NOT LISTED FOR SALE
8 Beds
4 Baths
-- Sq Ft
7,841 Sq Ft Lot

Last Sold August 04, 2021

Last sale price $1,040,000

27 Days on Market

Highlights

  • Property Near a Canyon
  • Valley View
  • Partially Fenced Property

About This Home

As of August 2021

BACK ON MARKET! One of the lowest price per unit fourplexes in San Diego County. The property consists of Four spacious - 2bed/1baths averaging - $1,300 a month on a well maintained two story structure, 3 of the 4 tenants are Section 8. Built in 1980's, most of the units are in good condition with one needing light TLC. Recently inspected with no structural issues, roof, plumbing, electrical, foundation and recently cleared for Section 1 termite clearance. The 8,198 sq. ft lot includes four tandem size off-street parking spaces and four extra-large storage spaces that can be rented for additional income along with a back patio barbecue and common area for tenants and guests to enjoy. All leases are month to month, with minor interior upgrades and future rent stabilization this is above a 5.5% CAP. The property is located just south of Talmadge and El Cajon Blvd in City Heights. Tenants enjoy close proximity to places of employment, entertainment, city transportation and recreation. The area has seen considerable improvement over the past decade and will continue to reap the benefits of development and gentrification. This is a great investment for any multi-family investor.

Last Agent to Sell the Property

Cameron Ebrahimi

Bridgepoint Realty Inc License #01820290 Listed on: 06/03/2021

Last Buyer's Agent

James De Leon

Black Label Realty License #02142650

Black Label Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1980

Lot Details

  • 8,198 Sq Ft Lot
  • Property Near a Canyon
  • Partially Fenced Property

Interior Spaces

  • 2-Story Property
  • Valley Views

Schools

  • San Diego Unified School District Elementary And Middle School
  • San Diego Unified School District High School

Community Details

  • 4 Units
  • Net Operating Income $40,213

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 471-602-23-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1980

Lot Details

8,198 Sq Ft Lot

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Metro Uptown
  • Cross Street: Auburn
  • Neighborhood: City Heights
  • LP / Sq Ft: 17.98
  • Stories: 2 Story
  • Sale Price List Price: 0.95
  • Total Stories: 2
  • Year Built: 1980
  • Allow Comments Review: No
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 1
  • Prkng Non Garage Spac U2: 1
  • Prkng Non Garage Spac U3: 1
  • Prkng Non Garage Spac U4: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Fencing: Partial
  • Frontage: Canyon
  • View: Valley/Canyon

Condo/Co-op/Association

  • Community: CITY HEIGHTS

Schools

  • School District URL: https://www.sandiegounified.org/
  • Elementary School: San Diego Unified School District
  • Elementary School Website: https://www.sandiegounified.org/
  • High School: San Diego Unified School District
  • Middle School Url: https://www.sandiegounified.org/
  • Middle School: San Diego Unified School District

Lot Info

  • Lot Size: 7,500-10,889 SF
  • Zoning: R-3
  • Additional Property Use: ORMKS
  • Assessor Parcel Number: 471-602-23-00
  • Estimated Lot Sq Ft: 8198
  • Estimated Number of Acres: 0.18

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 40213
  • Gross Rent Multiplier Actual: 17.5
  • Gross Rent Multiplier Projected: 13.0
  • Number Of Buildings: 1
  • Number Of Units With Dishwashers: 4
  • Number Of Units With Dryers: 4
  • Number Of Units With Patios: 4
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Other Income Projected: 300.0
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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
08/04/2021 08/04/21 Sold $1,040,000 -5.5% --
07/01/2021 07/01/21 Pending -- -- --
06/03/2021 06/03/21 For Sale $1,100,000 -- --
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 $13,386 $1,107,900 $848,966 $258,934
2024 $13,386 $1,086,177 $832,320 $253,857
2023 $13,090 $1,064,880 $816,000 $248,880
2022 $12,741 $277,511 $86,116 $191,395
2021 $3,462 $277,511 $86,116 $191,395
2020 $3,420 $274,666 $85,233 $189,433
2019 $3,360 $269,281 $83,562 $185,719
2018 $3,142 $264,002 $81,924 $182,078
2017 $3,067 $258,826 $80,318 $178,508
2016 $3,015 $253,752 $78,744 $175,008
2015 $2,971 $249,942 $77,562 $172,380
2014 $2,926 $245,047 $76,043 $169,004
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 210015183

San Diego MLS
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