastic mix of residential income and commercial potential. Situated across from Walmart, the residential units are set back from the street, providing a peaceful environment.
Don’t miss out on this versatile property with great rental income and future development potential! Verify all information before Close of Escrow (COE).
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$103,870
|
$42.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$103,870
|
$42.17
|
| Taxes |
$9,086
|
$3.69
|
| Operating Expenses |
$2,092
|
$0.85
|
| Total Expenses |
$11,178
|
$4.54
|
| Net Operating Income |
$92,693
|
$37.63
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $103,870 |
| Annual Per SF | $42.17 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $103,870 |
| Annual Per SF | $42.17 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,086 |
| Annual Per SF | $3.69 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,092 |
| Annual Per SF | $0.85 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $11,178 |
| Annual Per SF | $4.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $92,693 |
| Annual Per SF | $37.63 |
PROPERTY FACTS In Escrow
Sale Type
Investment
Sale Condition
Deferred Maintenance
Property Type
Retail
Property Subtype
Building Size
2,463 SF
Building Class
C
Year Built
1954
Price
$1,442,626 CAD
Price Per SF
$585.72 CAD
Cap Rate
7.25%
NOI
$104,590 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.38
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
MCR-2 - MCR-2 Multi-Use Commercial-Residential (45 du/ac max) to allow addition of up to 3 more units
Parking
5 Spaces (2.03 Spaces per 1,000 SF Leased)
Frontage
54’ on Highland Ave
AMENITIES
- 24 Hour Access
- Bus Line
- Wheelchair Accessible
- Smoke Detector
Walk Score®
Very Walkable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 561-013-18 | Total Assessment | $616,180 CAD (2024) |
| Land Assessment | $309,364 CAD (2024) | Annual Taxes | $9,086 CAD ($3.69 CAD/SF) |
| Improvements Assessment | $306,816 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
561-013-18
Land Assessment
$309,364 CAD (2024)
Improvements Assessment
$306,816 CAD (2024)
Total Assessment
$616,180 CAD (2024)
Annual Taxes
$9,086 CAD ($3.69 CAD/SF)
Tax Year
2023
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1329-35 Highland Ave
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