$1,100,000
$1,199,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
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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Bought with Daniel A Sipher • JLM Real Estate Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
1615 Murray Canyon Rd Suite 110, Diego, California, 92108, United States