$1,475,000
SOLD APR 15, 2019
2 Beds
2 Baths
1,243 Sq Ft
3,125 Sq Ft Lot

Recently Sold

$1,187 Per Sq Ft

9% Below List Price

181 Days on Market

Highlights

  • Partially Fenced Property
  • Wood Siding
  • 1-Story Property
  • La Jolla Elementary School Rated A
  • West of 101 Freeway
  • 2-minute walk to Mt. Soledad National Veterans Memorial

About This Home

As of April 2019

Steps from WIND-N-SEA BEACH, this rare opportunity offers to own a well located investment property, West of La Jolla Blvd. This 2 unit residential property is located on one of the most sought after streets in La Jolla. The residential units can currently be rented as either long-term or vacation rentals. The front house had recent remodeling, including new flooring, newly painted throughout, including the kitchen cabinets. Redevelopment Opportunity as well with property. CALL AGENT FOR INFO & SHOWING! PRICE REDUCTION, Investment Property on the west side of La Jolla Blvd on the iconic Nautilus Street and steps to Wind-n-Sea Beach. This 2 cottage rental/investment property is ready for vacation or long-term rentals. A buyer can purchase the property with the existing two cottage units and do vacation or long-term rentals or the buyer can do a redevelopment/buildout and go 2 story with a rooftop decks for spanning ocean views! This is a rare opportunity that does not come on the market very often on the west side of La Jolla Blvd and on the famed Nautilus Street. Come tour this great beach area property opportunity!!

Last Agent to Sell the Property

Eric Jones

Pacific Sotheby's International Realty License #01179104 Listed on: 09/17/2018

Pacific Sotheby's International Realty

Last Buyer's Agent

Renee Yomtob

Berkshire Hathaway HomeServices California Properties License #02039018

Berkshire Hathaway HomeServices California Properties

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 3,125 Sq Ft Lot
  • Partially Fenced Property
  • Irrigation

Parking

  • Alley Access

Home Design

  • Composition Roof
  • Wood Siding

Interior Spaces

  • 1-Story Property

Location

  • West of 101 Freeway
  • West of 5 Freeway

Schools

  • San Diego Unified School District Elementary School

Utilities

  • Pellet Stove burns compressed wood to generate heat
  • Gravity Heating System
  • Heating System Uses Natural Gas
  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for sewer, trash, water, electricity, gas/propane, hot water
  • Assessor Parcel Number 351-270-13-00

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Wind N Sea Community

Pet Policy

  • Pets Allowed

Building Details

  • Net Operating Income $54,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal South
  • Cross Street: La Jolla Blvd
  • Neighborhood: Wind-n-Sea Beach
  • Supplement: PRICE REDUCTION, Investment Property on the west side of La Jolla Blvd on the iconic Nautilus Street and steps to Wind-n-Sea Beach. This 2 cottage rental/investment property is ready for vacation or long-term rentals. A buyer can purchase the property with the existing two cottage units and do vacation or long-term rentals or the buyer can do a redevelopment/buildout and go 2 story with a rooftop decks for spanning ocean views! This is a rare opportunity that does not come on the market very often on the west side of La Jolla Blvd and on the famed Nautilus Street. Come tour this great beach area property opportunity!!
  • Stories: 1 Story
  • Sale Price List Price: 0.95
  • Total Stories: 1
  • Year Built: 1950
  • 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: Wood
  • Fencing: Partial
  • Roof: Composition

Utilities

  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Heat Equipment: Pellet/Wood Burning Stove, Wall/Gravity

Condo/Co-op/Association

  • Complex Name: Wind-n-Sea
  • Pets Allowed: Yes
  • Community: LA JOLLA
  • Manager Name: Eric Jones
  • Manager Phone: 619-885-8003

Schools

  • Elementary School: San Diego Unified School District
  • Elementary School Website: https://www.sandiegounified.org/

Lot Info

  • Irrigation: Manual
  • Lot Size: 1-3,999 SF
  • Site: Alley Access, Public Street, Sidewalks, Street Paved, West of I-5, West of 101
  • Water District: CITY OF SAN DIEGO
  • Assessor Parcel Number: 351-270-13-00
  • Estimated Lot Dimensions: 25 x 125
  • Estimated Lot Sq Ft: 3125
  • Water District URL: http://www.ci.san-diego.ca.us/water

Rental Info

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

Multi Family

  • No. of Units: 2
  • Actual Net Operating Income: 54000
  • Annual Expense Actual: 4800
  • Gross Rent Multiplier Actual: 27.6
  • Gross Rent Multiplier Projected: 26.8
  • Gross Sched Income Actual: 58800
  • Gross Sched Income Projected: 60600
  • Number Of Buildings: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Fireplaces: 1
  • Number Of Units With Garage: 1
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Range of Values:

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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
02/20/2023 02/20/23 Rented $3,500 0.0% --
02/07/2023 02/07/23 For Rent $3,500 0.0% --
04/15/2019 04/15/19 Sold $1,475,000 -4.8% $1,187 / Sq Ft
03/18/2019 03/18/19 Pending -- -- --
02/25/2019 02/25/19 Price Changed $1,549,000 -3.1% $1,246 / Sq Ft
01/07/2019 01/07/19 Price Changed $1,599,000 -1.6% $1,286 / Sq Ft
01/07/2019 01/07/19 For Sale $1,625,000 0.0% $1,307 / Sq Ft
12/17/2018 12/17/18 Pending -- -- --
12/04/2018 12/04/18 For Sale $1,625,000 0.0% $1,307 / Sq Ft
11/12/2018 11/12/18 Pending -- -- --
09/17/2018 09/17/18 For Sale $1,625,000 -- $1,307 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 180052182

San Diego MLS

APN: 351-270-13-00