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    3707-09 Georgia St

    San Diego, CA 92103
    • $1,048,900
    • STATUS: PENDING
    • ON SITE: 132 days
    • ID#: 200021038
    Pending
    UPDATED: 155 min ago
    $1,048,900
    • 4
      BEDS
    • N/A
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    • 1,820
      SQFT
    • $576
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1927
    County:

    School Ratings & Info

    Description

    Only two blocks to Balboa Park with favorable RM-3-7 zoning, allowing one unit per 1K sqft! This Classic Spanish Style North Park duplex is what you have been looking for as a solid long-term investment. The property consists of 2 bed / 1 bathroom spacious 910 sqft units. Both units have natural hardwood floors, plenty of light, detached garages, fireplace in upstairs unit, & great long term and STR rental histories. The upper unit is month-to-month for buyer owner occupancy if desired. The lower unit is tenant occupied and the upper unit has a MTM short term renter, making this investment a great opportunity for an owner-occupied buyer that wants to live in one unit and rent the other or an investor that wants to lease the top unit at market rates. Because of the property’s prime location, it would also make for a great AirBnB due to the proximity to Balboa Park, Downtown San Diego, and our local beaches. With RM-3-7 zoning, allowing 1 unit per 1,000 sqft on this 3,001 sqft lot, there might be the potential to build more. Currently there are two units with the potential zoning to possibly build one additional unit. There is also a two-car garage with electric and plumbing already going to it. Buyer and buyer’s agent to verify any and all development opportunity and the ability to add a 3rd unit. 3709 is the upper unit and 3707 is the lower unit. Because 3709 is the upper unit with superior views it demands a higher rental rate.

    Monthly Payment Calculator

    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/105714097
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    3707-09 Georgia St San Diego, CA 92103

    • Price: $1,048,900
    • Status: PENDING
    • Updated: 155 min ago
    • ID#: 200021038
    4
    Beds
    2
    Baths
    0
    ½ Baths
    N/A
    Acres
    1,820
    SQFT
    $576
    $/SQFT
    1927
    Built
    Neighborhood:
    North Park
    County:
    San Diego
    Area:
    Mission Hills (92103)
    Property Description
    Only two blocks to Balboa Park with favorable RM-3-7 zoning, allowing one unit per 1K sqft! This Classic Spanish Style North Park duplex is what you have been looking for as a solid long-term investment. The property consists of 2 bed / 1 bathroom spacious 910 sqft units. Both units have natural hardwood floors, plenty of light, detached garages, fireplace in upstairs unit, & great long term and STR rental histories. The upper unit is month-to-month for buyer owner occupancy if desired. The lower unit is tenant occupied and the upper unit has a MTM short term renter, making this investment a great opportunity for an owner-occupied buyer that wants to live in one unit and rent the other or an investor that wants to lease the top unit at market rates. Because of the property’s prime location, it would also make for a great AirBnB due to the proximity to Balboa Park, Downtown San Diego, and our local beaches. With RM-3-7 zoning, allowing 1 unit per 1,000 sqft on this 3,001 sqft lot, there might be the potential to build more. Currently there are two units with the potential zoning to possibly build one additional unit. There is also a two-car garage with electric and plumbing already going to it. Buyer and buyer’s agent to verify any and all development opportunity and the ability to add a 3rd unit. 3709 is the upper unit and 3707 is the lower unit. Because 3709 is the upper unit with superior views it demands a higher rental rate.
    Exterior Features

    Exterior Stucco Fencing Partial Frontage N/K Parking Garage Desc Unit1 AssignedDetached Parking Garage Desc Unit2 AssignedDetached Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Parking Non Garage Desc Unit1 Uncovered Parking Non Garage Desc Unit2 Uncovered Roof Rolled/Hot MopTile/Clay Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Units With Garages 2 Units With Patios 0

    Interior Features

    Cooling Wall/Window Furnished Units 1 Half Baths Unit1 0 Half Baths Unit2 0 Heat Equipment Wall/Gravity Heat Source Natural Gas Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 0 Total Baths Unit4 0 Unit1 Laundry Hook Ups Common Unit2 Laundry Hook Ups Common Units With Cooling 2 Units With Dishwashers 0 Units With Dryers 2 Units With Fireplaces 1 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 2

    Property Features

    Actual Cap Rate 3.86 Age Restrictions N/K Annual Expense Actual 14160 Annual Expense Projected 14700 Association ID San Diego Association Of Realtors (Sdar) Buildings 2 Cfd Mello Roos Fee 0.0 Community North Park Complex Park North Park Cross Streets Florida Ct Gross Rent Multiplier Actual 19.4 Gross Rent Multiplier Project 18.7 Gross Scheduled Income Actual 56640 Gross Scheduled Income Project 58800 Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Net Operating Income Projected 44100 Other Fees 0.0 Other Income Actual 0 Projected Cap Rate 4.0 Sales Restrictions N/K Security N/K Short Sale No Tenant Pays ElectricityGas/Propane Terms CashConventionalFhaVa Unit Number For Unit1 3707 Unit Number For Unit2 3709 Unit1 Deposit 2200 Unit1 Occupied Tenant Unit1 Projected Rent 2225.0 Unit1 Rent Actual 2225.0 Unit2 Deposit 0 Unit2 Occupied Vacant Unit2 Projected Rent 2800.0 Unit2 Rent Actual 2800.0 Zoning Rm-3-7

    Listing provided courtesy of Compass. 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