4629 Bancroft St., Normal Heights, CA 92116
- $2,895,000
- List Price
- $2,895,000
- Status
- ACTIVE
- MLS#
- 260016353SD
- Lot Size
- 6,258
- Acres
- 0.14
- Days on Market
- 24
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
8 Pride of Ownership Normal Heights units just 1/2 block south of Adams Avenue. 6 of the 8 units have been fully renovated featuring: granite countertops, new kitchen and bath cabinets, new tile showers, stainless steel refrigerators-dishwashers-microwaves-stoves, wood laminate floors, dual pane windows, etc. The property features: two 2-car garages, 5 open parking spaces, secured gated access, owned cashless laundry room (also renovated), new main electric panel, new 50-year roof (2016), new exterior paint (2023), zero scape landscaping, and completed balcony inspection (2025). Building was re-piped in 2015 and tented for termites in 2021. The 2 non-renovated units are in great condition and also have wood laminate flooring. There is significant potential for increased cash flow, as current rents are 12% to 15% below market rates. Investors have the option to further maximize returns by either converting the two double garages into Accessory Dwelling Units (ADUs) or charging tenants for garage usage.
Additional Information
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Exterior Construction
- Drywall, Stucco
- Attached Structure
- Detached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $200,160
- Operating Expense
- 66294
Listing courtesy of Listing Agent: Mark Morgan (morgan@scc1031.com) from Listing Office: South Coast Commercial, Inc..
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