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320-24 S 49th Street

San Diego, CA 92113
  • $1,299,000
  • STATUS: ACTIVE
  • ON SITE: 39 Days
  • ID#: 240010682
$1,299,000
  • 6
    BEDS
  • 0.2
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Description

320-24 S 49th Street stands out as an exceptional opportunity in an Opportunity Zone, in harmony with the Complete Communities Plan. This property encompasses three fully upgraded 2-bedroom, 1-bath houses on an expansive 8,856 square foot lot. Unlocking its potential, envision adding an extra floor to each house or constructing a 3 or 4-story structure within the spacious grounds in the open space in between houses. Notably, all units have undergone significant renovations within the last 4 years, showcasing modern amenities such as tiled kitchens and baths, new cabinets, vanities, and appliances. Currently generating robust rental income averaging $2,700 to $2,800 per unit monthly, this property offers versatility. It suits multi-generational living, income generation through rentals, or serves as an enticing investment opportunity. Moreover, the flexibility extends to delivery options: it can be presented vacant, an attractive prospect for investors, or with tenants, with the added convenience of one year of included property management. This versatility makes it an appealing choice for various investment strategies.

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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/150524444
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320-24 S 49th Street San Diego, CA 92113

  • Price: $1,299,000
  • Status: ACTIVE
  • On Site: 39 Days
  • ID#: 240010682
6
Beds
3
Baths
0
½ Baths
0.2
Acres
1948
Built
Neighborhood:
Lincoln Park
County:
San Diego
Area:
Logan Heights (92113)
Property Description
320-24 S 49th Street stands out as an exceptional opportunity in an Opportunity Zone, in harmony with the Complete Communities Plan. This property encompasses three fully upgraded 2-bedroom, 1-bath houses on an expansive 8,856 square foot lot. Unlocking its potential, envision adding an extra floor to each house or constructing a 3 or 4-story structure within the spacious grounds in the open space in between houses. Notably, all units have undergone significant renovations within the last 4 years, showcasing modern amenities such as tiled kitchens and baths, new cabinets, vanities, and appliances. Currently generating robust rental income averaging $2,700 to $2,800 per unit monthly, this property offers versatility. It suits multi-generational living, income generation through rentals, or serves as an enticing investment opportunity. Moreover, the flexibility extends to delivery options: it can be presented vacant, an attractive prospect for investors, or with tenants, with the added convenience of one year of included property management. This versatility makes it an appealing choice for various investment strategies.
Exterior Features

Exterior Stucco Fencing FullPartial 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 Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 3

Interior Features

Cooling Swamp Cooler(s) Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 0 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Unit3 Laundry Hook Ups Yes Units With Cooling 1 Units With Dishwashers 3 Units With Dryers 3 Units With Fireplaces 0 Units With Range Oven 3 Units With Refrigerators 3 Units With Washers 3

Property Features

Actual Cap Rate 5.7 Age Restrictions N/K Annual Expense Actual 9250 Annual Expense Projected 23000 Association ID San Diego Association of REALTORS (SDAR) Buildings 3 Cfd Mello Roos Fee 0.0 Community SAN DIEGO Complex Park N/A Cross Streets Franklin Ave Gross Rent Multiplier Actual 15.59 Gross Rent Multiplier Project 13.46 Gross Scheduled Income Actual 83400 Gross Scheduled Income Project 96600 Mandatory Remarks None Known Market Area Metro Central Monthly Total Fees 0 Net Operating Income Projected 73600 Other Fees 0.0 Other Income Actual 0 Projected Cap Rate 5.7 Projected Other Income 0.0 Sales Restrictions N/KOther/Remarks Security N/K Short Sale No Tenant Pays SewerWaterCable TVElectricityGardener Terms ConventionalExchange Unit1 Deposit 2750 Unit1 Occupied Tenant Unit1 Projected Rent 2750.0 Unit1 Rent Actual 2750.0 Unit2 Deposit 1375 Unit2 Occupied Vacant Unit2 Projected Rent 2750.0 Unit2 Rent Actual 0.0 Unit3 Deposit 2700 Unit3 Occupied Vacant Unit3 Projected Rent 2700 Unit3 Rent Actual 0.0

San Diego MLS logo Listing provided courtesy of Amir Miraftab of eXp Realty of California, Inc.: 858-663-8188. 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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San Diego CA, 92101