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5137-39 Bellvale Ave

San Diego, CA 92117
  • $1,599,000
  • STATUS: ACTIVE
  • ON SITE: 21 Days
  • ID#: 240009210
Price Reduced
UPDATED: 104 min ago
$1,599,000
  • 5
    BEDS
  • N/A
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 2,112
    SQFT
  • $757
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1992
County:

School Ratings & Info

Description

Variance granted 2-4 Units. Seize the Moment: Secure Your Financial Future Today! Strategically located property with two meticulously designed homes, ensuring high tenant satisfaction. Renovated front home from the 1960s and a modern ADU in the back offer contemporary living standards and privacy. Both units feature solar panels and artificial turf, minimizing operating costs. With the potential for tax-deferred exchanges and a hedge against inflation, this opportunity promises enduring wealth accumulation in the dynamic real estate market. Anybody can benefit: house-hackers, multi-gen living arrangements or share with your BFF! Prime Investment Opportunity: Strategically situated in a sought-after location, this property boasts not one, but two full-sized homes meticulously designed for optimal tenant satisfaction. With a nod to modernity, these units feature desirable floor plans and contemporary amenities, ensuring high occupancy rates and consistent cash flow. The front home, originally constructed in the 1960s, has been thoughtfully renovated to meet modern standards, while the back unit, permitted as an ADU in 2020, comes equipped with a state-of-the-art mini-split system. Adding to the allure of this investment, both units are outfitted with solar panels, offering substantial long-term savings on utility expenses. In anticipation of rising inflation, real estate stands as a stalwart hedge against economic uncertainty, making this property an even more compelling investment opportunity. Moreover, with the flexibility to cater to various living arrangements, from house-hackers to multi-generational occupants, and the potential for tax-deferred exchanges through the 1031 exchange program, this offering presents a gateway to enduring wealth accumulation. The property's solar panels and artificial turf result in lower operating costs, maximizing profitability. Seize the chance to capitalize on the promising returns this property promises in the ever-evolving real estate landscape.

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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/149981682
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5137-39 Bellvale Ave San Diego, CA 92117

  • Price: $1,599,000
  • Status: ACTIVE
  • On Site: 21 Days
  • Updated: 104 min ago
  • ID#: 240009210
5
Beds
5
Baths
0
½ Baths
N/A
Acres
2,112
SQFT
$757
$/SQFT
1992
Built
Neighborhood:
Clairemont
County:
San Diego
Area:
Clairemont Mesa (92117)
Property Description
Variance granted 2-4 Units. Seize the Moment: Secure Your Financial Future Today! Strategically located property with two meticulously designed homes, ensuring high tenant satisfaction. Renovated front home from the 1960s and a modern ADU in the back offer contemporary living standards and privacy. Both units feature solar panels and artificial turf, minimizing operating costs. With the potential for tax-deferred exchanges and a hedge against inflation, this opportunity promises enduring wealth accumulation in the dynamic real estate market. Anybody can benefit: house-hackers, multi-gen living arrangements or share with your BFF! Prime Investment Opportunity: Strategically situated in a sought-after location, this property boasts not one, but two full-sized homes meticulously designed for optimal tenant satisfaction. With a nod to modernity, these units feature desirable floor plans and contemporary amenities, ensuring high occupancy rates and consistent cash flow. The front home, originally constructed in the 1960s, has been thoughtfully renovated to meet modern standards, while the back unit, permitted as an ADU in 2020, comes equipped with a state-of-the-art mini-split system. Adding to the allure of this investment, both units are outfitted with solar panels, offering substantial long-term savings on utility expenses. In anticipation of rising inflation, real estate stands as a stalwart hedge against economic uncertainty, making this property an even more compelling investment opportunity. Moreover, with the flexibility to cater to various living arrangements, from house-hackers to multi-generational occupants, and the potential for tax-deferred exchanges through the 1031 exchange program, this offering presents a gateway to enduring wealth accumulation. The property's solar panels and artificial turf result in lower operating costs, maximizing profitability. Seize the chance to capitalize on the promising returns this property promises in the ever-evolving real estate landscape.
Exterior Features

Exterior Stucco Fencing Full Parking Garage Desc Unit1 Attached Parking Garage Desc Unit2 N/K Roof Composition Spa Yes Topography Level Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard Yes Units With Garages 1 Units With Patios 2

Interior Features

Cooling Other/Remarks Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 1 Stories Other/Remarks Total Baths Unit1 3 Total Baths Unit2 3 Total Baths Unit3 0 Total Baths Unit4 0 Unit1 Laundry Hook Ups Yes Unit2 Laundry Hook Ups Yes Units With Cooling 1 Units With Dishwashers 2 Units With Dryers 2 Units With Fireplaces 0 Units With Range Oven 2 Units With Refrigerators 2 Units With Washers 1

Property Features

Actual Cap Rate 4.0 Age Restrictions N/K Annual Expense Actual 6000 Annual Expense Projected 24800 Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community CLAIREMONT Complex Park Clairemont Cross Streets Lyric Ln Gross Rent Multiplier Actual 18.0 Gross Rent Multiplier Project 18.0 Gross Scheduled Income Actual 94800 Gross Scheduled Income Project 94800 Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Metro Monthly Total Fees 0 Net Operating Income Projected 70000 Other Fees 0.0 Other Income Actual 0 Projected Cap Rate 4.0 Projected Other Income 0.0 Sales Restrictions N/K Security N/K Short Sale No Tenant Pays N/K Terms CashConventionalVA Unit Number For Unit1 5137 Unit Number For Unit2 5139 Unit1 Deposit 2800 Unit1 Occupied Vacant Unit1 Projected Rent 4500.0 Unit1 Rent Actual 0.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 3400.0 Unit2 Rent Actual 3100.0 Water Meter on Property Water District CITY OF SAN DIEGO

San Diego MLS logo Listing provided courtesy of Lenska Bracknell of LENSKA Realty: 858-717-0314. 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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