M
Seller's Agent in 2024
Monica Getz
Gemstone Real Estate
4502 40th St San Diego, CA 92116
Normal Heights Neighborhood
10
Beds
10
Baths
5,040
Sq Ft
5,000
Sq Ft Lot Lot
About This Home
As of November 20244502 40th St. is turn-key 6-unit apartment building located in the vibrant Normal Heights neighborhood. The buyer can assume the existing 3.76% Chase Loan which is interest + principle. The loan adjusts on Feb. 1, 2029. This is a 30-year loan that matures Feb. 1, 2052 with a ceiling of 9.5% and a floor of 2.5% All 6 units are remodeled. There is a new roof with a 10-year warranty, which was installed in May 2024 ($30,000 value). This investment property has a history of 100% occupancy, and the apartment is filled with excellent residents who all pay their rents on-time and all residents are current on their rental payments. 2 units are 1/1 and 4 units are 2/2. All units have been renovated with new kitchens, bathrooms with tiled walk-in showers, wood-like vinyl floors, etc. The latest remodel took place in 2024. Newer replacement windows throughout the building. Other capital expenditures include: upgraded, new sewer pipe from the building to the city sewer main. The property has an onsite laundry room that produces additional income. There is also an owner's storage room. The property has been professionally landscaped, and is easy to maintain. This attractive 5,040 sq. ft. building has seven-plus, off-street parking spaces, many of which can fit more than one car. The location is an easy walk to downtown Kensington, as well as downtown Normal Heights.
Last Agent to Sell the Property
Monica Getz
Gemstone Real Estate License #02062776 Listed on: 09/08/2024
Property Details
Home Type
- Apartment
Lot Details
- 5,000 Sq Ft Lot
- Landscaped
Interior Spaces
- 10 Bedrooms
- 5,040 Sq Ft Home
- 2-Story Property
Parking
- 7 Parking Spaces
- Parking Available
Utilities
- Radiant Heating System
- Heating System Mounted To A Wall or Window
Listing and Financial Details
- Total Actual Rent $13,950
Community Details
Overview
- 6 Units
Building Details
- 6 Leased Units
- Operating Expense $56,334
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/04/2024 11/04/24 | Sold | $2,125,000 | -9.0% | $422 / Sq Ft |
| 09/19/2024 09/19/24 | Pending | -- | -- | -- |
| 09/09/2024 09/09/24 | For Sale | $2,336,000 | -- | $463 / Sq Ft |
Source: San Diego MLS
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 | $26,641 | $1,809,143 | $625,804 | $1,183,339 |
| 2024 | $22,267 | $1,809,143 | $625,804 | $1,183,339 |
| 2023 | $21,775 | $1,773,671 | $613,534 | $1,160,137 |
| 2022 | $21,196 | $1,738,894 | $601,504 | $1,137,390 |
| 2021 | $21,051 | $1,704,799 | $589,710 | $1,115,089 |
| 2020 | $20,796 | $1,687,320 | $583,664 | $1,103,656 |
| 2019 | $20,425 | $1,654,236 | $572,220 | $1,082,016 |
| 2018 | $19,093 | $1,621,800 | $561,000 | $1,060,800 |
| 2017 | $18,639 | $1,590,000 | $550,000 | $1,040,000 |
| 2016 | $13,541 | $1,150,000 | $400,000 | $750,000 |
| 2015 | $4,322 | $364,841 | $175,826 | $189,015 |
| 2014 | -- | $357,695 | $172,382 | $185,313 |
Source: Public Records
Agents Affiliated with this Home
-
-
Krista Losito
Buyer's Agent in 2024
Krista Losito
KB Investments
(858) 243-6570
4 in this area
21 Total Sales
Map
Source: San Diego MLS
MLS Number: 240021335
APN: 447-062-15-00
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