$1,200,000
SOLD SEP 12, 2019
4 Beds
2 Baths
2,450 Sq Ft
5,001 Sq Ft Lot

Recently Sold

$490 Per Sq Ft

9% Above List Price

13 Days on Market

About This Home

As of September 2019

We are pleased to present 2530 Albatross St - A solid performing and well-kept investment asset with enormous upside potential for further development. Favorable RM-3-7 zoning allows for one unit per 1,000 sq.ft. of lot size. The 5,518 sq.ft. lot has the potential for up to 6 units! This beautiful duplex issituated in the heart of Bankers Hill, just six short blocks to Little Italy and seven blocks to Balboa Park, it is perfectly appointed for you to live in one unit and rent the other.

Last Agent to Sell the Property

John Reeves

John Reeves License #01861983 Listed on: 06/09/2019

Last Buyer's Agent

Oscar Vega

ROA California Inc License #01936677

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,836

Year Built

  • Built in 1940

Lot Details

  • 5,001 Sq Ft Lot

Interior Spaces

  • 2,450 Sq Ft Home
  • 2-Story Property
  • Fireplace

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Parking

  • 2 Parking Spaces
  • Driveway

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number 533-073-08-00

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,836

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Advertising Remarks: Each over-sized unit, with 1,200+ sqft/unit, has 2 bedrooms and 1 bathroom. Mature greenery, trees and flowering plants line the walk way to your new property. Each unit includes a spacious living room with all the charm and comfort expected of this stately investment. Picture windows set each room aglow with warm natural sunlight and views of the surrounding neighborhood. The private backyard has an exposed brick patio, a lush green lawn, and tree-lined fence for additional privacy. The two-car garage and driveway allow plenty of space for parking and storage. The property is currently operated as a long-term rental, and would make for a great short-term vacation rental due to its proximity to Balboa Park, downtown San Diego, and the beaches. The numerous upside value-add potential opportunities include 1) Increasing rents to market rent, 2) operating as short-term vacation rental to maximize revenue, or 3) develop up to 6 units with potential ocean views from the top units.
  • Living Area: 2450
  • Stories: 2
  • Year Built: 1940
  • Number Of Photos: 5
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 4
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 2.00
  • Den: 0
  • Price Per S Q F T: 448.98

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No

Garage/Parking

  • Parking Garage: Driveway - Concrete
  • Total Parking: 2

Utilities

  • Heating: Fireplace

Lot Info

  • Assessed Improvement Value: 364000
  • Assessed Land Value: 621000
  • Assessor Parcel Number: 533-073-08-00
  • Geocode Override: No
  • Lot Size Area: 5001

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 23.26
  • Number Of Units: 2
  • Total Annual Expense: 23931
  • Type Of Units: residential
  • Vacancy Rate: 0%

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 30, 2019
Closed on
Sep 10, 2019
Sold by
Deoca Willie Montes
Bought by
Deoca Pilar Montes
Seller's Agent
John Reeves
Reef Point Realty, Inc
Buyer's Agent
Oscar Vega
ROA California Inc
List Price
$1,199,999
Sold Price
$1,200,000
Premium/Discount to List
$1
0.0%
Current Estimated Value
$1,925,893

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$725,893
Avg. Annual Appreciation
9.01%
Original Mortgage
$1,020,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 30, 2019
Closed on
Aug 14, 2019
Sold by
Sloan James E and Sloan Chriseeta K
Bought by
Deoca Pilar Montes
Seller's Agent
John Reeves
Reef Point Realty, Inc
Buyer's Agent
Oscar Vega
ROA California Inc
List Price
$1,199,999
Sold Price
$1,200,000
Premium/Discount to List
$1
0.0%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,020,000
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 2, 2017
Sold by
Sloan James E and Sloan Chriseeta
Bought by
Sloan James E and Sloan Chriseeta K

Purchase Details

Closed on
Jul 7, 2005
Sold by
Garcia G Isaac and Garcia Tracy L
Bought by
Sloan James E and Sloan Chriseeta

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$550,000
Interest Rate
1.65%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Mar 20, 2003
Sold by
Erlanson Richard Edward and Erlanson David Ambrose
Bought by
Carter Tracy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$580,000
Interest Rate
5%
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- Ticor Title San Diego
Grant Deed $1,200,000 Ticor Title San Diego Branch
Interfamily Deed Transfer -- None Available
Grant Deed $1,050,000 Lawyers Title
Interfamily Deed Transfer -- Lawyers Title
Grant Deed $725,000 North American Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,015,000 New Conventional
Closed $1,020,000 New Conventional
Previous Owner $550,000 Negative Amortization
Previous Owner $200,000 Credit Line Revolving
Previous Owner $580,000 No Value Available
Closed $72,500 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/12/2019 09/12/19 Sold $1,200,000 0.0% $429 / Sq Ft
09/12/2019 09/12/19 Sold $1,200,000 0.0% $490 / Sq Ft
08/11/2019 08/11/19 Pending -- -- --
08/08/2019 08/08/19 Price Changed $1,199,990 0.0% $429 / Sq Ft
07/30/2019 07/30/19 For Sale $1,199,999 +9.1% $429 / Sq Ft
06/22/2019 06/22/19 Pending -- -- --
06/09/2019 06/09/19 For Sale $1,100,000 -- $449 / Sq Ft
Source: The 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
2024 $15,836 $1,286,638 $1,018,590 $268,048
2023 $15,488 $1,261,411 $998,618 $262,793
2022 $15,076 $1,236,679 $979,038 $257,641
2021 $14,973 $1,212,432 $959,842 $252,590
2020 $14,791 $1,200,000 $950,000 $250,000
2019 $12,846 $1,040,000 $655,000 $385,000
2018 $12,014 $1,020,000 $643,000 $377,000
2017 $80 $985,000 $621,000 $364,000
2016 $11,479 $975,000 $615,000 $360,000
2015 $11,482 $975,000 $615,000 $360,000
2014 $11,231 $950,000 $600,000 $350,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 19-475984

The MLS

APN: 533-073-08