540 65th, San Diego, California 92114, San Diego, 92114 - bed, bath
ACTIVE$2,500,000
540 65th, San Diego, California 92114
0Bed
0Bath
5,180Sqft
55,675Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Immediate Rental Income: All seven units are currently rented, providing instant cash flow and a stable income stream for an investor from day one.
Top Cons:
Significant Association Fees: Assuming the $330 fee is per condominium unit, the total monthly association fees would amount to $2,310, which significantly impacts the net operating income and overall profitability.
Compared to the nearby listings
Price:$2.50M vs avg $625.0K (+$1,875,000)67%
Size:5,180 sqft vs avg 1,235 sqft67%
Price/sqft:$483 vs avg $48350%
More Insights
Built in 1989 (36 years old).
Condition: The property was built in 1989, making it 35 years old. The images reveal functional but dated interiors, particularly in the kitchen with white appliances, basic laminate countertops, and standard white cabinets. Flooring consists of light-colored tile in living areas and carpet in bedrooms, which appear clean but are not modern. While the units are well-maintained and suitable for rentals, there's no evidence of recent extensive renovations. Major components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria for properties built within the last 25-40 years with no major renovations since construction.
Year Built
1989
Close
-
List price
$2.5M
Original List price
$2.5M
Price/Sqft
$483
HOA
$330
Days on market
-
Sold On
-
MLS number
NDP2510109
Home ConditionFair
Features
View-
About this home
7 Units in Wyndham Place. These units are all currently rented. Perfect opportunity to own multiple units in one complex.
Condition Rating
Fair
The property was built in 1989, making it 35 years old. The images reveal functional but dated interiors, particularly in the kitchen with white appliances, basic laminate countertops, and standard white cabinets. Flooring consists of light-colored tile in living areas and carpet in bedrooms, which appear clean but are not modern. While the units are well-maintained and suitable for rentals, there's no evidence of recent extensive renovations. Major components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria for properties built within the last 25-40 years with no major renovations since construction.
Pros & Cons
Pros
Immediate Rental Income: All seven units are currently rented, providing instant cash flow and a stable income stream for an investor from day one.
Significant Multi-Unit Portfolio: The opportunity to acquire seven units within a single complex offers substantial scale and diversification for a real estate investment, simplifying management.
Large Lot Size: A generous lot size of 55,675 sqft provides ample space for residents, potential for future enhancements, or even further development (subject to local zoning regulations).
Desirable San Diego Market: Located in San Diego, California, a high-demand rental market known for its strong tenant interest and potential for long-term property appreciation.
Relatively Modern Construction: Built in 1989, the property benefits from more contemporary construction standards compared to much older buildings, potentially reducing immediate major maintenance concerns.
Cons
Significant Association Fees: Assuming the $330 fee is per condominium unit, the total monthly association fees would amount to $2,310, which significantly impacts the net operating income and overall profitability.
Aging Infrastructure: With a build year of 1989, the property is 35 years old, indicating that major systems such as roofing, plumbing, electrical, and HVAC may be nearing the end of their useful life and could require substantial capital expenditures in the near to medium term.
Limited Property Specifics: The listing lacks crucial details regarding individual unit layouts, sizes, current rental rates, and interior conditions, making a comprehensive financial analysis and valuation challenging without further due diligence.