ABSOLUTE CASH COW WITH NO VACANCIES!! This incredible property offers the potential for a ridiculous Cap Rate! Units consist of main home, attached studio, additional JADU potential, a mobile home, AND space for another detached ADU or Tiny Home! The main house welcomes an open floor layout and generous upgrades. LVP, Granite Countertops, Can-less recessed lighting, and light and bright features! The home flows very well and has been rented to active duty military for a few years. The attached studio has it's own private entrance and kitchenette area with numerous custom upgrades! The studio has also been rented out for a few years to a great tenant. The additional structure can easily be converted into a detached ADU and the mobile home is currently rented as well! Public sewage/drainage has already been routed for an additional unit on the south-eastern corner of the property and is just waiting for the right buyer to take advantage of this outstanding opportunity!! Steps away from the soon-to-be Gaylord Pacific Resort and Convention Center, 12min to Naval bases, 15min to Downtown, and 5min to Imperial Beach! This property will be a great investment with immediate equity once project is complete and unlimited AirBnB/VRBO potential with the unit count!
Sold for $735,000 on 11/23/22
$735,000
1071 Madison Ave, Chula Vista, CA 91911
3beds
1,084sqft
Single Family Residence
Built in 1950
5,662.8 Square Feet Lot
$798,200 Zestimate®
$678/sqft
$3,211 Estimated rent
What's special
Zillow last checked: 8 hours ago
Listing updated: November 28, 2022 at 03:43pm
Listed by:
Christopher T Burgos DRE #02122669 754-777-3333,
My Home Group Real Estate Inc.
Bought with:
Juan Alamilla Quintana, DRE #01978455
Big Block Realty, Inc
Source: SDMLS,MLS#: 220024906
Originating MLS: San Diego Association of REALTOR

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Heating
- Combination Heating, Forced Air Unit
Cooling
- Electric
Appliances
- Included: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Satellite Dish, Washer, 6 Burner Stove, Convection Oven, Freezer, Gas Oven, Gas Stove, Grill, Ice Maker, Counter Top, Gas Water Heater
- Laundry: Gas
Features
- Flooring: Linoleum/Vinyl, Tile
- Fireplace features: Fire Pit, Guest House
- Common walls with other units/homes: No Unit Above or Below,Detached
Interior area
- Total structure area: 1,084
- Total interior livable area: 1,084 sqft
Property
Parking
- Total spaces: 8
- Parking features: Detached
Features
- Levels: 1 Story
- Patio & porch: Deck
- Pool features: N/K
- Fencing: Gate,Brick Wall,Wood
- Has view: Yes
- View description: Courtyard, Neighborhood, Peek-A-Boo
Lot
- Size: 5,662 sqft
Details
- Additional structures: Attached
- Parcel number: 6181420400
- Zoning: R-1
- Zoning description: R-1
- Special conditions: N/K
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Stucco, Wood/Stucco, Hardboard
- Roof: Composition
Condition
- Year built: 1950
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Security
- Security features: Other/Remarks, Smoke Detector
Community
- Community features: BBQ, Exercise Room, Laundry Facilities
Location
- Region: Chula Vista
- Subdivision: SAN DIEGO
Other
Other facts
- Listing terms: Cal Vet,Cash,Conventional,FHA,VA,Cash To New Loan
Services availability
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$798,200