NOT LISTED FOR SALE

Estimated Value: $916,000 - $932,000

6 Beds
2 Baths
2,160 Sq Ft
$428/Sq Ft Est. Value

Last Sold September 18, 2024

Last sale price $910,000 $421 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $5,518/month

2 Days on Market

Highlights

  • Gated Home
  • 4-minute walk to 25Th & Commercial
  • 1-Story Property
  • Wood Siding

About This Home

As of September 2024

Well-Located Logan Heights 2-on-1 Property: Perfect for Owner-Occupants This property features two detached 3-bedroom, 1-bathroom houses, each with private fenced yards, situated on a spacious 7,000+ sq ft corner lot. Each home is approximately 1,085 sq ft, providing a total of 2,166 sq ft of living space. Both homes have their own water meters, significantly reducing costs for owners. Please do not disturb tenants or walk on property, shown with acceptable offer. Pics of 2095 Franklin were taken before tenants moved in - currently tenant occupied. The property offers substantial future development potential. It is located in the Complete Community Tier 3 with a 6.5 FAR and is situated in an Opportunity Zone. Similar lots in the area accommodate 34-unit multifamily developments. The property is zoned RM 3-7 Base, providing excellent flexibility for redevelopment or adding units. Agent(s) have financial interest in property. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. South Coast Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions.

Last Agent to Sell the Property

Justin Santos

South Coast Commercial, Inc. License #01854214 Listed on: 07/23/2024

South Coast Commercial, Inc.

Co-Listed By

Adam Jacks

South Coast Commercial, Inc. License #01701262

Last Buyer's Agent

Sami Haddad

Ashby & Graff License #02235797

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,660

Year Built

  • Built in 1940

Lot Details

  • 7,094 Sq Ft Lot
  • Gated Home
  • Partially Fenced Property

Home Design

  • Composition Roof
  • Wood Siding
  • Stucco Exterior

Additional Features

  • 1-Story Property
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Tenant pays for sewer, water, electricity, gas/propane
  • Assessor Parcel Number 538-160-15-00

Community Details

Overview

  • 2 Buildings
  • 2 Units

Pet Policy

  • Pets Allowed

Building Details

  • Net Operating Income $39,500

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,660

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Central
  • Cross Street: Franklin
  • Neighborhood: Logan Heights
  • Supplement: All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. South Coast Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions.
  • LP / Sq Ft: 18.7
  • Stories: 1 Story
  • Sale Price List Price: 0.96
  • Total Stories: 1
  • Year Built: 1940
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco, Wood, Wood/Stucco
  • Fencing: Gate, Partial
  • Roof: Composition

Utilities

  • Cooling: Wall/Window

Condo/Co-op/Association

  • Pets Allowed: Yes
  • Community: LOGAN HEIGHTS

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Assessor Parcel Number: 538-160-15-00
  • Estimated Lot Sq Ft: 7094

Rental Info

  • Tenant Pays: Sewer, Water, Electricity, Gas/Propane

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 39500
  • Annual Expense Actual: 23000
  • Gross Rent Multiplier Actual: 14.0
  • Gross Rent Multiplier Projected: 12.0
  • Gross Sched Income Actual: 62620
  • Gross Sched Income Projected: 76000
  • Number Of Buildings: 2
  • Number Of Units With Garage: 1
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 1
  • Number Of Units With Refrigerator: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 23, 2024
Closed on
Aug 28, 2024
Sold by
Revolve Developers Llc
Bought by
Haddad Sami Malek
Seller's Agent
Justin Santos
South Coast Commercial, Inc.
Buyer's Agent
Sami Haddad
Ashby & Graff
List Price
$949,000
Sold Price
$910,000
Premium/Discount to List
-$39,000
-4.11%
Views
41
Current Estimated Value
$924,111

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$14,111
Avg. Annual Appreciation
1.55%
Original Mortgage
$728,000
Outstanding Balance
$720,519
Interest Rate
6.47%
Mortgage Type
New Conventional
Estimated Equity
$203,592

Purchase Details

Closed on
Jul 9, 2021
Sold by
Revolve Developers Llc
Bought by
Jacks Adam and Jacks Katie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$459,700
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 4, 2020
Closed on
Nov 30, 2020
Sold by
Lf Life 3 Llc
Bought by
Revolve Developers Llc
Seller's Agent
Cheryl Gleghorn
Coldwell Banker West
Buyer's Agent
Cheryl Gleghorn
Coldwell Banker West
List Price
$550,000
Sold Price
$585,000
Premium/Discount to List
$35,000
6.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.02%
Original Mortgage
$438,750
Interest Rate
2.8%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 19, 2016
Sold by
Lf Life 5 Llc
Bought by
Lf Life 3 Llc

Purchase Details

Closed on
Oct 18, 2006
Sold by
Welsh Nita and Linayao Putman Irene
Bought by
Lf Life 5 Llc

Purchase Details

Closed on
Aug 18, 2006
Sold by
Linayao Fe Ramos
Bought by
Welsh Nita and Linayao Putman Irene

Purchase Details

Closed on
May 16, 2001
Sold by
Linayao Carlos Riego
Bought by
Linayao Carlos R and Linayao Fe R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$126,000
Interest Rate
7.06%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 6, 1995
Sold by
Linayao Carlos R and Linayao Fe R
Bought by
Linayao Carlos Riego

Purchase Details

Closed on
Jan 6, 1995
Sold by
Ramos Guadalupe
Bought by
Linayao Carlos R and Linayao Fe R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,600
Interest Rate
6.58%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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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
Haddad Sami Malek $910,000 Corinthian Title
Jacks Adam -- Wfg National Title
Revolve Developers Llc -- Accommodation
Jacks Adam -- Wfg National Title
Revolve Developers Llc $585,000 Guardian Title Company
Lf Life 3 Llc -- None Available
Lf Life 5 Llc -- None Available
Welsh Nita -- None Available
Linayao Carlos R -- Lawyers Title
Linayao Carlos Riego -- --
Linayao Carlos R $57,500 Guardian Title Company
Linayao Carlos R $57,500 Guardian Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Haddad Sami Malek $728,000
Previous Owner Jacks Adam $459,700
Previous Owner Revolve Developers Llc $438,750
Previous Owner Linayao Carlos R $350,000
Previous Owner Linayao Carlos R $126,000
Previous Owner Linayao Carlos R $91,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/18/2024 09/18/24 Sold $910,000 -4.1% $421 / Sq Ft
07/26/2024 07/26/24 Pending -- -- --
07/23/2024 07/23/24 For Sale $949,000 +62.2% $439 / Sq Ft
12/04/2020 12/04/20 Sold $585,000 +6.4% $270 / Sq Ft
11/12/2020 11/12/20 Pending -- -- --
11/04/2020 11/04/20 For Sale $550,000 -- $254 / 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 $7,660 $910,000 $575,556 $334,444
2024 $7,660 $620,805 $392,646 $228,159
2023 $7,490 $608,634 $384,948 $223,686
2022 $7,291 $596,700 $377,400 $219,300
2021 $7,242 $585,000 $370,000 $215,000
2020 $4,628 $373,634 $247,259 $126,375
2019 $4,546 $366,309 $242,411 $123,898
2018 $4,251 $359,127 $237,658 $121,469
2017 $1,970 $165,693 $130,244 $35,449
2016 $1,937 $162,445 $127,691 $34,754
2015 $1,909 $160,005 $125,773 $34,232
2014 $1,880 $156,872 $123,310 $33,562
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 240017044

San Diego MLS

APN: 538-160-15