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1602-1608 Meade Avenue

San Diego, CA 92116
  • $1,495,000
  • STATUS: ACTIVE
  • ON SITE: 67 Days
  • ID#: 220024816
UPDATED: 23 min ago
$1,495,000
  • 5
    BEDS
  • 0.11
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 1,802
    SQFT
  • $830
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1910
County:

School Ratings & Info

Description

UNIVERSITY HEIGHTS across the street from Birney Elementary! Just west of popular Park Blvd, this 4 unit, corner lot property with 2 single car garages is just blocks from Trolley Barn Park & Uptown District in Hillcrest! Sited in two front/back unit setups, the west structure's elevated front porch & high ceilings may conjure images of a San Francisco rowhome. MULTIPLE opportunities to explore for this GEM: KEEP as it is with 3 out of the 4 UNITS Market Rate Rent Ready!! LIVE in one (or combine two) & rent out others for helper income OR EARN income while you make plans for the potential development opportunity afforded by the Complete Communities & Transit Priority overlay zones as described in the attached cursory Development Summary provided by Architects Local. 1st time on market in 30+ years with many improvements made!! See Supplement!! Each unit has its own identity and have the potential for their own semi-private outdoor spaces. A few of the units retain elements of their original charm, character and architectural details - maple or Douglas Fir wood flooring, rounded door mouldings, picture rails & glass door knobs. In the San Diego Metro neighborhoods it is easy to envision its long term prospects - increased redevelopment and higher density mean land values will inevitably rise over the long haul. With 4 units today and multiple opportunities to explore, isn't it nice to have options?!? Carpe diem!

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/133540876
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1602-1608 Meade Avenue San Diego, CA 92116

  • Price: $1,495,000
  • Status: ACTIVE
  • On Site: 67 Days
  • Updated: 23 min ago
  • ID#: 220024816
5
Beds
4
Baths
0
½ Baths
0.11
Acres
1,802
SQFT
$830
$/SQFT
1910
Built
Neighborhood:
University Heights
County:
San Diego
Area:
Normal Heights (92116)
Property Description
UNIVERSITY HEIGHTS across the street from Birney Elementary! Just west of popular Park Blvd, this 4 unit, corner lot property with 2 single car garages is just blocks from Trolley Barn Park & Uptown District in Hillcrest! Sited in two front/back unit setups, the west structure's elevated front porch & high ceilings may conjure images of a San Francisco rowhome. MULTIPLE opportunities to explore for this GEM: KEEP as it is with 3 out of the 4 UNITS Market Rate Rent Ready!! LIVE in one (or combine two) & rent out others for helper income OR EARN income while you make plans for the potential development opportunity afforded by the Complete Communities & Transit Priority overlay zones as described in the attached cursory Development Summary provided by Architects Local. 1st time on market in 30+ years with many improvements made!! See Supplement!! Each unit has its own identity and have the potential for their own semi-private outdoor spaces. A few of the units retain elements of their original charm, character and architectural details - maple or Douglas Fir wood flooring, rounded door mouldings, picture rails & glass door knobs. In the San Diego Metro neighborhoods it is easy to envision its long term prospects - increased redevelopment and higher density mean land values will inevitably rise over the long haul. With 4 units today and multiple opportunities to explore, isn't it nice to have options?!? Carpe diem!
Exterior Features

Exterior Wood Fencing PartialN/K Parking Garage Spaces Unit1 0 Parking Garage Spaces Unit2 0 Parking Garage Spaces Unit3 0 Parking Garage Spaces Unit4 0 Parking Spaces Total Unit1 0.0 Parking Spaces Total Unit2 0.0 Parking Spaces Total Unit3 0.0 Parking Spaces Total Unit4 0.0 Roof CompositionRolled/Hot Mop Site Corner LotCurbsPublic StreetSidewalksStreet Paved Topography Level Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard Yes Units With Garages 2 Units With Patios 2

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 Wall/Gravity Heat Source Natural Gas Stories Other/Remarks Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 1 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 3 Units With Washers 1 Water Heater Type Gas

Property Features

Actual Cap Rate 2.79 Age Restrictions N/K Annual Expense Actual 23940 Annual Expense Projected 32760 Association ID San Diego Association Of Realtors (Sdar) Buildings 2 Cfd Mello Roos Fee 0.0 Community University Heights Complex Park -- Cross Streets Campus Avenue Gross Rent Multiplier Actual 23.32 Gross Rent Multiplier Project 17.04 Gross Scheduled Income Actual 68400 Gross Scheduled Income Project 93600 Home Owners Assoc Fee Includes N/K Jurisdiction Incorporated Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Net Operating Income Projected 60840 Other Fees 0.0 Other Income Actual 3600 Projected Cap Rate 3.81 Projected Other Income 3600.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Tenant Pays WaterElectricityGas/PropaneOther/Remarks Terms CashConventionalExchange Unit Number For Unit1 1602 Unit Number For Unit2 1604 Unit Number For Unit3 1606 Unit Number4 1608 Unit1 Deposit 0 Unit1 Occupied Vacant Unit1 Projected Rent 2100.0 Unit1 Rent Actual 0.0 Unit2 Deposit 850 Unit2 Occupied Tenant Unit2 Projected Rent 2175.0 Unit2 Rent Actual 1300.0 Unit3 Deposit 0 Unit3 Occupied Vacant Unit3 Projected Rent 2300 Unit3 Rent Actual 0.0 Unit4 Deposit 0 Unit4 Occupied Vacant Unit4 Projected Rent 1950 Unit4 Rent Actual 0.0 Water Meter On Property

San Diego MLS logo Listing provided courtesy of Coldwell Banker West: [IDXCONTACTINFORMATION]. Listing information © 2022 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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516 5th Avenue
San Diego CA, 92101