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1268-74 Locust St

San Diego, CA 92106
  • $3,397,000
  • STATUS: ACTIVE
  • ON SITE: 304 Days
  • ID#: 230022316
$3,397,000
  • 8
    BEDS
  • 0.12
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 4,220
    SQFT
  • $805
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1992
County:

Description

A rare opportunity to own an amazing multifamily investment property in beautiful Point Loma, one of the most sought-after areas in San Diego. This never-before-listed gem, custom-built in 1992 on a corner lot, speaks to comfort and functionality. Each of the four units consist of two bedrooms and two full bathrooms, with one of the bathrooms being a primary en suite. Residents will enjoy the convenience of an indoor washer and dryer, a cozy gas fireplace, a wet bar, a private balcony, ample closet space throughout, and an abundance of natural light streaming through the expansive windows and skylights. They are all a generous 1,055 square feet and the top two units have vaulted ceilings which provide an even more spacious feel. An ideal and invaluable feature of this property is its gated subterranean garage with a parking spot and additional storage closet for each unit. The property’s driveway also allows for tandem parking and leads to a small communal area featuring a brick BBQ. An added perk? Each of the four units is equipped with its own water meter, ensuring autonomy and efficiency. Located just blocks from tranquil Shelter Island and only minutes from an array of shopping, dining, schools, and local attractions, this property offers a unique chance to own a prime piece of real estate in one of San Diego’s highly desirable locales. Don’t let it pass you by! A rare opportunity to own an amazing multifamily investment property in beautiful Point Loma, one of the most sought-after areas in San Diego. This never-before-listed gem, custom-built in 1992 on a corner lot, speaks to comfort and functionality. Each of the four units consist of two bedrooms and two full bathrooms, with one of the bathrooms being a primary en suite. Residents will enjoy the convenience of an indoor washer and dryer, a cozy gas fireplace, a wet bar, a private balcony, ample closet space throughout, and an abundance of natural light streaming through the expansive windows and skylights. They are all a generous 1,055 square feet and the top two units have vaulted ceilings which provide an even more spacious feel. An ideal and invaluable feature of this property is its gated subterranean garage with a parking spot and additional storage closet for each unit. The property’s driveway also allows for tandem parking and leads to a small communal area featuring a brick BBQ. An added perk? Each of the four units is equipped with its own water meter, ensuring autonomy and efficiency. Located just blocks from tranquil Shelter Island and only minutes from an array of shopping, dining, schools, and local attractions, this property offers a unique chance to own a prime piece of real estate in one of San Diego’s highly desirable locales. Don’t let it pass you by!

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San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/145220045
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1268-74 Locust St San Diego, CA 92106

  • Price: $3,397,000
  • Status: ACTIVE
  • On Site: 304 Days
  • ID#: 230022316
8
Beds
8
Baths
0
½ Baths
0.12
Acres
4,220
SQFT
$805
$/SQFT
1992
Built
Neighborhood:
Roseville
County:
San Diego
Area:
Point Loma (92106)
Elementary School:
San Diego Unified School District
Middle School:
San Diego Unified School District
High School:
San Diego Unified School District
Property Description
A rare opportunity to own an amazing multifamily investment property in beautiful Point Loma, one of the most sought-after areas in San Diego. This never-before-listed gem, custom-built in 1992 on a corner lot, speaks to comfort and functionality. Each of the four units consist of two bedrooms and two full bathrooms, with one of the bathrooms being a primary en suite. Residents will enjoy the convenience of an indoor washer and dryer, a cozy gas fireplace, a wet bar, a private balcony, ample closet space throughout, and an abundance of natural light streaming through the expansive windows and skylights. They are all a generous 1,055 square feet and the top two units have vaulted ceilings which provide an even more spacious feel. An ideal and invaluable feature of this property is its gated subterranean garage with a parking spot and additional storage closet for each unit. The property’s driveway also allows for tandem parking and leads to a small communal area featuring a brick BBQ. An added perk? Each of the four units is equipped with its own water meter, ensuring autonomy and efficiency. Located just blocks from tranquil Shelter Island and only minutes from an array of shopping, dining, schools, and local attractions, this property offers a unique chance to own a prime piece of real estate in one of San Diego’s highly desirable locales. Don’t let it pass you by! A rare opportunity to own an amazing multifamily investment property in beautiful Point Loma, one of the most sought-after areas in San Diego. This never-before-listed gem, custom-built in 1992 on a corner lot, speaks to comfort and functionality. Each of the four units consist of two bedrooms and two full bathrooms, with one of the bathrooms being a primary en suite. Residents will enjoy the convenience of an indoor washer and dryer, a cozy gas fireplace, a wet bar, a private balcony, ample closet space throughout, and an abundance of natural light streaming through the expansive windows and skylights. They are all a generous 1,055 square feet and the top two units have vaulted ceilings which provide an even more spacious feel. An ideal and invaluable feature of this property is its gated subterranean garage with a parking spot and additional storage closet for each unit. The property’s driveway also allows for tandem parking and leads to a small communal area featuring a brick BBQ. An added perk? Each of the four units is equipped with its own water meter, ensuring autonomy and efficiency. Located just blocks from tranquil Shelter Island and only minutes from an array of shopping, dining, schools, and local attractions, this property offers a unique chance to own a prime piece of real estate in one of San Diego’s highly desirable locales. Don’t let it pass you by!
Exterior Features

Exterior Wood/Stucco Fencing Partial Irrigation Sprinklers Parking Garage Desc Unit1 GatedUnderground Parking Garage Desc Unit2 GatedUnderground Parking Garage Desc Unit3 GatedUnderground Parking Garage Desc Unit4 GatedUnderground Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Parking Garage Spaces Unit3 1 Parking Garage Spaces Unit4 1 Parking Non Garage Desc Unit1 Tandem Parking Non Garage Desc Unit2 Tandem Parking Non Garage Desc Unit3 Tandem Parking Non Garage Desc Unit4 Tandem Parking Spaces Total Unit1 1.0 Parking Spaces Total Unit2 1.0 Parking Spaces Total Unit3 1.0 Parking Spaces Total Unit4 1.0 Pool N/K Roof Tile/Clay Site Corner LotWest of I-5 Spa N/K Topography Level Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 0 Units With Patios 4

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment FireplaceForced Air Unit Heat Source Natural Gas Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 2 Total Baths Unit4 2 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 3 Units With Fireplaces 4 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 3 Water Heater Type Gas

Property Features

Actual Cap Rate 3.19 Age Restrictions N/K Annual Expense Actual 10117 Annual Expense Projected 10000 Association ID San Diego Association of REALTORS (SDAR) Buildings 1 Cfd Mello Roos Fee 0.0 Community POINT LOMA Complex Features BBQ Complex Park N/A Cross Streets Dickens Street Gross Rent Multiplier Actual 29.08 Gross Rent Multiplier Project 20.81 Gross Scheduled Income Actual 9882 Gross Scheduled Income Project 13600 Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Coastal South Monthly Total Fees 0 Net Operating Income Projected 153200 Other Fees 0.0 Other Income Actual 0 Pets Yes Possession Close of Escrow Projected Cap Rate 4.5 Projected Other Income 0.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Telecommunications Cable (coaxial)Satellite Dish Tenant Pays SewerWaterCable TVElectricityHot Water Terms CashConventionalExchange Unit Number For Unit1 1268 Unit Number For Unit2 1270 Unit Number For Unit3 1272 Unit Number4 1274 Unit1 Deposit 2100 Unit1 Occupied Tenant Unit1 Projected Rent 3400.0 Unit1 Rent Actual 0.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 3400.0 Unit2 Rent Actual 2650.0 Unit3 Deposit 2100 Unit3 Occupied Tenant Unit3 Projected Rent 3400 Unit3 Rent Actual 2488.0 Unit4 Deposit 1500 Unit4 Occupied Tenant Unit4 Projected Rent 3400 Unit4 Rent Actual 2488.0 Vacation Rental By Owner No Water Meter on PropertyOther/Remarks Water District CITY OF SAN DIEGO Zoning R-4

San Diego MLS logo Listing provided courtesy of Karine Izidoro of Keller Williams San Diego Metro: 619-977-2324. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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