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2033 S 40Th St

San Diego, CA 92113
  • $804,900
  • STATUS: ACTIVE
  • ON SITE: 87 Days
  • ID#: 230023696
UPDATED: 60 min ago
$804,900
  • 4
    BEDS
  • 0.15
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 1,570
    SQFT
  • $513
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1940
County:

School Ratings & Info

Description

Update - Back on market due to sewer line inspection revealed damaged cast iron. Seller in process of replacing. Front house 2033 the tenants have moved out and back house 2031 the tenants are moving out end of March. Great opportunity to house your extended family on one large lot. Front house is a single level 3 bedroom, 2 bath with inside laundry, 3 year new kitchen-cabinets-appliances-countertops. Also 3 year new luxury vinyl flooring throughout. Parking for two vehicles on the property in front. Large front, side yard and backyards for the whole family to play in. Back standalone house is an adorable, 1 bedroom, 1 bath home with side and front yards and parking for 2 to 3 vehicles. This home is accessed through the alley and is separated from the front house with a gated fence. This cute house is in decent condition but could benefit from a full cosmetic remodel. Great location just a short 10-minute drive to downtown San Diego As a legal duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. SEE SUPPLEMENT... ...As a legal duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. Properties in this area don't come up very often and when they do they disappear quickly. Extremely strong rental area. Just two minutes from the 5 freeway and 8 minutes to downtown San Diego. Mature tree in front yard keeps the house really cool in the summer months. SUPPLEMENT: Owner purchased as an REO/Bank Foreclosure in 2009 so very little information was disclosed/available to buyer. Previous owner converted garget to living space permits unknown. Current owner added full bathroom to this garage bedroom. Entire front home is occupied by the same family. Much of the MLS information is estimated including but not limited to year bult and legality of garage conversion. Property is in a flood zone. Each home is insured separately $848 for 2033 and $463 for 2031 annually. NOTE: There have been no floods, even with all the rain we had early 2023 since owner purchased in 2009. Current zoning is RM 1-1 - Allows FAR of .75 - Lost size = 6140 sq ft x .75 = 4605 buildable square feet Front house 2033 is 1130 sq ft including the garage conversion Back house 2031 is 480 sq ft Total existing sq ft = 1610 4605 sq ft buildable – 1610 existing = 2995 sq ft left to build The .75 FAR allows for many ADU options. Contact agent for more information. Owner is a CA licensed real estate agent.

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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/145930143
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2033 S 40Th St San Diego, CA 92113

  • Price: $804,900
  • Status: ACTIVE
  • On Site: 87 Days
  • Updated: 60 min ago
  • ID#: 230023696
4
Beds
3
Baths
0
½ Baths
0.15
Acres
1,570
SQFT
$513
$/SQFT
1940
Built
Neighborhood:
Shelltown
County:
San Diego
Area:
Logan Heights (92113)
Property Description
Update - Back on market due to sewer line inspection revealed damaged cast iron. Seller in process of replacing. Front house 2033 the tenants have moved out and back house 2031 the tenants are moving out end of March. Great opportunity to house your extended family on one large lot. Front house is a single level 3 bedroom, 2 bath with inside laundry, 3 year new kitchen-cabinets-appliances-countertops. Also 3 year new luxury vinyl flooring throughout. Parking for two vehicles on the property in front. Large front, side yard and backyards for the whole family to play in. Back standalone house is an adorable, 1 bedroom, 1 bath home with side and front yards and parking for 2 to 3 vehicles. This home is accessed through the alley and is separated from the front house with a gated fence. This cute house is in decent condition but could benefit from a full cosmetic remodel. Great location just a short 10-minute drive to downtown San Diego As a legal duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. SEE SUPPLEMENT... ...As a legal duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. Properties in this area don't come up very often and when they do they disappear quickly. Extremely strong rental area. Just two minutes from the 5 freeway and 8 minutes to downtown San Diego. Mature tree in front yard keeps the house really cool in the summer months. SUPPLEMENT: Owner purchased as an REO/Bank Foreclosure in 2009 so very little information was disclosed/available to buyer. Previous owner converted garget to living space permits unknown. Current owner added full bathroom to this garage bedroom. Entire front home is occupied by the same family. Much of the MLS information is estimated including but not limited to year bult and legality of garage conversion. Property is in a flood zone. Each home is insured separately $848 for 2033 and $463 for 2031 annually. NOTE: There have been no floods, even with all the rain we had early 2023 since owner purchased in 2009. Current zoning is RM 1-1 - Allows FAR of .75 - Lost size = 6140 sq ft x .75 = 4605 buildable square feet Front house 2033 is 1130 sq ft including the garage conversion Back house 2031 is 480 sq ft Total existing sq ft = 1610 4605 sq ft buildable – 1610 existing = 2995 sq ft left to build The .75 FAR allows for many ADU options. Contact agent for more information. Owner is a CA licensed real estate agent.
Exterior Features

Exterior Stucco Fencing PartialOther/Remarks Irrigation N/K Parking For RV GatedOn-Site ParkingPotential Space Parking Garage Desc Unit1 N/K Parking Garage Desc Unit2 N/K Parking Non Garage Desc Unit1 GatedUncoveredGuest Parking Parking Non Garage Desc Unit2 Uncovered Pool N/K Roof Composition Site Alley AccessPublic StreetRear Yd Str AccessSidewalksStreet Paved Spa N/K Topography Level Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 2 View N/K

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Heat Source Natural Gas Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 2 Total Baths Unit3 0 Total Baths Unit4 0 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups Yes Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 1 Units With Fireplaces 0 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 1 Water Heater Type GasOther/Remarks

Property Features

Actual Cap Rate 0.0 Age Restrictions N/K Annual Expense Actual 0 Association ID San Diego Association of REALTORS (SDAR) Buildings 1 Cfd Mello Roos Fee 0.0 Community SAN DIEGO Complex Park San Diego Cross Streets Cottonwood Gross Rent Multiplier Actual 19.9 Gross Rent Multiplier Project 14.7 Gross Scheduled Income Actual 41724 Gross Scheduled Income Project 56400 Mandatory Remarks None Known Market Area Metro Central Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 0 Pets Yes Possession Close of Escrow Projected Other Income 0.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Telecommunications Cable (coaxial) Tenant Pays Cable TVElectricityGas/PropaneHot Water Terms CashConventionalExchangeFHAVA Unit Number For Unit1 2031 Unit Number For Unit2 2033 Unit1 Deposit 1000 Unit1 Occupied Tenant Unit1 Projected Rent 1600.0 Unit1 Rent Actual 1057.0 Unit2 Deposit 2200 Unit2 Occupied Tenant Unit2 Projected Rent 3100.0 Unit2 Rent Actual 2420.0 Water Meter on Property Water District CITY OF SAN DIEGO Zoning RM 1-1

San Diego MLS logo Listing provided courtesy of Chris Townson of eXp Realty of California, Inc.: 619-520-6674. 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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The Neuman Team
516 5th Avenue
San Diego CA, 92101