How often are you presented with an incredible property partnered with an equally incredible business opportunity? Casa Paradiso, originally owned by one of California's most successful race horse trainers, now offfers you a chance to own a slce of paradise in the heart of the City, while also earning a market-beating return. 7.3% CAP Rate! 10.8 GRM!!! This is the best CAP Rate and GRM of any property currently listed in 92103, and among the best in San Diego!!
Even better - 2 years fully-guaranteed gross income to maintain an 10.8 GRM when keeping on the existing management company! Casa Paradiso is a one-of-a kind luxury resort home located in the heart of the city. Literally the moment you step on to the property you are greeted by a tropical oasis: Glittering heated pool with LED-lit water fountains, an elevated Jacuzzi spa with outdoor shower, a 3-hole putting green, a 700sf lounge featuring a massive custom-built wet bar with 2 beverage coolers, built-in 70" high def TV, ultra-plush lounge chairs, couches, and bar stools. Enjoy a separate grilling area with integrated stainless steel grill and beverage cooler. All this is before you've even walked in the front door!! What sets this property apart is the Business Opportunity which comes with the sale – a fully compliant short-term vacation rental business with a solid track record of profitability. The current Property Management company is so confident in its turnkey system they have agreed to offer a 2 YEAR GROSS REVENUE GUARANTEE to new owners beginning at close of escrow!! Enter the lucrative short-term vacation rental business with the confidence of a guaranteed 2 years of passive gross income! This is a rare opportunity!! Inside the estate features an open floorplan concept, with incredible views and top-of-the-line luxury. The gourmet kitchen features gorgeous granite countertops along with Viking and LG appliances. Enjoy floor-to-ceiling stacking glass doors, which continue the seamless flow onto an expansive observation deck with views of the canyon, harbor, and city. A larger-than-life 15-foot high wooden door carved into the face of a Buddha stands guard over the master bedroom suite. The calming, Zen-like decor with open vaulted ceilings and a newly remodeled ensuite bathroom make this an incredibly unique and luxurious room. The sprawling estate continues as you make your way downstairs to the lower level. Here, you'll find a home theater room, which seats 8 comfortably and is outfitted with a state-of-the art 3D projector, a 110” drop-down screen and Dolby digital 7.0 surround sound. Also downstairs are 3 fully remodeled bedrooms and 2 modern-inspired full bathrooms. A large observation deck leads to the private basketball court and sitting area, an excellent spot to relax with bamboo trees and the canyon below. Whatever your plan…. Make income now, then move into paradise later, or just make income, and enjoy personal use on occasion, this property fits the bill. You will not find another deal like this.