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2014-20 Irving Avenue

San Diego, CA 92113
  • $1,575,000
  • STATUS: ACTIVE
  • ON SITE: 84 Days
  • ID#: 210025378
UPDATED: 223 min ago
$1,575,000
  • 4
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1937
County:

School Ratings & Info

Description

Unique gated turn-key property with Opportunity Zone upside potential. One-of-a-kind in this area receiving almost $8K monthly rental income. Four (4) One-Bedroom cottages completely renovated with a bonus 5th unit studio (unpermitted). All five units include new kitchens, bathrooms and electric panels, double-paned vinyl windows, mini-split AC/heat units, private fenced-patios, stackable washer dryers and vinyl flooring. Three units have assigned off-street parking spaces. Property is located in Opportunity Zone (per US Dept of Treasury, investors who build get tax discounts after five or seven years and ultimately pay no taxes on capital gains after 10 years) and new zoning laws will allow garage to be permitted as ADU and/or removed to develop large back area with multiple garages and extra units. Studio has been renovated with mini-split A/C/Heat, full kitchen w/ stainless appliances, bath with tub, walk-in closet and stackable washer dryer. It is currently leased for $1,395 per month. Highly desirable rental location with close proximity to downtown, Trolley stop, Petco Stadium and military bases at 32nd Street Naval Station and Naval Base Coronado Island. Easily rents to military personnel at top dollar market rents. Lush landscaping (gardener maintained) with avocado, orange and fig trees. Succulents and other drought tolerant plants are included for low water consumption. Seller (50% of ownership) is also a California Licensed Broker - CalBRE #01888816.

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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/121152809
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2014-20 Irving Avenue San Diego, CA 92113

  • Price: $1,575,000
  • Status: ACTIVE
  • On Site: 84 Days
  • Updated: 223 min ago
  • ID#: 210025378
4
Beds
4
Baths
0
½ Baths
0.16
Acres
1937
Built
Neighborhood:
Logan Heights
County:
San Diego
Area:
Logan Heights (92113)
Property Description
Unique gated turn-key property with Opportunity Zone upside potential. One-of-a-kind in this area receiving almost $8K monthly rental income. Four (4) One-Bedroom cottages completely renovated with a bonus 5th unit studio (unpermitted). All five units include new kitchens, bathrooms and electric panels, double-paned vinyl windows, mini-split AC/heat units, private fenced-patios, stackable washer dryers and vinyl flooring. Three units have assigned off-street parking spaces. Property is located in Opportunity Zone (per US Dept of Treasury, investors who build get tax discounts after five or seven years and ultimately pay no taxes on capital gains after 10 years) and new zoning laws will allow garage to be permitted as ADU and/or removed to develop large back area with multiple garages and extra units. Studio has been renovated with mini-split A/C/Heat, full kitchen w/ stainless appliances, bath with tub, walk-in closet and stackable washer dryer. It is currently leased for $1,395 per month. Highly desirable rental location with close proximity to downtown, Trolley stop, Petco Stadium and military bases at 32nd Street Naval Station and Naval Base Coronado Island. Easily rents to military personnel at top dollar market rents. Lush landscaping (gardener maintained) with avocado, orange and fig trees. Succulents and other drought tolerant plants are included for low water consumption. Seller (50% of ownership) is also a California Licensed Broker - CalBRE #01888816.
Exterior Features

Exterior Wood/Stucco Fencing FullGate Irrigation AutomaticDripSprinklers Parking Non Garage Desc Unit1 AssignedUncovered Parking Non Garage Desc Unit2 AssignedUncovered Parking Non Garage Desc Unit3 AssignedUncovered Parking Non Garage Desc Unit4 None Known 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 Composition Site Alley Access Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard Yes Unit4 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 5 View City

Interior Features

Cooling Zoned Area(S) 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 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 5 Units With Dishwashers 0 Units With Dryers 5 Units With Fireplaces 0 Units With Range Oven 5 Units With Refrigerators 5 Units With Washers 5 Water Heater Type Gas

Property Features

Actual Cap Rate 4.8 Age Restrictions N/K Annual Expense Actual 15000 Association ID San Diego Association Of Realtors (Sdar) Buildings 3 Cfd Mello Roos Fee 0.0 Community Logan Heights Complex Features Gated Community Complex Park Chicano Park Cross Streets Dewey Street Near Cesar Chavez Gross Rent Multiplier Actual 16.6 Gross Scheduled Income Actual 92000 Gross Scheduled Income Project 96000 Home Owners Assoc Fee Includes Exterior (Landscaping)Exterior Bldg MaintenanceGated CommunityRoof MaintenanceSewerTermiteTrash PickupWater Mandatory Remarks None Known Market Area Metro Central Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Pets Allowed W/Restrictions Sales Restrictions N/K Security Gated Community Short Sale No Tenant Pays Cable TvElectricityGas/PropaneHot Water Terms CashConventionalExchange Unit Number For Unit1 2014Irving Unit Number For Unit2 2016Irving Unit Number For Unit3 2018Irving Unit Number4 2020Irving Unit1 Deposit 1300 Unit1 Occupied Tenant Unit1 Projected Rent 1850.0 Unit1 Rent Actual 1700.0 Unit2 Deposit 1300 Unit2 Occupied Tenant Unit2 Projected Rent 1850.0 Unit2 Rent Actual 1700.0 Unit3 Deposit 1200 Unit3 Occupied Tenant Unit3 Projected Rent 1700 Unit3 Rent Actual 1500.0 Unit4 Deposit 1050 Unit4 Occupied Tenant Unit4 Projected Rent 1700 Unit4 Rent Actual 1500.0 Vacation Rental By Owner No Water Meter On Property Water District City Of San Diego Zoning R-4;Multi

Listing provided courtesy of Christopher Cacioppo, Broker. 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