Illinois San Diego, CA 92116
Active
$2,199,000
3 Units
7 Beds
3 Baths
n/a Area(sq.ft.)
n/a Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | $ 2,880 | $ 2,880 | $ 3,000 | |
| Unit 2 | 1 | 2 | 1 | $ 2,690 | $ 2,690 | $ 3,000 | |
| Unit 3 | 1 | 3 | 1 | $ 3,875 | $ 3,875 | $ 4,000 | |
| 3 | 3 | 7 | 3 | $ 9,445 | $ 9,445 | $ 10,000 |
| MLS #: | 240014482SD |
| Days On Market: | 163 |
| County: | San Diego |
| Property Type: | Residential Income |
| Price per unit: | $ 733,000 |
| Year Built: | 1940 |
Property Details
A developers dream! Multiple value add opportunities and strong existing income ($9,445 monthly gross income)! This site presents an increasingly rare urban infill opportunity to purchase a 7,018 SF lot, with (3) income generating residential units in the heart of San Diego's hippest neighborhood, North Park. This property sits within the complete communities area and has a FAR of 6.5. The maximum buildable square feet is 45,617 subject to official approval to allow a complete communities project at this site. Alternatively and due to being fully remodeled, the existing units attract phenomenal renters in the asset's existing condition. The property is gated from the alley and tenants have the option to close the gate on Illinois for additional privacy. It is turfed with pavers throughout and laundry on site in the back.Interested in this Listing?
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Income Details
| Total Annual Expense: | $ 38,948 |
| Net Operating Income: | $ 72,156 |
| Cap Rate: | 3.3% |
| Gross Rent Multiplier: | 19.20 |
Structure
| Amenities: | Laundry Facilities |
| Levels: | Two |
| Complex Name: | NA |
| Security Features: | None |
Land & Parking
| Zoning: | RM 3-8 |
Interior
| AC/Cooling: | Wall/Window |
| Heating: | Electric, Wall |
Exterior
| Pool: | True |
| Pool Description: | Private |
| Roof: | Composition |
| Spa: | No |
Detailed Map
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