$3,500,000
SOLD DEC 31, 2024

1942-54 San Diego Ave San Diego, CA 92110

Mission Hills Neighborhood
6 Beds
4 Baths
6,781 Sq Ft
8,994 Sq Ft Lot

Recently Sold

$516 Per Sq Ft

17% Below List Price

78 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • No Heating
  • Grant K-8 Rated A-

About This Home

As of December 2024

1942-54 San Diego Ave presents the opportunity to acquire a 14 unit multifamily asset in the rarely traded and desirable Old Town location. The asset consists of (1) Studio Unit, (11) One Bedroom units, (1) 2 Bedroom / 1 bath, and (1) 3 Bedroom / 1 Bath unit. Select units possess bay views. 8 out of the 14 units have received full interior renovations. Four units at the rear of the property are single story with small rear yards providing tenants with additional privacy. There are (5) garage spaces at the property along with an on-site laundry room. A shared central courtyard could be further improved with a BBQ and table arrangement to provide tenants with additional outdoor utility to enjoy bay views with their gatherings. The property provides tenants with incredible accessibility to the majority of San Diego’s primary entertainment, employment, restaurants, highway access, and activity hotspots. The asset is within short walking distance to Downtown of Old Town and International Restaurant Row and within biking distance of Little Italy & Liberty Station. Additional primary attractions such as Mission Bay, Fiesta Island, Petco Park, Downtown Hillcrest, Balboa Park, Banker’s Hill etc are all within a 10 minute drive.

Last Agent to Sell the Property

Wendell Hindley

Moto Real Estate, Inc. Brokerage Email: mbrown@caacre.com License #00530176 Listed on: 08/19/2024

Last Buyer's Agent

Wendell Hindley

Moto Real Estate, Inc. Brokerage Email: mbrown@caacre.com License #00530176 Listed on: 08/19/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 8,994 Sq Ft Lot
  • Two or More Common Walls
  • Density is 26-30 Units/Acre

Parking

  • 5 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 6,781 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Tax Lot 451-722-19-00
  • Tax Tract Number 19
  • Assessor Parcel Number 4517221900

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 14 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 15 Separate Electric Meters
  • 15 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $2,670
  • Professional Management Expense $14,716
  • Trash Expense $7,200
  • Water Sewer Expense $8,354
  • New Taxes Expense $46,287
  • Operating Expense $113,260
  • Gross Income $304,987
  • Net Operating Income $181,052

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Parking

5

Listing Details

  • Assessments: Yes
  • CapRate: 4.83
  • Price Per Unit: 250000
  • Professional Management Expense: 14716.00
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 8354.00
  • Zoning: Multifamily
  • Property Type: Residential Income
  • Parcel Number: 4517221900
  • Year Built: 1960
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Entry Location: street
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Price Per Square Foot: 516.15

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: No
  • Total Parking Spaces: 5.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 7200.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Land Lease: No
  • Lot Features: 26-30 Units/Acre
  • Lot Size Sq Ft: 8994.00
  • Lot Size Acres: 0.2065

Multi Family

  • Electric Expense: 2670.00
  • Gross Income: 304987.00
  • Gross Scheduled Income: 304987.00
  • Lot Size Area: 8994.0000 Square Feet
  • Net Operating Income: 181052.00
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 14
  • Operating Expense: 113260.00
  • Rent Control: Yes
  • Total Expenses: 113260.00

Tax Info

  • New Taxes Expense: 46287.00
  • Tax Lot: 451-722-19-00
  • Tax Tract Number: 19-00

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
12/31/2024 12/31/24 Sold $3,500,000 -6.7% $516 / Sq Ft
11/05/2024 11/05/24 Pending -- -- --
10/11/2024 10/11/24 Price Changed $3,750,000 -10.7% $553 / Sq Ft
09/24/2024 09/24/24 Price Changed $4,199,000 0.0% $619 / Sq Ft
08/19/2024 08/19/24 For Sale $4,200,000 -- $619 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • W

    Seller's Agent in 2024

    Wendell Hindley

    Moto Real Estate, Inc.

    Section Image

  • M

    Seller's Agent in 2024

    Maxwell Brown

    Commercial Asset Advisors

    (858) 546-4600

    1 in this area

    15 Total Sales

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2404992

California Regional Multiple Listing Service (CRMLS)

California San Diego County San Diego 92110 Mission Hills

1942-54 San Diego Ave, San Diego, CA

This home is located at 1942-54 San Diego Ave, San Diego, CA 92110 and is currently priced at $3,500,000, approximately $516 per square foot. This property was built in 1960. 1942-54 San Diego Ave is a home located in San Diego County with nearby schools including Grant K-8, Richard Henry Dana Middle School, and Roosevelt International Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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