San Diego, CA 92102,3560-62 Island Ave
San Diego, CA 92102,3560-62 Island Ave
San Diego, CA 92102,3560-62 Island Ave
San Diego, CA 92102,3560-62 Island Ave
San Diego, CA 92102,3560-62 Island Ave
San Diego, CA 92102,3560-62 Island Ave
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$1,100,000

$1,199,000

8.3%
Est.Price: ?

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Est. payment /mo

5 Beds

3 Baths

950 SqFt


SOLD DATE : 08/09/2024

Key Details

Sold Price $1,100,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

Square Footage 950 sqft

Price per Sqft $1,157

Subdivision San Diego

MLS Listing ID 240013035

Sold Date 08/09/24

Bedrooms 5

Full Baths 3

HOA Y/N No

Year Built 1980

Lot Size 7,200 Sqft

Property Description

3560-62 Island Ave is a turnkey 2-unit property in San Diego, situated on an over 7,000 square foot lot, comprising a highly updated 3-bedroom, 2-bathroom unit and a 2-bedroom, 1-bathroom unit, each with their own private yard, generating $6490/month. The flooring, plumbing, electrical, appliances, and the roof have been completely replaced throughout the property, totaling close to 200k of updates in the last couple of years. With a prime location in San Diego, this investment offers steady rental income potential, with Complete Communities zoning, allowing for a Floor Area Ratio of 6.5, presenting exciting opportunities for future development or expansion. This turnkey investment promises long-term appreciation in San Diego's strong rental market, making it an attractive opportunity for investors seeking a well-maintained multi-unit property with development potential on a large lot.

Location

State CA

County San Diego

Community San Diego

Area San Diego (92102)

Building/Complex Name Mt Hope

Interior

Heating Electric

Cooling Central Forced Air

Appliance Forced Air Unit

Exterior

Exterior Feature Wood/Stucco

Fence Gate

View City

Roof Type Composition

Building

Story 1

Lot Size Range 4000-7499 SF

Level or Stories 1 Story

Others

Acceptable Financing Cash, Exchange, FHA, VA

Space Rent $3,390

Listing Terms Cash, Exchange, FHA, VA

Financing Conventional

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San Diego Regional MLS (SDMLS)
Listed by Daniel A Sipher • JLM Real Estate Inc.
Bought with Daniel A Sipher • JLM Real Estate Inc.
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1615 Murray Canyon Rd Suite 110, Diego, California, 92108, United States

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