NOT LISTED FOR SALE

3550 Meade Ave San Diego, CA 92116

Normal Heights Neighborhood

Estimated Value: $963,000 - $1,332,000

2 Beds
2 Baths
1,122 Sq Ft
$989/Sq Ft Est. Value

Last Sold November 05, 2021

Last sale price $915,000 $816 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $6,883/month

40 Days on Market

Highlights

  • Corner Lot
  • Property is Fully Fenced
  • 1-Story Property
  • Zoned Heating and Cooling

About This Home

As of November 2021

Gorgeous turnkey property, just a close walk away from downtown Normal Heights and North Park with great vacation rental income. Check out 3D tour. Completely private and fully fenced two detached buildings with lots of charm. Both homes are recently remodelled with wood floors, curved doorways, built in cabinets and modern baths and kitchens. Front home has large fenced private yard, seperate dining room, sliding doors,fans, historic details and mirrored closets. Rear studio unit has private patio, high ceilings, full bath and small kitchen. Parking space available on fenced property. Washer dryer included. Electrical, plumbing, a/c, roofs, windows, doors all installed recently and (fully paid for) solar means sellers have not paid more than $21 for electricity. Property is rented as vacation rental. Front house averages $180/night, 72% occupancy, $47,361 income per year. Back unit averages $101/night, 73%occupancy, 26,886 per year. Property is professionally managed and sellers pay 20% mgmt fee. Potential for self managed property to have higher income. Could sell fully furnished for immediate use. Sale subject to buyer doing 1031 exchange at no expense to buyer.

Last Agent to Sell the Property

Helen Grebenc

LPT Realty,Inc License #01012405 Listed on: 08/26/2021

LPT Realty,Inc

Last Buyer's Agent

Ryan Trainotti

Tidal Realty License #02120025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,737

Year Built

  • Built in 1936

Lot Details

  • Property is Fully Fenced
  • Corner Lot
  • Level Lot

Home Design

  • Composition Roof
  • Stucco Exterior

Interior Spaces

  • 1-Story Property

Utilities

  • Zoned Heating and Cooling
  • Separate Water Meter

Listing and Financial Details

  • Assessor Parcel Number 447-101-18-00

Community Details

Overview

  • 2 Buildings
  • 2 Units

Building Details

  • Net Operating Income $45,930

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,737

Year Built

Built in 1936

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: Wilson
  • Neighborhood: Normal Heights
  • Stories: 1 Story
  • Sale Price List Price: 1.02
  • Total Stories: 1
  • Year Built: 1936
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Full
  • Roof: Composition

Utilities

  • Cooling: Zoned Area(s)
  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Heat Equipment: Zoned Areas

Condo/Co-op/Association

  • Community: NORMAL HEIGHTS

Lot Info

  • Lot Size: 1-3,999 SF
  • Site: Corner Lot, Curbs, Public Street, Sidewalks, Street Paved
  • Topography: Level
  • Assessor Parcel Number: 447-101-18-00

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 45930
  • Annual Expense Actual: 28587
  • Gross Rent Multiplier Actual: 12.0
  • Gross Sched Income Actual: 74517
  • Number Of Buildings: 2
  • Number Of Furnished Units: 2
  • Number Of Units With Cooling: 2
  • Number Of Units With Dishwashers: 1
  • Number Of Units With Dryers: 1
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 1
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 26, 2021
Closed on
Oct 11, 2021
Sold by
Armendariz Pablo David and Armendariz Sarah Marmion
Bought by
Smallwood Gary
Seller's Agent
Helen Grebenc
LPT Realty,Inc
Buyer's Agent
Ryan Trainotti
Tidal Realty
List Price
$950,000
Sold Price
$915,000
Premium/Discount to List
-$35,000
-3.68%
Current Estimated Value
$1,109,508

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$194,508
Avg. Annual Appreciation
5.04%
Original Mortgage
$915,000
Outstanding Balance
$835,361
Interest Rate
2.88%
Mortgage Type
VA
Estimated Equity
$274,147

Purchase Details

Closed on
Sep 10, 2019
Sold by
Osisioma Chinemerem and Osisioma Alexandra
Bought by
Armendariz Pablo David and Armendariz Sarah Marmion

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$518,250
Interest Rate
3.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 28, 2018
Sold by
Osisioma Chinemerem
Bought by
Osisioma Chinemerem and Osisioma Alexandra

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,500
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 24, 2018
Sold by
Osisioma Alexandra
Bought by
Osisioma Chinemerem

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 20, 2018
Sold by
Socal Metro Holdings Llc
Bought by
Osisioma Chinemerem

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 23, 2018
Sold by
Pheifer Keith P and Pheifer Paula A
Bought by
Socal Metro Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$455,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 1, 1990
Bought by
Pheifer Keith P Paula A

Purchase Details

Closed on
Jun 5, 1984
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
Smallwood Gary $915,000 Chicago Title Company
Armendariz Pablo David $691,000 California Title Company
Osisioma Chinemerem -- Chicago Title Company
Osisioma Chinemerem -- Lawyers Title
Osisioma Chinemerem $540,000 Lawyers Title
Socal Metro Holdings Llc $505,000 Lawyers Title
Pheifer Keith P Paula A $114,000 --
-- $78,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smallwood Gary $915,000
Previous Owner Armendariz Pablo David $518,250
Previous Owner Osisioma Chinemerem $487,500
Previous Owner Osisioma Chinemerem $455,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/05/2021 11/05/21 Sold $915,000 +1.7% $816 / Sq Ft
10/06/2021 10/06/21 Pending -- -- --
09/15/2021 09/15/21 Price Changed $900,000 -5.3% $802 / Sq Ft
08/26/2021 08/26/21 For Sale $950,000 -- $847 / 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 $11,737 $971,005 $557,134 $413,871
2024 $11,737 $951,966 $546,210 $405,756
2023 $11,467 $933,300 $535,500 $397,800
2022 $11,163 $915,000 $525,000 $390,000
2021 $8,635 $698,158 $454,662 $243,496
2020 $8,531 $691,000 $450,000 $241,000
2019 $6,819 $550,800 $469,200 $81,600
2018 $2,073 $180,686 $90,343 $90,343
2017 $2,022 $177,144 $88,572 $88,572
2016 $1,987 $173,672 $86,836 $86,836
2015 $1,957 $171,064 $85,532 $85,532
2014 $1,925 $167,714 $83,857 $83,857
Source: Public Records

Agents Affiliated with this Home

  • Helen Grebenc

    Seller's Agent in 2021

    Helen Grebenc

    LPT Realty,Inc

    (619) 384-7330

    1 in this area

    14 Total Sales

    Helen Grebenc
    Section Image

  • R

    Buyer's Agent in 2021

    Ryan Trainotti

    Tidal Realty

See All Agents

Map

Source: San Diego MLS

MLS Number: 210024423

San Diego MLS

APN: 447-101-18

California San Diego County San Diego 92104 Normal Heights

3550 Meade Ave, San Diego, CA

This home is located at 3550 Meade Ave, San Diego, CA 92116 since 26 August 2021 and is currently estimated at $1,109,508, approximately $988 per square foot. This property was built in 1936. 3550 Meade Ave is a home located in San Diego County with nearby schools including Normal Heights Elementary, Wilson Middle School, and Herbert Hoover High School.

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