NOT LISTED FOR SALE
-- Bed
-- Bath
3,120 Sq Ft
6,000 Sq Ft Lot

Last Sold January 11, 2021

Last sale price $1,020,000 $327 Per Sq Ft

11 Days on Market

About This Home

As of January 2021

Incredible cash flow for this fully fenced 4-unit building consisting of four 2 bedroom/1 bath units! Owner is willing to rent entire building back at market rate for long term after COE. The property has been used as an AirBNB investment with all four units almost always occupied as guests love its proximity to the Downtown Convention Center, the Gas Lamp district and Coronado island. Strong ACs in bedrooms and kitchen and four reserved parking spots in the front of the building. Additional features: CCTV security cameras surround the building. Three AC units in each apartment. Large lot in the back with opportunity to build on. Sellers AirBNB cleaning service is available to the new owners at COE. This building may also be purchased with its twin building next door containing four more units (one water meter services both buildings). Make money day one of ownership as AirBNB rentals or use them for long term rentals.

Last Agent to Sell the Property

John La Mattery

LPT Realty, Inc. License #01374103 Listed on: 11/14/2020

LPT Realty, Inc.

Co-Listed By

Daniel Lecuna

Los Angeles Times License #01876568

Last Buyer's Agent

Gregory Santos

Compass License #02041967

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 6,000 Sq Ft Lot
  • 1 Common Wall
  • Level Lot

Home Design

  • Property Attached

Interior Spaces

  • 3,120 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Listing and Financial Details

  • Tax Lot 000276
  • Tax Tract Number 276
  • Assessor Parcel Number 5456711900

Community Details

Building Details

  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • Insurance Expense $2,300
  • Maintenance Expense $9,000
  • Other Expense $15,500
  • Operating Expense $40,000
  • Gross Income $144,000
  • Net Operating Income $89,600

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Listing Details

  • CapRate: 8.50
  • Property Attached: Yes
  • Zoning: R-4:MULTIPLE RESIDENTIAL
  • Property Type: Residential Income
  • Parcel Number: 5456711900
  • Year Built: 1958
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 326.92

Exterior Features

  • Pool Private: No

Garage/Parking

  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 6000.00
  • Lot Size Acres: 0.1300

Multi Family

  • Average2 Bed Area: 800 Square Feet
  • Gross Income: 144000.00
  • Gross Scheduled Income: 144000.00
  • Insurance Expense: 2300.00
  • Lot Size Area: 6000.0000 Square Feet
  • Maintenance Expense: 9000.00
  • Net Operating Income: 89600.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 2
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 40000.00
  • Other Expense: 15500.00
  • Other Expense Description: Cleaning
  • Rent Control: No
  • Total Actual Rent: 144000.00
  • Total Expenses: 40000.00
  • Vacancy Allowance: 14400

Tax Info

  • Tax Lot: 000276
  • Tax Tract Number: 000276

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

Property History

Date Event Price List to Sale Price per Sq Ft
01/11/2021 01/11/21 Sold $1,020,000 -1.9% $327 / Sq Ft
11/25/2020 11/25/20 Pending -- -- --
11/14/2020 11/14/20 For Sale $1,040,000 -- $333 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2001452

California Regional Multiple Listing Service (CRMLS)