NOT LISTED FOR SALE

4242 37th St San Diego, CA 92105

Corridor Neighborhood
8 Beds
6 Baths
3,571 Sq Ft
6,198 Sq Ft Lot

Last Sold September 01, 2020

Last sale price $940,000 $263 Per Sq Ft

51 Days on Market

About This Home

As of September 2020

Fixer 4-plex!- SOLD AS-IS. Price reflects condition. Huge potential for upside rent growth and increased value. Front 2 units are charming 2BR/1BA craftsman-- Rear building features 2 townhouse units with 2BR/1.5BA each 1,120sf, laundry room, and spacious bedrooms. Each unit comes with a 1-car Garage and an additional 5th garage for owner storage or additional rental income. Directly across the street is the new Wilson Jr. High School set to open in Fall 2020. Supplement to 4242-48 37h St: These 4 units with 5 Garages have tremendous upside potential for solid rental income. There are 2 older, but extremely charming, SFR’s on street featuring 2BR/1BA each. Across the back is a 2-story building featuring 2 units each with 2BR/1.5BA, a separate laundry room with half bath, 1,120 square feet, and a generous 1-car Garage. Although there are 2 APN’s it is one legal property with over 6,000 sf of lot size. Directly across from the subject is the beautiful brand new Wilson Jr. High School. Almost the entire block is being transformed into the technologically advanced new Jr. High School, a new Elementary School where the current Jr High is, a new Community Center, Arts Theater, and a 2-level solar parking structure along the El Cajon Blvd border of project. The school is nearing completion with plans for new curbs, gutters, and street resurfacing. With a little remodeling and updating these units will be a cash cow generator for the next Owner. Current Owner not distressed, but motivated to settle some outstanding Estate directives. Price reflects overall condition, as well as current market fluctuations and uncertainties.

Last Agent to Sell the Property

Gregory Scott

Pacific One Realty License #00495910 Listed on: 05/19/2020

Co-Listed By

Hillary Austin

Pacific One Realty License #01828146

Last Buyer's Agent

Alex Joehnk

Alex Joehnk Real Estate License #01785311

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 6,198 Sq Ft Lot
  • Partially Fenced Property
  • Level Lot

Home Design

  • Composition Roof
  • Stucco Exterior

Utilities

  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, hot water
  • Assessor Parcel Number 447-252-24-00

Community Details

Overview

  • 3 Buildings
  • 4 Units

Building Details

  • Net Operating Income $41,241

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: El Cajon Blvd.
  • Neighborhood: Teralta
  • Supplement: Supplement to 4242-48 37h St: These 4 units with 5 Garages have tremendous upside potential for solid rental income. There are 2 older, but extremely charming, SFR’s on street featuring 2BR/1BA each. Across the back is a 2-story building featuring 2 units each with 2BR/1.5BA, a separate laundry room with half bath, 1,120 square feet, and a generous 1-car Garage. Although there are 2 APN’s it is one legal property with over 6,000 sf of lot size. Directly across from the subject is the beautiful brand new Wilson Jr. High School. Almost the entire block is being transformed into the technologically advanced new Jr. High School, a new Elementary School where the current Jr High is, a new Community Center, Arts Theater, and a 2-level solar parking structure along the El Cajon Blvd border of project. The school is nearing completion with plans for new curbs, gutters, and street resurfacing. With a little remodeling and updating these units will be a cash cow generator for the next Owner. Current Owner not distressed, but motivated to settle some outstanding Estate directives. Price reflects overall condition, as well as current market fluctuations and uncertainties.
  • LP / Sq Ft: 16.16
  • Sale Price List Price: 0.95
  • 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: Composition

Utilities

  • Water: Available, Meter on Property
  • Water Heater Type: Gas

Condo/Co-op/Association

  • Community: CITY HEIGHTS

Lot Info

  • Lot Size: 4,000-7,499 SF
  • Topography: Level
  • Assessor Parcel Number: 447-252-24-00
  • Estimated Lot Sq Ft: 6198
  • Map Code Column: G
  • Map Code Page: 1269
  • Map Code Row: 4

Rental Info

  • Tenant Pays: Electricity, Hot Water

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 41241
  • Gross Rent Multiplier Actual: 11.18
  • Gross Rent Multiplier Projected: 11.18
  • Number Of Buildings: 3
  • Number Of Units With Dryers: 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: 4

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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 List to Sale Price per Sq Ft
09/01/2020 09/01/20 Sold $940,000 -4.8% $263 / Sq Ft
07/10/2020 07/10/20 Pending -- -- --
06/22/2020 06/22/20 For Sale $987,000 0.0% $276 / Sq Ft
05/23/2020 05/23/20 Pending -- -- --
05/19/2020 05/19/20 For Sale $987,000 -- $276 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Gregory Scott

    Seller's Agent in 2020

    Gregory Scott

    Pacific One Realty

    (619) 972-6258

    28 Total Sales

    Gregory Scott
    Section Image
  • Hillary Austin

    Seller Co-Listing Agent in 2020

    Hillary Austin

    Pacific One Realty

    (619) 277-2239

    36 Total Sales

    Hillary Austin
    Section Image
  • Alex Joehnk

    Buyer's Agent in 2020

    Alex Joehnk

    Alex Joehnk Real Estate

    (858) 232-8355

    4 Total Sales

    Alex Joehnk
    Section Image
See All Agents

Map

Source: San Diego MLS

MLS Number: 200022551

San Diego MLS

APN: 447-252-24-00

California San Diego County San Diego 92104 Corridor

4242 37th St, San Diego, CA

Not Listed for Sale

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