$1,820,000
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7,008 Sqft Lot
SOLD DATE : 07/09/2024
Key Details
Sold Price $1,820,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision University Heights
MLS Listing ID 240009900SD
Sold Date 07/09/24
HOA Y/N No
Year Built 1942
Lot Size 7,008 Sqft
Property Description
This is it! You know everyone's looking for this, and it's SO hard to find TRUE (and Legal) 4-Plexes priced at and based on their ACTUAL financials. Don't miss out because this property checks all of the boxes for so many different investors. Located in the highly desirable University Heights sub-market, opportunities like this don't come up often. Property has excellent long term tenant history. The property is laid out smartly for an owner user to occupy the front home and take in excellent rental income to offset a mortgage with the rear triplex. Spanish architecture offers a touch of emotional appeal, which blends brilliantly into the surrounding neighborhood. Property is located within a couple short blocks of two major transportation corridors amplifying the tenant attraction. Add to that an endless number of walkable shops, cafes, restaurants and miscellaneous services such as gyms, auto shops, fast food, and churches and you have the ideal rental. Excellent for 1st time investor, or just add another fantastic asset to your portfolio. See supplement... Attention Developers! This is an ideal pick up for current or future apartment building. With both alley and street access, it definitely makes construction easier. The 7000sf lot sits in the Complete Communities zoning overlay. Excellent current zoning of RM2-5 offers extremely advantageous options to limit the income restricted units to 2 or possibly 3 at the most. With a 6.5 FAR, the sky's the limit. ***All information is provided for convenience only and not intended to be relied upon. All buyers must confirm all zoning and regulations for themselves prior to removal of all contingencies.***
Location
State CA
County San Diego
Area 92116 - Normal Heights
Building/Complex Name NA
Zoning R-3: RM
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
Pool None
View Y/N Yes
View None
Roof Type Composition
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4461010500
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Financing VA
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Bought with Lane Blake • eXp Realty of California, Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
25101 The Old Road Suite 240, Ranch, Ca, 91381, United States