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    2515 Congress St

    San Diego, CA 92110
    • $2,290,000
    • STATUS: ACTIVE
    • ON SITE: 184 days
    • ID#: 200017986
    UPDATED: 49 min ago
    $2,290,000
    • 7
      BEDS
    • 0.18
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Rare find 7 units + 1 non-conforming studio unit in the heart of Old Town. Seller financing possible* Walk to everything shops, restaurants, bistros, bars and the Trolly Station! Units consist of 2 separate free standing cottages, 2 spacious light and airy 2 bedroom 1 bath units with windows on all sides! 5 1 bedroom 1 bath units and 1 Non-Conforming Studio unit. The 2 Free Cottages are like doll houses and are being renovated and all other units are updated and move in ready. Lot is zoned commercial the possibilities are endless. All Units are Sold fully furnished and decorated. These have been run as nightly and weekly vacation rentals; ALL Rents & Expense Numbers are PROFORMA Estimates. *Note 1% origination fee to buyer payable to seller's broker to underwrite borrower and negotiate and arrange owner financing. A minimum of 40% down payment required.

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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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/105183024
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    2515 Congress St San Diego, CA 92110

    • Price: $2,290,000
    • Status: ACTIVE
    • Updated: 49 min ago
    • ID#: 200017986
    7
    Beds
    8
    Baths
    0
    ½ Baths
    0.18
    Acres
    Neighborhood:
    Old Town Sd (92110)
    County:
    San Diego
    Area:
    Old Town Sd (92110)
    Property Description
    Rare find 7 units + 1 non-conforming studio unit in the heart of Old Town. Seller financing possible* Walk to everything shops, restaurants, bistros, bars and the Trolly Station! Units consist of 2 separate free standing cottages, 2 spacious light and airy 2 bedroom 1 bath units with windows on all sides! 5 1 bedroom 1 bath units and 1 Non-Conforming Studio unit. The 2 Free Cottages are like doll houses and are being renovated and all other units are updated and move in ready. Lot is zoned commercial the possibilities are endless. All Units are Sold fully furnished and decorated. These have been run as nightly and weekly vacation rentals; ALL Rents & Expense Numbers are PROFORMA Estimates. *Note 1% origination fee to buyer payable to seller's broker to underwrite borrower and negotiate and arrange owner financing. A minimum of 40% down payment required.
    Exterior Features

    Construction FrameStucco Exterior Metal Fence Parking Other/Remarks Roof Composition

    Interior Features

    Floor Coverings TileVinyl Floors Wood Heating Wall Laundry Leased Sq Ft Of Improvement 3590 Stories 1 Story2 Story Unit Furnished1 5 Unit Furnished2 2 Unit Furnished3 1 Units With Drapes 8 Units With Ranges 8 Units With Refrigerators 8

    Property Features

    Actual Gross Scheduled Income 162720.0 Actual Operating Expense 51011 Assumable Finance 0 Buildings 1 Existing Financing Conventional Financial Information Source Limited Info Gross Equity 1400000 Gross Multiplier 14.75 Have Apartments Mandatory Remarks None Known Market Area Metro Monthly Rent Total 13560 Motive Want Cash Out Retire Other Income Source Proforma Projected Cap Rate 4.65 Projected Gross Scheduled Inc 162720 Projected Net Income 11709 Projected Operating Expense 51011 Short Sale No Sq Ft Source Tax Record Terms CashCash To New LoanOwner May Carry 1st Unit Number1 5 Unit Number2 2 Unit Number3 1 Unit Rent Total1 8450 Unit Rent Total2 3760 Unit Rent Total3 1350 Unit Rent1 1690 Unit Rent2 1880 Unit Rent3 1350 Unit Type ApartmentFree StandingOther/Remarks Zoning Commercial

    Listing provided courtesy of Aare. Listing information © 2020 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 © 2020 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