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4473-4479 Idaho St

San Diego, CA 92116
  • $1,795,000
  • STATUS: ACTIVE
  • ON SITE: 23 Days
  • ID#: 240009900
UPDATED: 50 min ago
$1,795,000
  • 6
    BEDS
  • 0.16
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,237
    SQFT
  • $802
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1942
County:

Description

This is it! You know everyone's looking for this, and it's SO hard to find TRUE (and Legal) 4-Plexes priced at and based on their ACTUAL financials. Don't miss out because this property checks all of the boxes for so many different investors. Located in the highly desirable University Heights sub-market, opportunities like this don't come up often. Property has excellent long term tenant history. The property is laid out smartly for an owner user to occupy the front home and take in excellent rental income to offset a mortgage with the rear triplex. Spanish architecture offers a touch of emotional appeal, which blends brilliantly into the surrounding neighborhood. Property is located within a couple short blocks of two major transportation corridors amplifying the tenant attraction. Add to that an endless number of walkable shops, cafes, restaurants and miscellaneous services such as gyms, auto shops, fast food, and churches and you have the ideal rental. Excellent for 1st time investor, or just add another fantastic asset to your portfolio. See supplement... Attention Developers! This is an ideal pick up for current or future apartment building. With both alley and street access, it definitely makes construction easier. The 7000sf lot sits in the Complete Communities zoning overlay. Excellent current zoning of RM2-5 offers extremely advantageous options to limit the income restricted units to 2 or possibly 3 at the most. With a 6.5 FAR, the sky's the limit. ***All information is provided for convenience only and not intended to be relied upon. All buyers must confirm all zoning and regulations for themselves prior to removal of all contingencies.***

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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/150240030
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4473-4479 Idaho St San Diego, CA 92116

  • Price: $1,795,000
  • Status: ACTIVE
  • On Site: 23 Days
  • Updated: 50 min ago
  • ID#: 240009900
6
Beds
4
Baths
0
½ Baths
0.16
Acres
2,237
SQFT
$802
$/SQFT
1942
Built
Neighborhood:
Normal Heights
County:
San Diego
Area:
Normal Heights (92116)
Elementary School:
San Diego Unified School District
Middle School:
San Diego Unified School District
High School:
San Diego Unified School District
Property Description
This is it! You know everyone's looking for this, and it's SO hard to find TRUE (and Legal) 4-Plexes priced at and based on their ACTUAL financials. Don't miss out because this property checks all of the boxes for so many different investors. Located in the highly desirable University Heights sub-market, opportunities like this don't come up often. Property has excellent long term tenant history. The property is laid out smartly for an owner user to occupy the front home and take in excellent rental income to offset a mortgage with the rear triplex. Spanish architecture offers a touch of emotional appeal, which blends brilliantly into the surrounding neighborhood. Property is located within a couple short blocks of two major transportation corridors amplifying the tenant attraction. Add to that an endless number of walkable shops, cafes, restaurants and miscellaneous services such as gyms, auto shops, fast food, and churches and you have the ideal rental. Excellent for 1st time investor, or just add another fantastic asset to your portfolio. See supplement... Attention Developers! This is an ideal pick up for current or future apartment building. With both alley and street access, it definitely makes construction easier. The 7000sf lot sits in the Complete Communities zoning overlay. Excellent current zoning of RM2-5 offers extremely advantageous options to limit the income restricted units to 2 or possibly 3 at the most. With a 6.5 FAR, the sky's the limit. ***All information is provided for convenience only and not intended to be relied upon. All buyers must confirm all zoning and regulations for themselves prior to removal of all contingencies.***
Exterior Features

Boat Facilities No/Unknown Exterior StuccoWood/Stucco Fencing Partial Irrigation N/K Parking For RV None Known Parking Garage Desc Unit1 N/K Parking Garage Desc Unit2 N/K Parking Garage Desc Unit3 N/K Parking Garage Desc Unit4 N/K Parking Garage Spaces Unit1 0 Parking Garage Spaces Unit2 0 Parking Garage Spaces Unit3 0 Parking Garage Spaces Unit4 0 Parking Non Garage Desc Unit1 Assigned Parking Non Garage Desc Unit2 Assigned Parking Non Garage Desc Unit3 Assigned Parking Non Garage Desc Unit4 Tandem Pool N/K Roof Composition Site Alley AccessCurbsPublic StreetSidewalksStreet Paved Spa N/K Topography Level Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Unit3 Exclusive Use Yard Yes Unit4 Exclusive Use Yard Yes Units With Garages 0 Units With Patios 1 View N/K

Interior Features

Cooling Central Forced Air Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Forced Air UnitWall/Gravity Heat Source Natural Gas Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups Yes Unit4 Laundry Hook Ups Yes Units With Cooling 4 Units With Dishwashers 0 Units With Dryers 1 Units With Fireplaces 1 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 1 Water Heater Type Gas

Property Features

Actual Cap Rate 4.5 Additional Property Use N/K Age Restrictions N/K Annual Expense Actual 27919 Annual Expense Projected 35841 Assessments Yes/Remarks Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community UNIVERSITY HEIGHTS Complex Park NA Cross Streets Monroe Ave Est Percent Owner Occupancy 0.0 Gross Rent Multiplier Actual 16.67 Gross Rent Multiplier Project 15.86 Gross Scheduled Income Actual 119340 Gross Scheduled Income Project 125340 Home Owners Fees 0.0 Jurisdiction Incorporated Mandatory Remarks None Known Market Area Metro Uptown Miscellaneous Other/Remarks Monthly Total Fees 0 Net Operating Income Projected 89499 Other Fee Type N/K Other Fees 0.0 Other Income Actual 0 Pets Allowed w/Restrictions Possession Call Listing Agent Projected Cap Rate 4.49 Projected Other Income 0.0 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Tenant Pays WaterCable TVElectricityGas/Propane Terms CashConventionalFHAVA Unit Number For Unit1 4473 Unit Number For Unit2 4475 Unit Number For Unit3 4477 Unit Number4 4479 Unit1 Deposit 1600 Unit1 Occupied Tenant Unit1 Projected Rent 2025.0 Unit1 Rent Actual 1925.0 Unit2 Deposit 1700 Unit2 Occupied Tenant Unit2 Projected Rent 2025.0 Unit2 Rent Actual 1925.0 Unit3 Deposit 1950 Unit3 Occupied Tenant Unit3 Projected Rent 2100 Unit3 Rent Actual 2000.0 Unit4 Deposit 3500 Unit4 Occupied Tenant Unit4 Projected Rent 4295 Unit4 Rent Actual 4095.0 Vacation Rental By Owner No Water Meter on Property Water District CITY OF SAN DIEGO Zoning R-3: RM

San Diego MLS logo Listing provided courtesy of Ken Pecus of eXp Realty of California, Inc: 619-675-0123. 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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