$1,225,000
SOLD JUN 21, 2018
7 Beds
5 Baths
2,700 Sq Ft
6,387 Sq Ft Lot

Recently Sold

$454 Per Sq Ft

6% Below List Price

34 Days on Market

About This Home

As of April 2022

Amazing opportunity to own great income generating multi unit in South Park, with possibility of splitting the lot. Great for living in one and renting out the other two or just keep as an investment property. South Park is a growing hot bed for premium rental income and this is the opportunity to own a great property in that neighborhood. Recently renovated interiors as well as newly upgraded exterior of property will generate even higher rental incomes. Currently all three units are tenant occupied. Great investment opportunity for a income generating property, possibility of splitting the lot, owners can live in one unit and rent out other two. Recently remodeled interior in all three units and complete makeover of exterior patios and common areas of the unit make this a very appealing property for renters. One off street parking for each unit make this property even more unique as well as a garage accessible from the alley. This property is two buildings and three units each have there own private patio/balcony area as well as a massive yard great for entertaining and hosting outdoors. The property can be accessed via Edgemont street or the alley which is closed off to through traffic. Beautiful craftsman style multi unit in South park, within walking distance to great nightlife and food as well as easy access to downtown, I5, 94 as well as balboa park. Property is only 3 unit property on block due to zoning changes as of Jan 2017 Property was grandfathered in. Due to tenant occupancy only shown with accepted offer. Home is back on market, Buyers unable to perform.

Last Agent to Sell the Property

Robert Nazarinia

Platinum Mortgage and Realty San Diego License #02029070 Listed on: 05/04/2018

Platinum Mortgage and Realty San Diego

Last Buyer's Agent

Amy Yahnke

SD Real Estate Solutions License #01477031

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1933

Lot Details

  • 6,387 Sq Ft Lot
  • Property Near a Canyon
  • Property is Fully Fenced

Home Design

  • Composition Roof
  • Stucco Exterior

Schools

  • San Diego Unified School District Elementary And Middle School
  • San Diego Unified School District High School

Additional Features

  • 2-Story Property
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 539-306-05-00

Community Details

Overview

  • 2 Buildings
  • 3 Units

Pet Policy

  • Pets Allowed

Building Details

  • Net Operating Income $60,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1933

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Central
  • Cross Street: Elm street
  • Neighborhood: South Park
  • Supplement: Great investment opportunity for a income generating property, possibility of splitting the lot, owners can live in one unit and rent out other two. Recently remodeled interior in all three units and complete makeover of exterior patios and common areas of the unit make this a very appealing property for renters. One off street parking for each unit make this property even more unique as well as a garage accessible from the alley. This property is two buildings and three units each have there own private patio/balcony area as well as a massive yard great for entertaining and hosting outdoors. The property can be accessed via Edgemont street or the alley which is closed off to through traffic. Beautiful craftsman style multi unit in South park, within walking distance to great nightlife and food as well as easy access to downtown, I5, 94 as well as balboa park. Property is only 3 unit property on block due to zoning changes as of Jan 2017 Property was grandfathered in. Due to tenant occupancy only shown with accepted offer. Home is back on market, Buyers unable to perform.
  • Stories: 2 Story
  • Sale Price List Price: 0.97
  • Total Stories: 2
  • Year Built: 1933
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 1
  • Prkng Non Garage Spac U2: 1
  • Prkng Non Garage Spac U3: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Full
  • Roof: Composition

Utilities

  • Water Heater Type: Gas

Condo/Co-op/Association

  • Pets Allowed: Yes
  • Community: NORTH PARK

Schools

  • School District URL: https://www.sandiegounified.org/
  • Elementary School: San Diego Unified School District
  • Elementary School Website: https://www.sandiegounified.org/
  • High School: San Diego Unified School District
  • Middle School Url: https://www.sandiegounified.org/
  • Middle School: San Diego Unified School District

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Topography: Canyon/Valley
  • Water District: CITY OF SAN DIEGO
  • Zoning: R-2:MINOR
  • Assessor Parcel Number: 539-306-05-00
  • Land Use Code: 132
  • Estimated Lot Sq Ft: 6387
  • Water District URL: http://www.ci.san-diego.ca.us/water
  • Estimated Number of Acres: 0.15
  • Map Code Column: E
  • Map Code Page: 1289
  • Map Code Row: 2

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 3
  • Actual Net Operating Income: 60000
  • Annual Expense Actual: 15000
  • Gross Rent Multiplier Actual: 14.0
  • Gross Sched Income Actual: 75000
  • Gross Sched Income Projected: 87600
  • Number Of Buildings: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Garage: 1
  • Number Of Units With Patios: 3
  • Number Of Units With Range Oven: 3
  • Number Of Units With Refrigerator: 3
  • Other Income Actual: 400

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Range of Values:

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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
04/11/2022 04/11/22 Sold $1,770,000 -1.7% --
03/12/2022 03/12/22 Pending -- -- --
03/09/2022 03/09/22 For Sale $1,800,000 +46.9% --
06/21/2018 06/21/18 Sold $1,225,000 -2.8% $454 / Sq Ft
06/08/2018 06/08/18 Pending -- -- --
05/19/2018 05/19/18 Price Changed $1,259,995 -3.1% $467 / Sq Ft
05/04/2018 05/04/18 For Sale $1,299,995 +31.3% $481 / Sq Ft
07/20/2016 07/20/16 Sold $990,000 0.0% $411 / Sq Ft
05/20/2016 05/20/16 Pending -- -- --
05/09/2016 05/09/16 For Sale $990,000 -- $411 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 180023681

San Diego MLS

APN: 539-306-05-00