NOT LISTED FOR SALE

Estimated Value: $3,322,066

6 Beds
6 Baths
5,100 Sq Ft
$651/Sq Ft Est. Value

Last Sold March 24, 2021

Last sale price $2,575,000 $505 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $18,336/month

39 Days on Market

Highlights

  • Gated Community
  • Valley View
  • Central Air
  • 0.45 Acre Lot
  • Fireplace
  • Gated Home

About This Home

As of March 2021

Located in one of San Diego’s most sought-after neighborhoods, this Bankers Hill property boasts many unique features including fireplaces and built-ins. The top-floor unit has a beautiful chef’s kitchen and the others have updated kitchens and baths. Ideal for short or long-term rental, you'll enjoy the income potential and lifestyle afforded at this property overlooking a canyon and on a cul de sac with lovely grounds and 4 storage garages. Designated historical with Mills Act in progress. Within walking distance to Hillcrest and Balboa Park and with 5100+ square feet, these units are layered in light from numerous windows. The southwest exposure fills the rooms with sunlight and highlights sumptuous textures of this elegant, classic property. The canyon vistas form a lovely backdrop that elevates the residence to one-of-a-kind status. Step into the formal shared entry with its elegant wood staircase leading to the upstairs unit and with access to the other residences. All of the units are special, complete with fireplaces, built-ins, and charming window seats from which to take in the views from expansive windows. Abundant wood trim, moldings and hardwood floors create a special warmth and ambiance reminiscent of an earlier era. This vintage 1913 property has been meticulously and lovingly restored in a manner which maintains its historic character, yet has numerous upgrades to insure modern conveniences. Some upgrades include updated electrical and plumbing, updated kitchens, and Unit 4 (the owner’s unit, which is leased until October of 2021) has a stunning chef’s kitchen with high-end appliances, marble surfaces, & beautiful lighting and fixtures, which is open to the dining area. NOTE: Lower-level kitchen was updated within the past 10 years and both 1-bedroom units have updated kitchens and baths. Owner is currently using 3 of the garages. Other income is laundry; projected other income is laundry and garages if rented at $150 per month. A huge bonus is the recent historical designation, with Mills Act tax savings beginning in November of 2022. Need we say more to convince you that this is a unique opportunity that shouldn't be missed??

Last Agent to Sell the Property

Gina Barnes

Compass License #01075249 Listed on: 01/16/2021

Compass

Co-Listed By

Ken Tablang

Compass License #01063993

Last Buyer's Agent

Gina Barnes

Compass License #01075249 Listed on: 01/16/2021

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,124

Year Built

  • Built in 1913

Lot Details

  • 0.45 Acre Lot
  • Gated Home
  • Level Lot

Home Design

  • Composition Roof
  • Stucco Exterior

Interior Spaces

  • 3-Story Property
  • Fireplace
  • Valley Views

Utilities

  • Central Air
  • Heating System Uses Natural Gas
  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas/propane, hot water
  • Assessor Parcel Number 452-254-58-00

Community Details

Overview

  • 4 Units
  • Prime Bankers Hill Community

Pet Policy

  • Pets Allowed

Additional Features

  • Net Operating Income $90,560
  • Gated Community

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,124

Year Built

Built in 1913

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: Brooks
  • Neighborhood: Bankers Hill
  • Supplement: Within walking distance to Hillcrest and Balboa Park and with 5100+ square feet, these units are layered in light from numerous windows. The southwest exposure fills the rooms with sunlight and highlights sumptuous textures of this elegant, classic property. The canyon vistas form a lovely backdrop that elevates the residence to one-of-a-kind status. Step into the formal shared entry with its elegant wood staircase leading to the upstairs unit and with access to the other residences. All of the units are special, complete with fireplaces, built-ins, and charming window seats from which to take in the views from expansive windows. Abundant wood trim, moldings and hardwood floors create a special warmth and ambiance reminiscent of an earlier era. This vintage 1913 property has been meticulously and lovingly restored in a manner which maintains its historic character, yet has numerous upgrades to insure modern conveniences. Some upgrades include updated electrical and plumbing, updated kitchens, and Unit 4 (the owner’s unit, which is leased until October of 2021) has a stunning chef’s kitchen with high-end appliances, marble surfaces, & beautiful lighting and fixtures, which is open to the dining area. NOTE: Lower-level kitchen was updated within the past 10 years and both 1-bedroom units have updated kitchens and baths. Owner is currently using 3 of the garages. Other income is laundry; projected other income is laundry and garages if rented at $150 per month. A huge bonus is the recent historical designation, with Mills Act tax savings beginning in November of 2022. Need we say more to convince you that this is a unique opportunity that shouldn't be missed??
  • Stories: 3 Story
  • Sale Price List Price: 0.96
  • Total Stories: 3
  • Year Built: 1913
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U4: 2
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Gate
  • Roof: Composition
  • View: Valley/Canyon

Utilities

  • Cooling: Central Forced Air
  • Security: Gated Community
  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Heat Equipment: Combination Heating, Fireplace

Condo/Co-op/Association

  • Complex Name: Prime Bankers Hill
  • Pets Allowed: Yes
  • Community: HILLCREST
  • Complex Features: Gated Community
  • Manager Name: Owner

Lot Info

  • Lot Size: .25 to .5 AC
  • Topography: Level, Slope Gentle
  • Water District: CITY OF SAN DIEGO
  • Zoning: R-2
  • Assessor Parcel Number: 452-254-58-00
  • Estimated Lot Dimensions: 150x130x150x130
  • Estimated Lot Sq Ft: 19442
  • Water District URL: http://www.ci.san-diego.ca.us/water
  • Estimated Number of Acres: 0.45
  • Map Code Column: A
  • Map Code Page: 1269
  • Map Code Row: 6

Rental Info

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

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 90560
  • Gross Rent Multiplier Actual: 22.4
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 4
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Dryers: 1
  • Number Of Units With Fireplaces: 4
  • Number Of Units With Garage: 4
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 1
  • Other Income Actual: 1200
  • Other Income Projected: 6600.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 19, 2024
Sold by
Bradfute David Lyle
Bought by
David L Bradfute Trust and Bradfute
Current Estimated Value
$3,322,066

Purchase Details

Listed on
Jan 16, 2021
Closed on
Mar 8, 2021
Sold by
Yon Yuri Alejandro Pineda
Bought by
Bradfute David Lyle
Seller's Agent
Gina Barnes
Compass
Buyer's Agent
Gina Barnes
Compass
List Price
$2,675,000
Sold Price
$2,575,000
Premium/Discount to List
-$100,000
-3.74%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.58%
Original Mortgage
$1,802,500
Interest Rate
2.73%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 16, 2021
Closed on
Mar 5, 2021
Sold by
Utech Thomas W and The Thomas W Utech Trust
Bought by
Bradfute David Lyle
Seller's Agent
Gina Barnes
Compass
Buyer's Agent
Gina Barnes
Compass
List Price
$2,675,000
Sold Price
$2,575,000
Premium/Discount to List
-$100,000
-3.74%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,802,500
Interest Rate
2.73%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 2, 2015
Sold by
Roberts Mark E and Zambito Salvatore S
Bought by
Utech Thomas W and The Thomas W Utech Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,435,000
Interest Rate
4.05%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 21, 1998
Sold by
Brown Carolyn M
Bought by
Roberts Mark E and Zambito Salvatore S

Purchase Details

Closed on
Jun 22, 1989
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
David L Bradfute Trust -- None Listed On Document
David L Bradfute Trust -- None Listed On Document
Bradfute David Lyle -- Fidelity Natl Ttl San Diego
Bradfute David Lyle $2,575,000 Fidelity Natl Ttl San Diego
Utech Thomas W $2,215,000 Fidelity Natl Title Co
Roberts Mark E $89,500 First American Title
Brown Carolyn -- First American Title
-- $400,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bradfute David Lyle $1,802,500
Previous Owner Utech Thomas W $1,435,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/24/2021 03/24/21 Sold $2,575,000 -3.7% $505 / Sq Ft
02/25/2021 02/25/21 Pending -- -- --
01/16/2021 01/16/21 For Sale $2,675,000 -- $525 / 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 $10,124 $862,520 $493,512 $369,008
2024 $10,124 $818,869 $467,321 $351,548
2023 $11,456 $1,040,782 $606,469 $434,313
2022 $12,718 $1,040,782 $606,469 $434,313
2021 $30,023 $2,433,145 $1,203,009 $1,230,136
2020 $29,659 $2,408,197 $1,190,674 $1,217,523
2019 $29,043 $2,360,978 $1,167,328 $1,193,650
2018 $27,148 $2,314,686 $1,144,440 $1,170,246
2017 $26,384 $2,259,300 $1,122,000 $1,137,300
2016 $25,964 $2,215,000 $1,100,000 $1,115,000
2015 $10,663 $911,789 $480,003 $431,786
2014 $10,494 $893,929 $470,601 $423,328
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 210001336

San Diego MLS

APN: 452-254-58