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    1060 Scott St

    San Diego, CA 92106
    • $3,900,000
    • STATUS: ACTIVE
    • ON SITE: 37 days
    • ID#: 210022689
    UPDATED: 25 min ago
    $3,900,000
    • 15
      BEDS
    • 0.12
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    • 6,000
      SQFT
    • $650
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2002
    County:

    School Ratings & Info

    Description

    LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own an 4 Unit complex income property in the prime location of Point Loma Village. A few blocks from the Bay, this property is exactly what you were looking for. With its current condition, the building is brining $16,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. Built in 2002, this complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 3 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 unit are 2 bedroom 2.5 bath with extra bonus room (potential 3 bed). There are 23 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Point Loma, a block to the Bay from Shelter Island Drive. Minutes from San Diego Yacht Club, and Lucy Evans Memorial Garden. You are in the middle of Point Loma Village, next to Liberty Station, Silver Gate Yacht Club and 100s of restaurants and shops around. The other 4 Units in the complex is also for sale

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/120268408
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    1060 Scott St San Diego, CA 92106

    • Price: $3,900,000
    • Status: ACTIVE
    • Updated: 25 min ago
    • ID#: 210022689
    15
    Beds
    8
    Baths
    0
    ½ Baths
    0.12
    Acres
    6,000
    SQFT
    $650
    $/SQFT
    2002
    Built
    Neighborhood:
    Point Loma Village
    County:
    San Diego
    Area:
    Point Loma (92106)
    Property Description
    LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own an 4 Unit complex income property in the prime location of Point Loma Village. A few blocks from the Bay, this property is exactly what you were looking for. With its current condition, the building is brining $16,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. Built in 2002, this complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 3 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 unit are 2 bedroom 2.5 bath with extra bonus room (potential 3 bed). There are 23 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Point Loma, a block to the Bay from Shelter Island Drive. Minutes from San Diego Yacht Club, and Lucy Evans Memorial Garden. You are in the middle of Point Loma Village, next to Liberty Station, Silver Gate Yacht Club and 100s of restaurants and shops around. The other 4 Units in the complex is also for sale
    Exterior Features

    Exterior Other/Remarks Fencing N/K Frontage Bay Parking Garage Desc Unit1 Attached Parking Garage Desc Unit2 Attached Parking Garage Desc Unit3 Attached Parking Garage Desc Unit4 Attached Parking Garage Spaces Unit1 3 Parking Garage Spaces Unit2 3 Parking Garage Spaces Unit3 3 Parking Garage Spaces Unit4 2 Roof Other/Remarks Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 4 Units With Patios 4

    Interior Features

    Cooling N/K Furnished Units 0 Half Baths Unit1 1 Half Baths Unit2 1 Half Baths Unit3 1 Half Baths Unit4 1 Heat Equipment Other/Remarks Heat Source Natural Gas Stories 2 Story Total Baths Unit1 3 Total Baths Unit2 3 Total Baths Unit3 3 Total Baths Unit4 3 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 0 Units With Dishwashers 4 Units With Dryers 4 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 4

    Property Features

    Actual Cap Rate 3.5 Age Restrictions N/K Annual Expense Actual 2000 Association ID San Diego Association Of Realtors (Sdar) Buildings 1 Cfd Mello Roos Fee 0.0 Community Point Loma Complex Features Other/Remarks Complex Park Point Loma Village Cross Streets Scott St & Upshur St Gross Rent Multiplier Actual 19.27 Gross Rent Multiplier Project 9.6 Gross Scheduled Income Actual 192000 Gross Scheduled Income Project 385000 Home Owners Assoc Fee Includes N/K Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Coastal South Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Pets Yes Projected Cap Rate 7.0 Sales Restrictions N/K Security Other/Remarks Short Sale No Tenant Pays ElectricityGas/Propane Terms CashConventionalOther/Remarks Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Projected Rent 8000.0 Unit1 Rent Actual 4000.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 8000.0 Unit2 Rent Actual 4000.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Projected Rent 8000 Unit3 Rent Actual 4000.0 Unit4 Deposit 0 Unit4 Occupied Tenant Unit4 Projected Rent 8000 Unit4 Rent Actual 4000.0 Water District City Of San Diego Zoning R3 & R4

    Listing provided courtesy of Txr Homes. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101