If you're looking for the perfect investment condominium to rent out, consider this new listing at 3980 8th Avenue #112 in the Hillcrest neighborhood of San Diego. This is a move-in ready one bedroom and one bath condo with 641 ft.² affordably priced at $312,000. This condominium is also VA and FHA approved. Is beautifully staged located in the heart of Hillcrest. It's just minutes away from the Metro's finest restaurants, shops, entertainment, and more. It offers easy access to Highway 163 and other main thoroughfares and access points. The home offers hardwood floors, maple cabinetry, granite countertops, crown molding, a large pantry, extra storage, a cozy fireplace, and secure and gated underground parking. Laundry is located on the same floor as the unit.
This complex was built in 1972 and features 60 units on three stories. Monthly homeowners dues are $255 per month, which include all common area maintenance, landscaping, gated entrance, sewer, trash, and water. The complex also has a fitness room and swimming pool! It's part of the San Diego unified school district and are served by the Florence elementary school and the Roosevelt international middle school, all less than a mile away.
This complex has a walk score of 88 but only a 56 transit score and a 58 bike score. It's perfect for anyone that is not own a vehicle as markets, cafés, restaurants and entertainment relatively within a few blocks of the front door. Transit stations are little bit farther away from this location but depending on your mobility, are still not too far away.
This is a great opportunity to own a fantastic one bedroom unit in a popular District of San Diego. It's ideal for those looking to expand their rental portfolio. Currently as of the publishing of this post, May 30, 2017, the average rent is about $1770 a month for a one bedroom. Taxes on this unit are approximately $2100 per year, which puts the average on a 36 of fixed unit at about $1700 per month. Depending on how much you're going to put down, it will lower that dramatically offering you monthly cash flow income.
If you'd like to know more about this unit or would like other options throughout the Hillcrest neighborhood perfect for investing or for your permanent or temporary residency, contact my office today.