NOT LISTED FOR SALE

3584-86 Villa Terrace San Diego, CA 92104

North Park Neighborhood
6 Beds
4 Baths
3,175 Sq Ft
0.52 Acres

Last Sold December 29, 2020

Last sale price $1,620,000 $510 Per Sq Ft

33 Days on Market

Highlights

  • 0.52 Acre Lot
  • Jefferson Elementary Rated A-
  • Partially Fenced Property

About This Home

As of December 2020

Pleased to present the rare opportunity to acquire a well maintained 3-unit property in the highly desirable North Park neighborhood, just two blocks North of Balboa Park / Morley Field. This property rests on a 6,072 SF lot with 3,179 of rentable SF. Comprised of (2) two-bedroom/one-bathroom units and (1) two-bedroom/two-bathroom unit, there are 2 stacked units in the front building and 1 unit above the garages in the back building. Attractive option to live in one unit and rent the others. This asset has been upgraded with major exterior and interior renovations to every unit. Tenants enjoy private garages and access to a communal coin-operated laundry room with a work sink and a half bathroom. This secure complex has ADT security throughout and is landscaped with low maintenance xeriscape complete with energy efficient timed pathway lights. This property offers investors the rare opportunity to be the proprietor of a stabilized asset in one of San Diego’s most profitable rental markets. With some of the best retailers in town establishing their roots here, North Park continues to draw in the highest quality and most desirable tenants in San Diego. Increasing market demand throughout the city will continue to keep vacancy low at this property with a steady increase in rents. Being within walking distance to North Park’s main attractions, this property is centrally located with the investor’s longevity in mind.

Last Agent to Sell the Property

Carson Trujillo

Whitewater CRE Inc License #01974818 Listed on: 09/30/2020

Co-Listed By

Leah La Masney

Compass License #02052163

Last Buyer's Agent

Kelly Madruga

Choice Properties License #00886754

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 0.52 Acre Lot
  • Partially Fenced Property

Home Design

  • Clay Roof
  • Stucco Exterior

Additional Features

  • 2-Story Property
  • Drip Irrigation
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 453-331-26-00

Community Details

Overview

  • 2 Buildings
  • 3 Units

Building Details

  • Net Operating Income $62,957

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: Dwight St
  • Neighborhood: North Park
  • Supplement: This asset has been upgraded with major exterior and interior renovations to every unit. Tenants enjoy private garages and access to a communal coin-operated laundry room with a work sink and a half bathroom. This secure complex has ADT security throughout and is landscaped with low maintenance xeriscape complete with energy efficient timed pathway lights. This property offers investors the rare opportunity to be the proprietor of a stabilized asset in one of San Diego’s most profitable rental markets. With some of the best retailers in town establishing their roots here, North Park continues to draw in the highest quality and most desirable tenants in San Diego. Increasing market demand throughout the city will continue to keep vacancy low at this property with a steady increase in rents. Being within walking distance to North Park’s main attractions, this property is centrally located with the investor’s longevity in mind.
  • Stories: 2 Story
  • Sale Price List Price: 0.98
  • Total Stories: 2
  • Year Built: 1928
  • 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
  • Fencing: Partial
  • Roof: Tile/Clay

Utilities

  • Sewer/Septic: Sewer Connected
  • Water: Available
  • Heat Equipment: Forced Air Unit

Condo/Co-op/Association

  • Community: SAN DIEGO

Lot Info

  • Irrigation: Drip
  • Lot Size: .5 to 1 AC
  • Site: Public Street, Sidewalks, Street Paved
  • Water District: CITY OF SAN DIEGO
  • Zoning: R-2
  • Assessor Parcel Number: 453-331-26-00
  • Water District URL: http://www.ci.san-diego.ca.us/water
  • Estimated Number of Acres: 0.52

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 3
  • Actual Net Operating Income: 62957
  • Annual Expense Actual: 28086
  • Gross Rent Multiplier Actual: 17.7
  • Gross Sched Income Actual: 93240
  • Number Of Buildings: 2
  • Number Of Units With Cooling: 1
  • Number Of Units With Dishwashers: 3
  • Number Of Units With Fireplaces: 1
  • Number Of Units With Garage: 3
  • Number Of Units With Patios: 3
  • Number Of Units With Range Oven: 3
  • Number Of Units With Refrigerator: 3
  • Other Income Actual: 600

Range of Values:

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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 Change Sq Ft Price
12/29/2020 12/29/20 Sold $1,620,000 -1.8% $510 / Sq Ft
11/03/2020 11/03/20 Pending -- -- --
10/19/2020 10/19/20 For Sale $1,650,000 0.0% $520 / Sq Ft
10/15/2020 10/15/20 Pending -- -- --
09/30/2020 09/30/20 For Sale $1,650,000 -- $520 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Carson Trujillo

    Seller's Agent in 2020

    Carson Trujillo

    Whitewater CRE Inc

    (858) 373-3285

    7 in this area

    33 Total Sales

    Section Image

  • L

    Seller Co-Listing Agent in 2020

    Leah La Masney

    Compass

    Section Image
  • Kelly Madruga

    Buyer's Agent in 2020

    Kelly Madruga

    Choice Properties

    (619) 993-1641

    1 in this area

    30 Total Sales

    Section Image
  • David Pitta

    Buyer Co-Listing Agent in 2020

    David Pitta

    Choice Properties

    (619) 895-1626

    1 in this area

    17 Total Sales

    Section Image
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Map

Source: San Diego MLS

MLS Number: 200046909

San Diego MLS

California San Diego County San Diego 92104 North Park

3584-86 Villa Terrace, San Diego, CA

This home is located at 3584-86 Villa Terrace, San Diego, CA 92104 since 30 September 2020. This property was built in 1928. 3584-86 Villa Terrace is a home located in San Diego County with nearby schools including Jefferson Elementary, Roosevelt International Middle School, and Kindred Montessori.

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