2442 Union Street
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2442 Union Street #2N 2S

C

San Diego, CA 92101

$959,000

Beds

3

Baths

2.5

Sqft

1,785

Year Built

2005

Days on Market

8

Property Type

Condo

HOA/mo

$400

MLS ID

NDP2605762

This property is in San Diego (92101). View neighborhood stats →

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About This Property

Dual – APN condo investment/Prime value – Add opportunity A stand out opportunity for the savvy investor or seasoned contractor. This 1800 square-foot residence currently encompasses two combined condominium units under a single ownership, each carrying its own APN – setting the stage for a compelling value – add project. The vision is straightforward: restore the property to its original two – unit configuration, creating two separately, rentable condos with strong income potential. With the dual – APN structure already in place, the groundwork for the strategy is built right into the deal. Adding to the appeal, each unit comes with its own assigned tandem underground gated garage parking-a highly desirable amenity that strengthens rental demand and long - term value in any market For the right buyer with the skills and foresight to execute, this is a rare chance to acquire a single asset with two exit strategies – rent both units, sell them individually, or hold as a multi – unit income property. Properties of this kind of built – in upside, don’t come along often. Low HOA no Mello Roos

Mortgage Calculator

Est. Monthly Payment

$6,488

Principal & Interest$4,849
Property Tax$959
Insurance$280
HOA$400
%($191,800)
%

Location

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Investment Score

22D
Est. Monthly Rent
$4,316
Monthly Cashflow

Rent − PITIA

$-2,172
Full Cashflow

Incl. vacancy, PM, maint, capex

$-3,964

Mortgage (P+I)
$4,849
Cap Rate
1.11%
Cash-on-Cash
-24.80%
DSCR

Need ≥ 1.25 for DSCR loan

0.67
Break-even Rent
$9,464

NOI (Annual)
$10,622
Price-to-Rent

Lower = better for investors

18.5

* Defaults: 20% down, 6.5% rate, 30yr.

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

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