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Updated over 12 years ago,
3 Unit Property, ? worth buying
Hello, new to this, first time posting, curious what everybody thinks about this investment:
- 3 unit property in San Diego
- current rents are 2400 +2400+1200 = 6000, sought after location, easy to rent
- purchase price $800k
- 1920's property, well-maintained/upgraded, no obvious initial work/repairs needed, has potential for historic designation/ Mills Act thereby reducing taxes
- while financials may not be ideal as solely an investment property, also considering possibility of living in one of the units for a while
- if owner-occupied I can purchase with 5% down, ~ 4.5% rate with no pmi...
Thanks, looking forward to everybody's comments!