NOT LISTED FOR SALE

Estimated Value: $4,006,496

9 Beds
4 Baths
5,418 Sq Ft
$739/Sq Ft Est. Value

Last Sold March 09, 2022

Last sale price $4,000,000 $738 Per Sq Ft

Current estimated payment $25,932/month

215 Days on Market

About This Home

As of March 2022

Prime Balboa Park location. Two spectacularly luxurious residential units with exceptional craftsmanship. Stunning, unobstructed views of Balboa Park, cityscape and mountains. Rare opportunity for hotel, rentals, or residence. The building is currently master leased for $19,570 per month (increasing to $20,157 on 11/7/21). The master lease expires on 11/6/22, with a 2-year option to extend through 11/6/2024. Maintain the lease or convert back to a dramatic private residence with an additional rental unit or an office suite. CC-3-9 zoning allows for commercial uses including business offices, live-work, visitor accommodations, as well as residential uses.

Last Agent to Sell the Property

Jim Walsh

Walsh Property Group License #00848043 Listed on: 06/08/2021

Last Buyer's Agent

Roman Cedillo

AppleTree Real Estate Inc License #01757107

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $51,257

Year Built

  • Built in 1993

Lot Details

  • Gated Home
  • Property is Fully Fenced

Parking

  • Automatic Gate

Home Design

  • Rolled or Hot Mop Roof
  • Stucco Exterior

Interior Spaces

  • 3-Story Property

Listing and Financial Details

  • Vacation Rental by Owner
  • Tenant pays for sewer, trash, water, cable TV, electricity, gas/propane, hot water
  • Assessor Parcel Number 452-714-07-00

Community Details

Overview

  • 2 Units
  • Balboa Park West Community

Building Details

  • Net Operating Income $168,640

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$51,257

Year Built

Built in 1993

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: Maple
  • Neighborhood: Bankers Hill
  • LP / Sq Ft: 23.62
  • Stories: 3 Story
  • Sale Price List Price: 0.96
  • Total Stories: 3
  • Year Built: 1993
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Full, Gate
  • Roof: Rolled/Hot Mop

Utilities

  • Cooling: Central Forced Air
  • Security: Automatic Gate

Condo/Co-op/Association

  • Complex Name: Balboa Park West

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Zoning: CC-3-9
  • Assessor Parcel Number: 452-714-07-00

Rental Info

  • Vacation Rental By Owner: Yes
  • Tenant Pays: Sewer, Trash, Water, Cable TV, Electricity, Gas/Propane, Hot Water

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 168640
  • Annual Expense Actual: 66200
  • Annual Expense Projected: 66200
  • Gross Rent Multiplier Actual: 17.67
  • Gross Sched Income Actual: 234840
  • Gross Sched Income Projected: 241886
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Fireplaces: 2
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 2, 2020
Sold by
Balboa Park Creative House Llc
Bought by
Malone Barbara L
Current Estimated Value
$4,006,496

Purchase Details

Closed on
Dec 20, 2019
Sold by
Hamm Douglas and Hamm Lara
Bought by
Balboa Park Creative House Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
3.6%
Mortgage Type
Commercial

Purchase Details

Listed on
Jan 15, 2019
Closed on
May 3, 2019
Sold by
Hamm Douglas
Bought by
Hamm Douglas and Hamm Lara
Seller's Agent
Francine Finn
Compass
Buyer's Agent
Francine Finn
Compass
List Price
$2,895,000
Sold Price
$2,500,000
Premium/Discount to List
-$395,000
-13.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.74%

Purchase Details

Listed on
Jan 15, 2019
Closed on
Apr 30, 2019
Sold by
Hamm Lara
Bought by
Hamm Douglas
Seller's Agent
Francine Finn
Compass
Buyer's Agent
Francine Finn
Compass
List Price
$2,895,000
Sold Price
$2,500,000
Premium/Discount to List
-$395,000
-13.64%

Purchase Details

Closed on
Feb 27, 2019
Sold by
Howard Felix Guidry Inter Vivos Trust
Bought by
Hamm Douglas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
4.2%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 22, 2008
Sold by
Guidry Howard Felix
Bought by
Guidry Howard Felix

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$725,000
Interest Rate
5.87%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 5, 2005
Sold by
Guidry Howard Felix
Bought by
Guidry Howard Felix

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$725,000
Interest Rate
1%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 22, 2003
Sold by
Guidry Howard Felix
Bought by
Guidry Howard Felix

Purchase Details

Closed on
Apr 13, 1999
Sold by
Vasques Trust 04-25-94
Bought by
Piles William Francis

Purchase Details

Closed on
Apr 25, 1994
Sold by
Vasques Horace A and Vasques Theresa
Bought by
Vasques Horace A and Vasques Theresa D

Purchase Details

Closed on
Jul 27, 1987
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
Malone Barbara L $3,900,000 Stewart Title Guaranty Co
Balboa Park Creative House Llc -- Chicago Title Company
Hamm Douglas -- Guardian Title Company
Hamm Douglas -- Guardian Title Company
Hamm Douglas $2,500,000 Guardian Title Company
Guidry Howard Felix -- Accommodation
Guidry Howard Felix -- Chicago Title Company
Guidry Howard Felix -- Southland Title
Guidry Howard Felix -- Southland Title
Guidry Howard Felix -- --
Piles William Francis -- Chicago Title Co
Vasques Horace A -- --
Vasques Horace A -- --
Vasques Horace A -- --
Vasques Horace A -- --
-- $206,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 2630 Mendridge Llc $3,000,000
Previous Owner Balboa Park Creative House Llc $1,000,000
Previous Owner Hamm Douglas $2,000,000
Previous Owner Piper Danny R $1,350,000
Previous Owner Guidry Howard Felix $850,000
Previous Owner Guidry Howard Felix $725,000
Previous Owner Guidry Howard Felix $725,000
Previous Owner Guidry Howard Felix $1,234,354
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/09/2022 03/09/22 Sold $4,000,000 -3.6% $738 / Sq Ft
01/10/2022 01/10/22 Pending -- -- --
10/04/2021 10/04/21 For Sale $4,150,000 +3.8% $766 / Sq Ft
10/01/2021 10/01/21 Off Market $4,000,000 -- --
06/08/2021 06/08/21 For Sale $4,150,000 +66.0% $766 / Sq Ft
05/06/2019 05/06/19 Sold $2,500,000 -13.6% $471 / Sq Ft
02/22/2019 02/22/19 Pending -- -- --
01/15/2019 01/15/19 For Sale $2,895,000 0.0% $546 / Sq Ft
11/01/2016 11/01/16 Rented $6,000 -7.7% --
10/15/2016 10/15/16 Under Contract -- -- --
09/24/2016 09/24/16 For Rent $6,500 -- --
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 $51,257 $4,244,831 $1,963,234 $2,281,597
2024 $51,257 $4,161,600 $1,924,740 $2,236,860
2023 $50,122 $4,080,000 $1,887,000 $2,193,000
2022 $48,523 $3,978,000 $1,836,000 $2,142,000
2021 $48,186 $3,900,000 $1,800,000 $2,100,000
2020 $31,487 $2,550,000 $969,000 $1,581,000
2019 $23,031 $1,866,135 $618,316 $1,247,819
2018 $21,531 $1,829,545 $606,193 $1,223,352
2017 $21,018 $1,793,672 $594,307 $1,199,365
2016 $20,685 $1,758,503 $582,654 $1,175,849
2015 $20,378 $1,732,089 $573,902 $1,158,187
2014 $20,053 $1,698,161 $562,661 $1,135,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 210015749

San Diego MLS

APN: 452-714-07