4109-4115 3rd Avenue San Diego, CA 92103 hot
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2349000
/mo

9 Beds

5 Baths

1425 SqFt

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Key Details

Property Type: Multi-Family

Lot Size: 5,000 Sqft

Year Built: 1956

Purchase Type: For Sale

Listing Status: Active

MLS Listing ID: 180063329

Price per Sqft: $1,648

Type of Financing: Cash,Conventional

Property Description

Mixed use. Zoning CC-3-8 high density-1 unit per 600sf-100 foot height limit. Potential future land bank or continue as apt, office, medical, dental, etc. 3 of 4 units completely renovated. New kitchens, baths, upgraded flooring, fresh interior texture/paint, upgraded windows, newer roof/stucco, 3 new FAU and A/C units, upgraded electrical panel/outlets, etc.. 3 of 4 units completely furnished with high end finishes/furnishings negotiable Current short-term rental income ~$220,000 with 4 apts projected
Complete renovation to 3 of the 4 units including new kitchen, baths, upgraded flooring, fresh interior paint, new baseboards, upgraded windows, newer roof, newer stucco, forced air heaters, new central a/c, upgraded electrical panel and outlets, and much more. Former 5 unit, 2 story apartment building which was converted, with permits into 4 apartments. Unit mix includes: 1) 3 bedroom+den/office and 2 full baths (~1425sf) 2) 2 bedroom, one bath apartments (~1000sf each) 1) 1 bedroom, one bath apartment (~680 sf) 3) Single car garages Show w/accepted offer but your client will be more than impressed with interior inspection. 3 of 4 apartments currently highlighted as short term rentals. Owners paid premium with "super host" rating management. Completely furnished with high end finishes and furnishings are negotiable. Short term rental income ~$220,000 with all 4 apartments included if short term rentals continue. In house management would retain majority of income putting cap rate in the 7-8% range!! Trophy property and potential land "bank" Great potential for future development. High density commercial zoning (CC-3-8) allows 1 unit per 600 square foot of lot area (8 units total) or mixed use commercial/residential. Potential new construction building height is 100 feet. High end luxury condominiums, office condominiums, retail or medical/dental offices, etc. High end medical building directly behind subject with same zoning.

Location

State: CA

County: San Diego

Community: Hillcrest

Building/Comlex Name: Hillcrest

Zoning: CC-3-8

Rooms

Full Baths: 5

Interior

Sewage Type: Sewer Connected

Water: Meter on Property

Heating: Natural Gas

Cooling: Central Forced Air,Zoned Area(s),Other/Remarks

Air Conditioning: Central Forced Air,Zoned Area(s),Other/Remarks

Exterior

Exterior Feature: Stucco

Garage: Unit1:Attached Unit2:Attached Unit3:Attached Unit4:N/K

Garage Spaces: 3

Fence: Full,Gate

Roof Type: Composition

Building

Story: 2 Story

Schools

Elementary Schools: Florence Elementary School

Middle Schools: Roosevelt Middle School

High Schools: San Diego High School Of International Studies,San Diego High School Of Business And Leadership,San Diego High School Of Media, Visual And Performing Arts,San Diego High School Of Science And Technology

School District: San Diego City Unified School District

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Listing Provided By Dale L. Curtis (CA BRE #00881231) of Glenbrook Advisors

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Nearby School & Properties

84 WALK
SCORE
Very Walkable

Property History

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    Glen Henderson Big Block Realty, Inc
    Glen Henderson

    Broker Associate CA BRE # 01384181

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