NOT LISTED FOR SALE

2430 Union St San Diego, CA 92101

Bankers Hill Neighborhood

Estimated Value: $2,941,756

6 Beds
4 Baths
3,401 Sq Ft
$865/Sq Ft Est. Value

Last Sold April 19, 2022

Last sale price $3,000,000 $882 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $16,881/month

8 Days on Market

Highlights

  • Community Barbecue Grill
  • Zoned Cooling
  • Partially Fenced Property

About This Home

As of April 2022

Rare Opportunity to own a practically brand new building in one of San Diego's most prestigious neighborhoods that generates enough income to have leveraged cash flow! Union 4 is that opportunity. Original historic house that has been renovated and still carries a Mills Act designation for lower property taxes along with 3 units built in 2013 by a well known San Diego architect. The location will attract both young professionals looking to live within walking distance to downtown but you can also operate the building as a Short Term Vacation Rental. The Penthouse 2BR suite is going to remain as a Vacation Rental which will allow an investor to decide how to operate it moving forward. Offered at a 4.13% cap with long term rentals this is easily one of the best opportunities in Southern CA considering the quality and location. Operated as a full time vacation rental the property has the potential to generate >$260,000 and over a 6% Cap Rate. In addition the current owners have worked with the city and there are approved plans for a 257 Sq Ft Accessory Dwelling Unit (ADU) that should generate an additional $24K to $28K of income. Do not miss this opportunity.

Last Agent to Sell the Property

Thomas McCartin

Marcus & Millichap License #01427348 Listed on: 03/29/2022

Last Buyer's Agent

Thomas McCartin

Marcus & Millichap License #01427348 Listed on: 03/29/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,218

Year Built

  • 2013

Lot Details

  • 5,227

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Metal Siding
  • Vinyl Siding

Additional Features

  • 3-Story Property
  • Partially Fenced Property
  • Zoned Cooling

Listing and Financial Details

  • Tenant pays for sewer, trash, water, cable TV, electricity
  • Assessor Parcel Number 533-062-05-00

Community Details

Overview

  • 2 Buildings
  • 4 Units

Additional Features

  • Community Barbecue Grill
  • Net Operating Income $119,877

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,218

Year Built

2013

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Market Area: Metro Central
  • Cross Street: Union & West Laurel
  • Neighborhood: Bankers Hill
  • LP / Sq Ft: 22.9
  • Stories: 3 Story
  • Sale Price List Price: 1.03
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 2013

Exterior Features

  • Exterior Material: Brick, Metal, Vinyl
  • Fencing: Partial
  • Roof: Composition

Utilities

  • Cooling: Zoned Area(s)

Condo/Co-op/Association

  • Community: SAN DIEGO
  • Complex Features: BBQ

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Assessor Parcel Number: 533-062-05-00

Rental Info

  • Tenant Pays: Sewer, Trash, Water, Cable TV, Electricity

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 119877
  • Annual Expense Actual: 38223
  • Annual Expense Projected: 38579
  • Gross Rent Multiplier Actual: 18.88
  • Gross Rent Multiplier Projected: 17.32
  • Gross Sched Income Actual: 153600
  • Gross Sched Income Projected: 167400
  • Number Of Buildings: 2
  • Number Of Furnished Units: 1
  • Number Of Units With Cooling: 44
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Dryers: 4
  • Number Of Units With Patios: 1
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 4
  • Other Income Actual: 4500
  • Other Income Projected: 4500.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 21, 2015
Sold by
Union 4 Sd Llc
Bought by
Raskin Kimberly A and Raskin Bruce D
Current Estimated Value
$2,941,756

Purchase Details

Listed on
Sep 23, 2014
Closed on
Jan 12, 2015
Sold by
Raskin Kimberly A and Raskin Bruce D
Bought by
Union 4 Sd Llc
Seller's Agent
Susana Mora
Coldwell Banker West
Buyer's Agent
Bobby Martins
eXp Realty of California, Inc
List Price
$1,800,000
Sold Price
$1,750,000
Premium/Discount to List
-$50,000
-2.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.94%
Original Mortgage
$1,050,000
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Listed on
Sep 23, 2014
Closed on
Dec 5, 2014
Sold by
Nakhshab Soheil and Nakhshab Nima
Bought by
Raskin Kimberly A and Raskin Bruce D
Seller's Agent
Susana Mora
Coldwell Banker West
Buyer's Agent
Bobby Martins
eXp Realty of California, Inc
List Price
$1,800,000
Sold Price
$1,750,000
Premium/Discount to List
-$50,000
-2.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,050,000
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 3, 2012
Sold by
Knox Leroy
Bought by
Knox Velda A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$783,893
Interest Rate
3.7%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 25, 2012
Sold by
Knox Velda A
Bought by
Nakhshab Sohell and Nakshab Nima

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$783,893
Interest Rate
3.7%
Mortgage Type
FHA

Purchase Details

Closed on
Sep 7, 2011
Sold by
Taylor Janet A
Bought by
Knox Velda A

Purchase Details

Closed on
Jun 29, 2007
Sold by
Ritter Arleen M
Bought by
Ritter Arleen M
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Raskin Kimberly A -- None Available
Union 4 Sd Llc -- None Available
Raskin Kimberly A $1,750,000 Title 365
Knox Velda A -- First American Title San Die
Nakhshab Sohell $282,000 First American Title San Die
Knox Velda A -- None Available
Ritter Arleen M -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Raskin Kimberly A $1,050,000
Previous Owner Nakhshab Sohell $783,893
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/19/2022 04/19/22 Sold $3,000,000 +3.4% $882 / Sq Ft
04/07/2022 04/07/22 Pending -- -- --
03/29/2022 03/29/22 For Sale $2,900,000 +65.7% $853 / Sq Ft
01/12/2015 01/12/15 Sold $1,750,000 -2.8% $515 / Sq Ft
11/26/2014 11/26/14 Pending -- -- --
09/23/2014 09/23/14 For Sale $1,800,000 +538.3% $529 / Sq Ft
07/12/2012 07/12/12 Sold $282,000 -42.4% $241 / Sq Ft
06/12/2012 06/12/12 Pending -- -- --
10/04/2011 10/04/11 For Sale $490,000 -- $420 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $10,218 $848,631 $509,178 $339,453
2024 $10,218 $826,555 $495,933 $330,622
2023 $11,703 $940,449 $564,269 $376,180
2022 $11,481 $940,449 $564,269 $376,180
2021 $11,233 $908,238 $544,942 $363,296
2020 $11,265 $912,592 $547,555 $365,037
2019 $11,491 $929,284 $557,570 $371,714
2018 $11,105 $941,898 $565,138 $376,760
2017 $12,155 $1,035,798 $621,478 $414,320
2016 $11,476 $974,290 $584,574 $389,716
2015 $7,990 $677,266 $406,359 $270,907
2014 $7,866 $664,000 $261,180 $402,820
Source: Public Records

Agents Affiliated with this Home

  • Thomas McCartin

    Seller's Agent in 2022

    Thomas McCartin

    Marcus & Millichap

    (858) 362-9376

    3 in this area

    34 Total Sales

    Section Image
  • Susana Mora

    Seller's Agent in 2015

    Susana Mora

    Coldwell Banker West

    (619) 840-1058

    5 Total Sales

    Section Image
  • Bobby Martins

    Buyer's Agent in 2015

    Bobby Martins

    eXp Realty of California, Inc

    (858) 299-6792

    297 Total Sales

    Section Image

  • C

    Seller's Agent in 2012

    Cindy Knox

    Knox & Associates

    Section Image
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Map

Source: San Diego MLS

MLS Number: 220007137

San Diego MLS

APN: 533-062-05

California San Diego County San Diego 92101 Bankers Hill

2430 Union St, San Diego, CA

This home is located at 2430 Union St, San Diego, CA 92101 since 29 March 2022 and is currently estimated at $2,941,756, approximately $864 per square foot. This property was built in 2013. 2430 Union St is a home located in San Diego County with nearby schools including Washington Elementary School, Roosevelt International Middle School, and Museum School.

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