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Key Details
Sold Price $1,650,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,100 sqft
Price per Sqft $785
MLS Listing ID PTP2401263
Sold Date 06/03/24
Bedrooms 5
Full Baths 4
HOA Y/N No
Year Built 1939
Lot Size 5,619 Sqft
Acres 0.129
Property Description
Price reduced! Charming, renovated 1939 triplex perfect for owner-occupant. Downtown/Bay views. Extremely well-located at the junction of highly desirable Middletown, Mission Hills, and Bankers Hill. Tenant occupied, but possibility for owner-occupant - call for details. 2 structures. 5,621 SF corner parcel. Front is a 2bed/2bath turnkey house est. @ 1,100 SF w/ private side covered porch with exclusive Downtown and bay views. Interior has been tastefully renovated - all new kitchen/baths, lighting, flooring, paint, SS appliances, cabinets. Rented to long-term tenant at $4.5K/month. Rear 2-story duplex w/ (2) 1bed/1bath units, est. @ 500 SF each, rented to month-month tenants. These units have been recently refreshed but are primed for further upgrades + rent upside. Tenants enjoy private fenced front/side yard areas for additional outdoor relaxation/BBQ space. Newer windows, electrical upgrades, newer mini-split HVAC systems, and exterior landscaping upgrades with new fencing, paint, and drought-tolerant plants. 2 carports offering at least 3 off-street parking spaces and a common-area laundry room for additional income. All units have some views of either Downtown, the Bay or both. Zoned RM-2-5; base density of 1 unit/1,500 SF of land. Complete Communities (Tier 3/6.5x FAR) and Transit Priority Area Overlay zones, both of which lend significant density bonus potential and reduced parking requirements in this prized, coastal location. Fantastic long-term opportunities for investors and developers to explore significant high-density development options. Seller has confirmed any preexisting historical restrictions can be waived; airport authority will allow up to 60’ max. new bldg. height, and has also completed a preliminary architect feasibility study for development of 20-40 multifamily units. Don’t miss this fantastic opportunity to acquire a value-add coastal asset with healthy current income and development potential in one of San Diego’s most desirable residential submarkets!
Location
State CA
County San Diego
Area 92103 - Mission Hills
Zoning RM-2-5, Complete Communit
Rooms
Main Level Bedrooms 4
Ensuite Laundry Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Interior
Interior Features Bedroom on Main Level
Laundry Location Common Area,Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup
Cooling Ductless
Fireplaces Type None
Fireplace No
Appliance Dryer, Washer
Laundry Common Area, Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Carport Spaces 3
Pool None
Community Features Biking, Curbs, Dog Park, Street Lights, Sidewalks, Urban, Water Sports, Park
Utilities Available Overhead Utilities
View Y/N Yes
View Bay, City Lights, Coastline, Neighborhood, Water
Total Parking Spaces 3
Private Pool No
Building
Lot Description Back Yard, Corner Lot, Front Yard, Garden, Landscaped, Level, Near Park, Near Public Transit, Paved, Street Level, Value In Land, Yard
Story 2
Entry Level Two
Sewer Public Sewer
Level or Stories Two
Schools
School District San Diego Unified
Others
Senior Community No
Tax ID 5330550100
Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, Fannie Mae, Trust Deed, VA Loan
Listing Terms Cash, Cash to New Loan, Conventional, FHA, Fannie Mae, Trust Deed, VA Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Santiago Orvananos • Casa Advisors
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