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    2735 Hornblend St

    San Diego, CA 92109
    • $1,999,000
    • STATUS: ACTIVE
    • ON SITE: 105 days
    • ID#: 200039030
    UPDATED: 68 min ago
    $1,999,000
    • 8
      BEDS
    • 0.16
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    • 4,212
      SQFT
    • $475
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1977
    County:

    School Ratings & Info

    Description

    Property has recorded Parcel Map...so a Great opportunity for units to be condomiumized/sold individually! 4 Remodeled Townhome each w/private patio & plenty of parking(8 SPACES!) to meet current parking requirements= ripe for sale of 4 separate townhomes. Owner has over 162K of renovations into units &building to prep for future indiv. sales.BONUS=if buyer wants, Unique opportunity for above market rents as Property Mangr/Owner works w/International Language school students .Great 4 Vacation Rentals Too! 3 of 4 units are rented to International Students via Owner's Property Mangers Company that houses international students. After 12 years of being property manager for International Students at the top local language schools, the owner is transitioning out of this unique niche and investing in a similar business out of area...so the current owner is willing to introduce & assign all international student leases(or he can deliver the 3 units vacant as the International students can leave with 30 day notice) One unit is rented long term to non international students/just a traditional rental until May(unit 4). Separate Laundry Room and Storage unit.Projected rents were actual rents with 100% occupancy of international students, current rents are at 75%, occupied by International Students via contract with local International Language Schools who owner has worked with to provide their students housing for over 12 years. Owner can deliver property to buyer with International Students as Renters or with long term tenants at at least $2800 per month rent or vacant. 5 parking spaces in back of unit off alley next to laundry room and storage shed Plus 3 spaces up front = plenty of parking! Units are really well done, nice light and bright interiors, each unit has a private patio, building is in great condition...a truly great opportunity!

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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/108873270
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    2735 Hornblend St San Diego, CA 92109

    • Price: $1,999,000
    • Status: ACTIVE
    • Updated: 68 min ago
    • ID#: 200039030
    8
    Beds
    8
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,212
    SQFT
    $475
    $/SQFT
    1977
    Built
    Neighborhood:
    Pacific Beach
    County:
    San Diego
    Area:
    Pacific Beach (92109)
    Property Description
    Property has recorded Parcel Map...so a Great opportunity for units to be condomiumized/sold individually! 4 Remodeled Townhome each w/private patio & plenty of parking(8 SPACES!) to meet current parking requirements= ripe for sale of 4 separate townhomes. Owner has over 162K of renovations into units &building to prep for future indiv. sales.BONUS=if buyer wants, Unique opportunity for above market rents as Property Mangr/Owner works w/International Language school students .Great 4 Vacation Rentals Too! 3 of 4 units are rented to International Students via Owner's Property Mangers Company that houses international students. After 12 years of being property manager for International Students at the top local language schools, the owner is transitioning out of this unique niche and investing in a similar business out of area...so the current owner is willing to introduce & assign all international student leases(or he can deliver the 3 units vacant as the International students can leave with 30 day notice) One unit is rented long term to non international students/just a traditional rental until May(unit 4). Separate Laundry Room and Storage unit.Projected rents were actual rents with 100% occupancy of international students, current rents are at 75%, occupied by International Students via contract with local International Language Schools who owner has worked with to provide their students housing for over 12 years. Owner can deliver property to buyer with International Students as Renters or with long term tenants at at least $2800 per month rent or vacant. 5 parking spaces in back of unit off alley next to laundry room and storage shed Plus 3 spaces up front = plenty of parking! Units are really well done, nice light and bright interiors, each unit has a private patio, building is in great condition...a truly great opportunity!
    Exterior Features

    Exterior StuccoWood Fencing Partial Frontage Other/Remarks Frontage Dimensions In Feet 50 Lot Dimensions Approx 50 X 138 Parking Non Garage Desc Unit1 Assigned Parking Non Garage Desc Unit2 Assigned Parking Non Garage Desc Unit3 Assigned Parking Non Garage Desc Unit4 Assigned Parking Spaces Total Unit1 2.0 Parking Spaces Total Unit2 2.0 Parking Spaces Total Unit3 2.0 Parking Spaces Total Unit4 2.0 Roof Composition 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 Wall/Window Furnished Units 4 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Stories 2 Story Total Baths Unit1 2 Total Baths Unit2 2 Total Baths Unit3 2 Total Baths Unit4 2 Unit1 Laundry Hook Ups Common Unit2 Laundry Hook Ups Common Unit3 Laundry Hook Ups Common Unit4 Laundry Hook Ups Common Units With Cooling 4 Units With Dishwashers 4 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 0

    Property Features

    Actual Cap Rate 4.71 Age Restrictions N/K Annual Expense Actual 34952 Annual Expense Projected 42752 Association ID San Diego Association Of Realtors (Sdar) Buildings 1 Cfd Mello Roos Fee 0.0 Community Pacific Beach Complex Park The Retreat-Kamo Housing Cross Streets Bond Gross Rent Multiplier Actual 15.48 Gross Rent Multiplier Project 10.97 Gross Scheduled Income Actual 129120 Gross Scheduled Income Project 182112 Mandatory Remarks None Known Market Area Coastal South Monthly Total Fees 80 Net Operating Income Projected 139367 Other Fee Type Other/Remarks Other Fees 80.0 Other Fees Payment Frequency Monthly Other Fees Reflect Month Other Income Actual 120 Projected Cap Rate 6.97 Projected Other Income 520.0 Sales Restrictions N/K Security Other/Remarks Short Sale No Tenant Pays N/K Terms CashConventionalExchangeFhaVa Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Deposit 500 Unit1 Occupied Tenant Unit1 Projected Rent 3800.0 Unit1 Rent Actual 2800.0 Unit2 Deposit 500 Unit2 Occupied Tenant Unit2 Projected Rent 3800.0 Unit2 Rent Actual 2800.0 Unit3 Deposit 500 Unit3 Occupied Tenant Unit3 Projected Rent 3800 Unit3 Rent Actual 2800.0 Unit4 Deposit 1000 Unit4 Occupied Tenant Unit4 Projected Rent 3800 Unit4 Rent Actual 2850.0 Water District City Of San Diego Zoning Rm-2-5

    Listing provided courtesy of Exp Realty Of California Inc. 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