1340 8th Street
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1340 8th Street

Ctop 80%

National City, CA 91950

$725,000

Pass at asking: -$3,292/mo full cashflow at 20% down, 7.43% rate.

Works at $296,308 (59% under asking), or at 86% down.

Rent $2,955/mo from 8 leases of 2-bed houses within 2 mi ($2,808–$3,196).

Beds

2

Baths

1

Sqft

1,072

Year Built

1946

Days on Market

96

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2607428

This property is in National City (91950). Browse neighborhood analytics →

Virtual Tour

About This Property

Tenant-occupied single-family home on a corner lot in National City, offering in-place income today with room to grow. The 8,891 SF lot is well above average for the submarket, and the property includes a detached garage, giving a buyer flexibility beyond the main residence. Current rent of approximately $1,760/month sits below the estimated $2,400/month market rent, providing built-in upside for a new owner from day one. Zoned MXC-2, Major Mixed-Use Corridor, the property permits single-family, multifamily, and mixed residential/commercial development by right, supports up to 75 dwelling units per acre, and allows buildings as tall as 65 feet, subject to the City's approval process. The corner lot position and oversized parcel add further flexibility for a future value-add or redevelopment play, appealing to investors, developers, and owner-users alike. Located minutes from I-5, I-805, and the 8th Street Trolley Station, in a corridor currently benefiting from active public infrastructure investment. A full video and photography marketing package, including additional photos and property information, is available for interested buyers. Contact Ivan Del Muro-Garcia at 619.623.2132 or idmg@lee-associates.com for offering details, or to see what else is currently available in San Diego multifamily. Buyer to independently verify all information including square footage, lot size, zoning, year built, income, and development potential.

Mortgage Calculator

Est. Monthly Payment

$4,964

Principal & Interest$4,028
Property Tax$725
Insurance$211
%($145,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Las Palmas · grades K-6 · National Elementary

  • Middle

    National City Middle · grades 7-8 · Sweetwater Union High

  • High

    Sweetwater High · grades 9-12 · Sweetwater Union High

The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.

Renovation math

Flagged Light Value-Add from the listing remarks — “value-add”.

Asking now
$725K

$676/sqft

Worth finished
$732K

$683/sqft × 1,072 sqft

Budget to renovate
$6,757

$6/sqft to spend

Comparable finished homes nearby suggest this is worth $732K once it's brought to par — about $6,757 above the asking price. That spread is your renovation budget before the deal stops working.

Rent once renovated

Rent at par
$3,455/mo

$3.22/sqft × 1,072 sqft, median of 5 comps

Cashflow at that rent
−$2,907/mo

cap rate 2.14%, DSCR 0.70

Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.

Based on 5 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.

Investment Score

32C
Est. Monthly Rent
$2,955

8 leases of 2-bed houses within 2 mi · $2,808–$3,196

Blended 50/50 with a property-level estimate

Monthly Cashflow

Rent − PITIA

-$2,009
Full Cashflow

Incl. vacancy, PM, maint, capex

-$3,292

What would make this work?

$3,292/mo short at 20% down; 86% down or +$4,276/mo rent closes it.

Break-even price

59% under asking

$296,308
Break-even rent

$4,276/mo above the estimate

$7,231/mo
Cashflow at 35% down
−$2,537/mo
Down payment to break even

$623,500 cash

86%
Rate to break even

Negative even at a 0% loan

Not reachable

Mortgage (P+I)
$4,028
Cap Rate
1.46%
Cash-on-Cash
-27.25%
DSCR

Need ≥ 1.25 for DSCR loan

0.60

NOI (Annual)
$10,595
Price-to-Rent

Lower = better for investors

20.4

* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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CCashflow−$3,292/mo