$1,985,000
SOLD SEP 2, 2022
4 Beds
5 Baths
2,600 Sq Ft
4,372 Sq Ft Lot

Recently Sold

$763 Per Sq Ft

14% Below List Price

62 Days on Market

About This Home

As of September 2022

This is a fantastic opportunity to purchase a coastal three (3) unit complex (+1 non conforming Studio) in the high-demand rental market of Pacific Beach. The subject property is located on a 4,372sf lot consisting of one (1) 2Bedroom / 2Bathroom, (2) 1Bedroom / 1Bathroom unit and (1) non-conforming studio, and is situated directly across the street from Mission Bay. •Irreplaceable Coastal San Diego Real Estate •Great Unit Mix of 2bedroom and 1bedroom Units •Includes (1) Nonconforming Unit (Can Be Converted ADU) •Significant Value-Add Potential •(3) Single-Car Garages + (3) Off-Street Parking Spaces

Last Agent to Sell the Property

Angelo La Bruna

Apartment Realty Group (ARG) License #01991625 Listed on: 06/08/2022

Last Buyer's Agent

Jeff Davidson

First Team Real Estate License #01754672

Property Details

Home Type

  • Multi-Family

Year Built

  • 1967

Lot Details

  • 4,372 Sq Ft Lot
  • Cross Fenced

Home Design

  • Concrete Roof
  • Stucco Exterior

Additional Features

  • 2-Story Property
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Tenant pays for electricity, water
  • Assessor Parcel Number 424-502-05-00

Community Details

Overview

  • 3 Units
  • Restaurants And Local Services Community

Building Details

  • Net Operating Income $57,682

Property Details

Home Type

Multi-Family

Year Built

1967

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Market Area: Coastal South
  • Cross Street: Morell St
  • Neighborhood: 3980 Crown Point
  • Stories: 2 Story
  • Sale Price List Price: 0.93
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1967

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Cross Fencing
  • Roof: Concrete

Utilities

  • Cooling: Wall/Window

Condo/Co-op/Association

  • Complex Name: Restaurants and Local Services
  • Community: CROWN POINT

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Zoning: R-3:RESTRI
  • Assessor Parcel Number: 424-502-05-00
  • Estimated Lot Sq Ft: 4372

Rental Info

  • Tenant Pays: Electricity, Water

Multi Family

  • No. of Units: 3
  • Actual Net Operating Income: 57682
  • Annual Expense Actual: 33809
  • Gross Rent Multiplier Actual: 22.53
  • Gross Sched Income Actual: 94320
  • Gross Sched Income Projected: 117600
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 3
  • Number Of Units With Garage: 3
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 3
  • Number Of Units With Refrigerator: 3
  • Number Of Units With Washers: 3

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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
07/21/2025 07/21/25 Pending -- -- --
06/16/2025 06/16/25 Price Changed $2,395,000 -4.0% $911 / Sq Ft
05/23/2025 05/23/25 For Sale $2,495,000 +25.7% $949 / Sq Ft
09/02/2022 09/02/22 Sold $1,985,000 -6.6% $763 / Sq Ft
08/10/2022 08/10/22 Pending -- -- --
07/25/2022 07/25/22 Price Changed $2,125,000 -5.5% $817 / Sq Ft
07/07/2022 07/07/22 Price Changed $2,249,000 -2.0% $865 / Sq Ft
06/08/2022 06/08/22 For Sale $2,295,000 -- $883 / 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: 220014287

San Diego MLS

APN: 424-502-05-00