$2,101,000
SOLD NOV 20, 2023
12 Beds
8 Baths
3,828 Sq Ft
4,702 Sq Ft Lot

Recently Sold

$549 Per Sq Ft

3% Below List Price

25 Days on Market

Highlights

  • Gated Community
  • Partially Fenced Property
  • Level Lot

About This Home

As of November 2023

REDUCED $100K (10/25)! RARE FIND FOURPLEX offering four 3bed/2bath units fully rented with long-term leases! Located in the heart of San Diego with ample access to freeways, transportation, jobs, entertainment, and North Park nightlife blocks away. All units in great shape with two offering new kitchens installed within the last year. The property was completely rebuilt in 1990 (no cast-iron!). Property location qualifies the subject for add-value considerations under the Complete Communities zone (subject tier 3 FAR 6.5), Transit Priority Area zone, and the Opportunity Zone, which may qualify for substantial tax benefits. Tesla Solar installed passes on thousands of dollars in savings each year towards tenant electric bills Don’t miss your chance to own a fantastic long-term rental with strong rents and leases in place! Additional add-value options may exist through Complete Communities (located in tier 3 FAR 6.5) and being in a Transit Priority Area zone. Don’t miss your chance to own a fantastic long-term rental with strong rents and leases in place!

Last Agent to Sell the Property

Nick Emerson

Keller Williams La Jolla License #01897169 Listed on: 10/02/2023

Keller Williams La Jolla

Last Buyer's Agent

Kimberly Schmidt

Compass License #01781140

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1990

Lot Details

  • 4,702 Sq Ft Lot
  • Partially Fenced Property
  • Level Lot

Home Design

  • Composition Roof

Interior Spaces

  • 2-Story Property

Utilities

  • Cooling System Mounted To A Wall/Window
  • Separate Water Meter
  • Gas Water Heater

Community Details

  • 4 Units
  • Net Operating Income $61,068
  • Gated Community

Listing and Financial Details

  • Tenant pays for sewer, cable TV, electricity, gas/propane, hot water
  • Assessor Parcel Number 447-384-09-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1990

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: University
  • Neighborhood: North Park
  • Supplement: Additional add-value options may exist through Complete Communities (located in tier 3 FAR 6.5) and being in a Transit Priority Area zone. Don’t miss your chance to own a fantastic long-term rental with strong rents and leases in place!
  • Stories: 2 Story
  • Sale Price List Price: 0.97
  • Total Stories: 2
  • Year Built: 1990
  • Allow Comments Review: No
  • Internet Address Field: Partial Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Wood/Stucco
  • Fencing: Partial
  • Roof: Composition

Utilities

  • Cooling: Wall/Window
  • Security: Gated Community
  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas

Condo/Co-op/Association

  • Community: NORTH PARK

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Topography: Level
  • Water District: CITY OF SAN DIEGO
  • Zoning: CT 5-4
  • Assessor Parcel Number: 447-384-09-00
  • Estimated Lot Sq Ft: 4702
  • Estimated Number of Acres: 0.11
  • Map Code Column: F
  • Map Code Page: 1269
  • Map Code Row: 5

Rental Info

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

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 61068
  • Annual Expense Actual: 88932
  • Gross Rent Multiplier Actual: 12.66
  • Gross Rent Multiplier Projected: 12.96
  • Gross Sched Income Actual: 150000
  • Gross Sched Income Projected: 159600
  • Number Of Buildings: 1
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Dryers: 4
  • Number Of Units With Garage: 3
  • Number Of Units With Patios: 3
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 4

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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
11/20/2023 11/20/23 Sold $2,101,000 -3.1% $549 / Sq Ft
11/06/2023 11/06/23 Price Changed $2,168,800 +4.8% $567 / Sq Ft
10/28/2023 10/28/23 Pending -- -- --
10/25/2023 10/25/23 Price Changed $2,068,800 -4.6% $540 / Sq Ft
10/02/2023 10/02/23 For Sale $2,168,800 +14.1% $567 / Sq Ft
05/19/2023 05/19/23 Sold $1,900,000 +0.3% $496 / Sq Ft
05/03/2023 05/03/23 Pending -- -- --
04/25/2023 04/25/23 For Sale $1,895,000 +46.3% $495 / Sq Ft
03/15/2017 03/15/17 Sold $1,295,000 0.0% $338 / Sq Ft
02/08/2017 02/08/17 Pending -- -- --
10/13/2016 10/13/16 For Sale $1,295,000 -- $338 / 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: 230019372

San Diego MLS

APN: 447-384-09-00