Buying a Duplex to Live In? Here’s a Real World Example #2

Are you thinking of buying a San Diego 2-4 unit property to live in?

We recently helped clients purchase a beautiful San Diego duplex that functions as both home and solid investment. Read below to learn more.

Newly Renovated Interior of smaller unit

The Clients:

We have many clients that want to purchase a San Diego duplex to live in one unit and rent the others for income in order to offset the mortgage. Recently, we helped another client achieve this goal with this beautiful Lemon Grove duplex. It functions great as both investment and comfortable home. These particular clients preferred a San Diego 2-4 unit property that was ideally move in ready, required minimal repairs, and cash flowed well enough to make their mortgage very low.

The Property:

Inside, it’s newly renovated in both units and very well maintained. The exterior shows some age, but with some simple cosmetic renovation (paint, trimming trees, etc) this property will really shine. This duplex is located on a quiet street in Lemon grove and close to shops and restaurants. The 2 units are essentially two small separate houses on one lot, which is a highly sought after format for those looking to live in one unit and rent the other. Here are the numbers:

Price: $470,000, with $6,000 seller credit for closing costs/repairs
Market rental rate for rental unit –  $1,700
Approximate payment including Mortgage, taxes, insurance – $2,385
Net payment after income deducted from rental unit – only $685


You can see the net payment is only $685. Of course there are risks/expenses to home ownership as well as being a landlord, however, that risk is highly mitigated by the fact that their payment is substantially lower than the cost of renting the same unit that they intend on occupying. If they were to rent the unit they are living in, the market rate is approximately $1200/month. That’s a $515/month savings. You can see there are obvious financial advantages to purchasing a San Diego duplex to live in and in this scenario, our clients achieved exactly what they were trying to accomplish with their Lemon Grove duplex purchase.

Want to know more about this property or how you can purchase something similar? Give us a call! We’d love to hear from you and help you purchase a San Diego 2-4 unit property as a home, investment, or both!



Broker Associate
Dycor Realty, Inc.
11440 W. Bernardo Court, #300
San Diego, CA 92127
DRE Lic# 01749497
Cell: (858) 449-1253
Fax: (858) 451-2588



As always, please note our disclaimer.