ACRE is proud to present for sale the Mississippi Street Cottages. This 5 unit property is located in the heart of North Park and is comprised of one (1) 2-Bed/1-Bath cottage, two (2) 1-Bed/1-Bath cottages, two (2) 1-Bed/1-Bath duplex style units, and four (4) garages. The cottages are located half a block north of University Avenue and are in walking or biking proximity to local hot spots, restaurants, popular breweries, El Cajon Boulevard, 30th Street, and close to the I-805 & I-8 freeways. The subject property was constructed in 1929, has approximately 2,802 square feet of living area, and is on a larger than average 8,382 square foot lot.
This property offers an investor the opportunity to add value through additional renovations. Coupled with an aggressive management style, there is an approximately 15% upside in rental income. The subject property is ideal for the investor looking for a pride of ownership asset in one of San Diego’s most desirable rental markets. With continued upward pressure in rents, one should expect solid returns for many years to come.