We are proud to present 2051 S Corning St, a 6-unit property located in the Palms submarket priced at a 5% CAP and a 12.45GRM! This opportunity consists of a single, two-story building built in 1960 comprising of 6,448sf situated on a 6,307sf LARD1.5 zoned lot featuring a superior unit… Read More mix of (5) three-bedroom two bath and (1) studio units. 4 of 6 units have been renovated and the Earthquake Retrofit has been completed! With alley access, this property features 5 parking spaces in the rear, providing tenants easy access to and from the building. One three-bedroom two bath unit, featuring a private yard, will be delivered VACANT and renovated. There is potential to operate the building at a 6.61% cap rate and 10.14 GRM at market rents, offering an exceptional opportunity for any type investor looking to preserve capital while continuing to drive long term returns in an exceptionally robust submarket that is continuing to improve with ongoing development. Contact the listing broker for additional details. Read Less
Courtesy of Kidder Mathews of California, Inc. 858-369-3010
Listing Snapshot
Days Online
38
Last Updated
Property Type
Other
Beds
15
Square Ft.
6,448
Lot Size
0.14 Acres
Year Built
1960
MLS Number
25519279
30 Days Snapshot Of 90034
$2.05M
+14%
(avg) sold price
5
-44%
homes sold
42
-33%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
6,448 sq ft, Built in 1960, Levels: Two
Disclosures
As Is
Garage
Carport Attached
Lot
LotAcreage: 0.1448, LotSizeArea: 6,307, LotSizeDimensions: 45x140, Single Lot, Alley Access
Parking
CarportSpacesTotal: 5, TotalParking: 5
Property
NumberOfUnits: 6, Zoning: LARD1.5
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