NOT LISTED FOR SALE

Estimated Value: $1,809,088 - $4,306,000

6 Beds
4 Baths
2,272 Sq Ft
$1,125/Sq Ft Est. Value

Last Sold October 04, 2013

Last sale price $1,800,000 $792 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $13,935/month

35 Days on Market

Highlights

  • Ocean View
  • Corner Lot
  • Wood Siding
  • Pacific Beach Elementary School Rated A-
  • Partially Fenced Property
  • West of 5 Freeway

About This Home

As of October 2013

This Ocean View 6Br/4Ba, with parking for 6, is the THIRD LARGEST vacation rental in Mission Beach (sleeps 18-24)!!! EITHER, choose to continue to collect $140k per year rents (OR) BUILD YOUR DREAM HOME on this RARE DOUBLE LOT, 50 steps from the sand on a quaint walking court in a quiet neighborhood of Mission Beach. 714-716 are connected on the 2nd floor kitchen level. Vacation Rental By Owner website #327321. FOR BUYERS LOOKING TO BUILD, collect income during architecture/permitting! The property is only 50 steps to the beach. As one of the largest Home or Vacation Rental in Mission Beach, 714-716 Whiting can sleep up to 24 guests and has parking for 6 cars. This is a high demand property for Extended Family Vacations or Family Reunions, and rents solid from September thru May as a 9 month rental. This property is sold fully furnished with everything needed for Vacation Rentals, including websites. This property gets many bookings from the Vacation Rentals by Owner website (property ID #327321) and has many Five Star Reviews posted. This is a turnkey Vacation Rental Business for the right Buyer. Per Sellers records, 714 & 716 Whiting have produced $130,543 in Gross Rents in the last 12 months, and is projected to bring in $141,500 in the next 12 months.

Last Agent to Sell the Property

Don Hawthorne

Shore Point Real Estate License #00523473 Listed on: 07/26/2013

Co-Listed By

Greg Flaherty

Penny Realty License #01073434

Last Buyer's Agent

Daniel Cota

Mission Beach Realty License #01033784

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,335

Year Built

  • Built in 1980

Lot Details

  • 2,500 Sq Ft Lot
  • Partially Fenced Property
  • Corner Lot
  • Level Lot
  • Sprinkler System

Parking

  • Alley Access

Home Design

  • Composition Roof
  • Wood Siding
  • Stone Exterior Construction

Interior Spaces

  • 3-Story Property
  • Ocean Views

Location

  • West of 5 Freeway

Schools

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

Utilities

  • Heating System Uses Natural Gas
  • Separate Water Meter
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas/propane
  • Assessor Parcel Number 423-551-19

Community Details

Overview

  • 2 Buildings
  • 2 Units

Pet Policy

  • No Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,335

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: Coastal South
  • Cross Street: Strandway
  • Neighborhood: NO MISSION
  • Supplement: The property is only 50 steps to the beach. As one of the largest Home or Vacation Rental in Mission Beach, 714-716 Whiting can sleep up to 24 guests and has parking for 6 cars. This is a high demand property for Extended Family Vacations or Family Reunions, and rents solid from September thru May as a 9 month rental. This property is sold fully furnished with everything needed for Vacation Rentals, including websites. This property gets many bookings from the Vacation Rentals by Owner website (property ID #327321) and has many Five Star Reviews posted. This is a turnkey Vacation Rental Business for the right Buyer. Per Sellers records, 714 & 716 Whiting have produced $130,543 in Gross Rents in the last 12 months, and is projected to bring in $141,500 in the next 12 months.
  • Stories: 3 Story
  • Sale Price List Price: 0.87
  • Total Stories: 3
  • Year Built: 1980
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Prkng Non Garage Spac U1: 1
  • Prkng Non Garage Spac U2: 1
  • School District Old: San Diego Unified
  • Walk Score Desc: Very Walkable
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Boat Facilities: No/Unknown
  • Exterior Material: Stone, Wood
  • Fencing: Partial
  • Roof: Composition
  • View: Ocean

Utilities

  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Telecommunications: Cable (coaxial)
  • Heat Equipment: Forced Air Unit

Condo/Co-op/Association

  • Pets Allowed: No Pets Allowed
  • Community: MISSION BEACH
  • Manager Name: Bill Luther
  • Manager Phone: 858-488-1450

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

  • Irrigation: Sprinklers
  • Lot Size: 1-3,999 SF
  • Site: Alley Access, Corner Lot, Public Street, Sidewalks, Street Paved, West of I-5
  • Topography: Level
  • Water District: CITY OF SAN DIEGO
  • Zoning: RN1 (BOTH)
  • Assessor Parcel Number: 423-551-19
  • Land Use Code: RN1
  • Estimated Lot Dimensions: 50X50
  • Estimated Lot Sq Ft: 2500
  • Water District URL: http://www.ci.san-diego.ca.us/water
  • Map Code Column: H
  • Map Code Page: 1247
  • Map Code Row: 7

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas/Propane

Multi Family

  • No. of Units: 2
  • Gross Rent Multiplier Actual: 15.32
  • Gross Rent Multiplier Projected: 14.13
  • Gross Sched Income Actual: 130543
  • Gross Sched Income Projected: 141500
  • Number Of Buildings: 2
  • Number Of Furnished Units: 2
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 2
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 2
  • Number Of Units With Refrigerator: 2
  • Number Of Units With Washers: 2

Tax Info

  • Assessor Parcel Number: 714-716(2LOTS-19&-18)Whiting92109

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 14, 2014
Sold by
Levine Ciara Michele
Bought by
Levine Barry S
Current Estimated Value
$2,342,258

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$540,000
Outstanding Balance
$411,004
Interest Rate
4.45%
Mortgage Type
New Conventional
Estimated Equity
$1,909,857

Purchase Details

Closed on
Jan 13, 2014
Sold by
Levine Barry S
Bought by
Buddha Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$540,000
Outstanding Balance
$411,004
Interest Rate
4.45%
Mortgage Type
New Conventional
Estimated Equity
$1,909,857

Purchase Details

Listed on
Jul 26, 2013
Closed on
Sep 26, 2013
Sold by
Petersen Hans A and Fletcher Bonnie M
Bought by
Buddha Llc
Seller's Agent
Don Hawthorne
Shore Point Real Estate
Buyer's Agent
Daniel Cota
Mission Beach Realty
List Price
$2,095,000
Sold Price
$1,800,000
Premium/Discount to List
-$295,000
-14.08%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.16%

Purchase Details

Closed on
Sep 7, 2010
Sold by
Ocean Loan 1 Lp
Bought by
Petersen Hans A and Fletcher Bonnie M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$520,000
Interest Rate
4.26%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 23, 2010
Sold by
Jones John D
Bought by
Ocean Loan I Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$520,000
Interest Rate
4.26%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 19, 2007
Sold by
Jones Loretta
Bought by
Jones John D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
6.17%
Mortgage Type
Unknown

Purchase Details

Closed on
Dec 30, 1999
Sold by
Jones John D Tr
Bought by
Jones John D and Jones Loretta L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$297,500
Interest Rate
10.2%
Source: Public Records

Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Levine Barry S -- Chicago Title Company
Buddha Llc -- Chicago Title Company
Levine Barry S -- Chicago Title Company
Buddha Llc $1,800,000 Chicago Title Company
Petersen Hans A $650,000 Stewart Title
Ocean Loan I Lp $521,000 Accommodation
Jones John D -- Commonwealth Land Title Co
Jones John D -- Commonwealth Land Title Co
Jones John D -- American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Levine Barry S $540,000
Closed Levine Barry S $540,000
Previous Owner Petersen Hans A $520,000
Previous Owner Jones John D $50,000
Previous Owner Jones John D $200,000
Previous Owner Jones John D $650,000
Previous Owner Jones John D $509,500
Previous Owner Jones John D $200,000
Previous Owner Jones John D $400,000
Previous Owner Jones John D $297,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/04/2013 10/04/13 Sold $1,800,000 -14.1% $792 / Sq Ft
08/30/2013 08/30/13 Pending -- -- --
07/26/2013 07/26/13 For Sale $2,095,000 -- $922 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

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 $13,335 $1,103,266 $980,685 $122,581
2024 $13,335 $1,081,634 $961,456 $120,178
2023 $13,040 $1,060,426 $942,604 $117,822
2022 $12,692 $1,039,634 $924,122 $115,512
2021 $12,605 $1,019,250 $906,002 $113,248
2020 $12,451 $1,008,800 $896,713 $112,087
2019 $12,229 $989,021 $879,131 $109,890
2018 $11,433 $969,630 $861,894 $107,736
2017 $11,170 $950,619 $844,995 $105,624
2016 $10,993 $931,980 $828,427 $103,553
2015 $10,831 $917,982 $815,984 $101,998
2014 $10,656 $900,000 $800,000 $100,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 130039551

San Diego MLS

APN: 423-551-19