NOT LISTED FOR SALE

1245 Colusa St San Diego, CA 92110

Morena Neighborhood
4 Beds
3 Baths
2,308 Sq Ft
3,312 Sq Ft Lot

Last Sold September 06, 2023

Last sale price $1,500,000 $650 Per Sq Ft

92 Days on Market

About This Home

As of September 2023

BIG PRICE REDUCTION! 1245 Colusa Street is a fully leased and rehabilitated triplex in the desirable Morena neighborhood of San Diego next to University of San Diego. The complex features two structures consisting of a 2-bedroom house at the corner of Lauretta and Colusa, a 2-bedroom / 1-bath unit and fully permitted Studio / 1-Bath ADU within the alley corner structure. The property sits on a 3,312 square foot lot built in 1940. All units have received top tier upgrades such as recessed lighting, new Frigidaire appliance packages, custom white cabinetry and hardware, sliding barn doors, backsplash, coil sinks, fans, flooring, doors and tiled walk-in showers. All units feature washer/dryers and exteriors have received new lighting, landscaping, private rear shed, mailboxes, unit numbers and paint. Morena is a densely populated urban neighborhood of San Diego neighboring Bay Park, Linda Vista, Mission Hills and the University of San Diego. The neighborhood is popular among students and young families with a median age of 25. A majority of the area is made up of homes and rentals with the main food and entertainment corridor along Linda Vista Road which includes breweries, coffee shops, a mixture of local and large food chains and shops. An astute investor may buy the property to live in and rent out the property or finish off renovations of the front house and sit on the property as a long-term investment.

Last Agent to Sell the Property

Conor Brennan

Marcus & Millichap License #01918598 Listed on: 05/09/2023

Last Buyer's Agent

Maria Storti

eHomes License #01052854

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 3,312 Sq Ft Lot
  • Partially Fenced Property

Home Design

  • Composition Roof
  • Wood Siding

Additional Features

  • 2-Story Property
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas/propane
  • Assessor Parcel Number 436-581-01-00
  • $57 annual special tax assessment

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • Net Operating Income $72,236

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro
  • Cross Street: lauretta and colusa
  • Neighborhood: morena
  • Supplement: Morena is a densely populated urban neighborhood of San Diego neighboring Bay Park, Linda Vista, Mission Hills and the University of San Diego. The neighborhood is popular among students and young families with a median age of 25. A majority of the area is made up of homes and rentals with the main food and entertainment corridor along Linda Vista Road which includes breweries, coffee shops, a mixture of local and large food chains and shops. An astute investor may buy the property to live in and rent out the property or finish off renovations of the front house and sit on the property as a long-term investment.
  • LP / Sq Ft: 20.32
  • Stories: 2 Story
  • Sale Price List Price: 0.97
  • Total Stories: 2
  • Year Built: 1940
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Wood
  • Fencing: Partial
  • Roof: Composition

Utilities

  • Cooling: Wall/Window

Condo/Co-op/Association

  • Community: SAN DIEGO
  • Manager Name: capital re

Fee Information

  • CFD Mello Roos Fee: 57.16
  • CFD Mello Roos Fee Reflects: Year
  • Total Monthly Fees: 5
  • CFD Mello Roos Pay Frequency: Annual

Lot Info

  • Lot Size: 1-3,999 SF
  • Assessor Parcel Number: 436-581-01-00
  • Estimated Lot Sq Ft: 3312
  • Estimated Number of Acres: 0.076

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas/Propane

Multi Family

  • No. of Units: 3
  • Actual Net Operating Income: 72236
  • Annual Expense Actual: 27773
  • Annual Expense Projected: 27986
  • Gross Rent Multiplier Actual: 1.14
  • Gross Rent Multiplier Projected: 14.52
  • Gross Sched Income Actual: 102360
  • Gross Sched Income Projected: 106740
  • Number Of Buildings: 2
  • Number Of Units With Cooling: 3
  • Number Of Units With Dishwashers: 3
  • Number Of Units With Dryers: 3
  • Number Of Units With Fireplaces: 1
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 3
  • Number Of Units With Refrigerator: 3
  • Number Of Units With Washers: 3
  • Other Income Actual: 720
  • Other Income Projected: 720.0

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/06/2023 09/06/23 Sold $1,500,000 -3.2% $650 / Sq Ft
08/10/2023 08/10/23 Pending -- -- --
08/02/2023 08/02/23 Price Changed $1,550,000 -2.5% $672 / Sq Ft
06/14/2023 06/14/23 Price Changed $1,590,000 -3.0% $689 / Sq Ft
05/09/2023 05/09/23 For Sale $1,640,000 +103.5% $711 / Sq Ft
08/11/2020 08/11/20 Sold $806,000 -3.5% $413 / Sq Ft
07/27/2020 07/27/20 Pending -- -- --
07/17/2020 07/17/20 For Sale $835,000 -- $428 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Conor Brennan

    Seller's Agent in 2023

    Conor Brennan

    Marcus & Millichap

    (720) 841-8139

    1 in this area

    25 Total Sales

    Conor Brennan
    Section Image

  • M

    Buyer's Agent in 2023

    Maria Storti

    eHomes

    (714) 293-8625

    1 in this area

    3 Total Sales

    Section Image
  • Tamara Markey

    Seller's Agent in 2020

    Tamara Markey

    Redfin

    (619) 370-3256

    Section Image

  • D

    Buyer's Agent in 2020

    Dan Floit

    Floit Properties

    (619) 417-4567

    Section Image
See All Agents

Map

Source: San Diego MLS

MLS Number: 230008540

San Diego MLS

APN: 436-581-01-00

California San Diego County San Diego 92110 Morena

1245 Colusa St, San Diego, CA

This home is located at 1245 Colusa St, San Diego, CA 92110 since 09 May 2023. This property was built in 1940. 1245 Colusa St is a home located in San Diego County with nearby schools including Carson Elementary School, Montgomery Middle School, and Empower Language Academy.

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