3289 Ibis St San Diego, CA 92103
Middletown Neighborhood
2
Beds
2
Baths
960
Sq Ft
3,487
Sq Ft Lot
Highlights
- Laundry Facilities
- Partially Fenced Property
- 1-Story Property
- Grant K-8 Rated A-
- Gentle Sloping Lot
About This Home
As of November 2024The property located at 3289-3291 Ibis Street consists of 2 units located in San Diego, California. Following the completion of renovations, a 25-30% upside in rental income is projected. This property is located in the desirable Middletown/South Mission Hills neighborhood, in close proximity to Old Town, Bankers Hill, Balboa Park, Little Italy, and Downtown. Constructed in 1957, the property features two 1-bedroom/1-bathroom units, each approximately 480 SF (960 total SF) on a 3,487 SF lot. Additional amenities include a private backyard, epoxy coated concrete walkways, drought-resistant landscaping, laminate flooring, a recently upgraded pitched roof, and vinyl fencing. Furthermore, there is a value-add opportunity through the implementation of RUBS, enabling tenants to contribute to a portion of the utility expenses. The City of San Diego is recognized as one of the most robust rental markets in the county, with consistently high demand for apartment rentals. Historic occupancy rates in this sub-market are estimated to be approximately 97%-100%, while rental prices continue to increase. The neighborhood also boasts excellent access to major transportation routes, including Interstates 5, 163, and 8, providing convenient connections to key employment hubs throughout the greater San Diego area. Please do not communicate with or disturb any of the residents. Unit square footage is estimated based on the number provided by title services.
Last Agent to Sell the Property
MD Real Estate, Inc License #01491108 Listed on: 10/05/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,001
Year Built
- Built in 1957
Lot Details
- 3,487 Sq Ft Lot
- Partially Fenced Property
- Gentle Sloping Lot
- Unpaved Streets
Home Design
- Composition Roof
- Stucco Exterior
Interior Spaces
- 1-Story Property
Utilities
- Cooling System Mounted To A Wall/Window
- Gravity Heating System
- Heating System Uses Natural Gas
- Separate Water Meter
- Gas Water Heater
Community Details
- 2 Units
- Laundry Facilities
- Net Operating Income $25,061
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas/propane, hot water
- Assessor Parcel Number 451-542-03-00
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 5, 2024
Closed on
Nov 5, 2024
Sold by
Smith Segien Family Trust and Smith Richard Claud
Bought by
Bongiorni John G
Seller's Agent
Matt Robinson
MD Real Estate, Inc
Buyer's Agent
Matt Robinson
MD Real Estate, Inc
List Price
$825,000
Sold Price
$812,000
Premium/Discount to List
-$13,000
-1.58%
Views
82
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$66,403
Avg. Annual Appreciation
16.77%
Original Mortgage
$771,400
Outstanding Balance
$765,288
Interest Rate
6.12%
Mortgage Type
New Conventional
Estimated Equity
$141,219
Purchase Details
Closed on
Sep 14, 2007
Sold by
Smith Richard Claud and Segien Julia Sandra
Bought by
Smith Richard Claud and Segien Julia Sandra
Purchase Details
Closed on
Jun 25, 1999
Sold by
Claud Smith Richard
Bought by
Smith Richard Claudia and Segien Julia Sandy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
7.05%
Purchase Details
Closed on
Oct 6, 1983
Similar Homes in San Diego, CA
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $812,000 | Chicago Title | |
| Grant Deed | $812,000 | Chicago Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Interfamily Deed Transfer | -- | New Century Title Company | |
| Deed | $78,800 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $771,400 | New Conventional | |
| Closed | $771,400 | New Conventional | |
| Previous Owner | $54,500 | Unknown | |
| Previous Owner | $60,000 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/19/2024 11/19/24 | Sold | $812,000 | -1.6% | $846 / Sq Ft |
| 10/21/2024 10/21/24 | Pending | -- | -- | -- |
| 10/05/2024 10/05/24 | For Sale | $825,000 | -- | $859 / Sq Ft |
Source: San Diego MLS
Tax History Compared to Growth
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 | $2,001 | $812,000 | $740,000 | $72,000 |
| 2024 | $2,001 | $160,016 | $65,635 | $94,381 |
| 2023 | $1,956 | $156,880 | $64,349 | $92,531 |
| 2022 | $1,904 | $153,805 | $63,088 | $90,717 |
| 2021 | $1,891 | $150,790 | $61,851 | $88,939 |
| 2020 | $1,869 | $149,245 | $61,217 | $88,028 |
| 2019 | $1,836 | $146,319 | $60,017 | $86,302 |
| 2018 | $1,718 | $143,451 | $58,841 | $84,610 |
| 2017 | $1,677 | $140,639 | $57,688 | $82,951 |
| 2016 | $1,649 | $137,882 | $56,557 | $81,325 |
| 2015 | $1,625 | $135,812 | $55,708 | $80,104 |
| 2014 | $1,601 | $133,152 | $54,617 | $78,535 |
Source: Public Records
Agents Affiliated with this Home
-
Seller's Agent in 2024
Matt Robinson
MD Real Estate, Inc
(858) 361-3159
1 in this area
14 Total Sales
Map
Source: San Diego MLS
MLS Number: 240023719
APN: 451-542-03
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