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572 21st Street

San Diego, CA 92102
  • $1,495,000
  • STATUS: ACTIVE
  • ON SITE: 67 Days
  • ID#: 220013595
UPDATED: 66 min ago
$1,495,000
  • 4
    BEDS
  • 0.1
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 2,145
    SQFT
  • $697
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

Description

PRICE REDUCTION! 572 21st Street is a restored 3-unit multifamily property located in San Diego’s gentrifying Sherman Heights neighborhood just east of Downtown. This complex consists a single 2-story buildings built on a 4,254 square foot lot with approximately 2,145 rentable square feet. The unit mix is composed of one 3-bedroom / 1.5-bathroom house, one 1-bedroom / 1-bathroom unit and a single studio loft above the main house. The 3-bedroom unit could be configured as is currently, as a live-work space, or potentially an office. The complex has been well maintained and features an alluring historic Victorian Architectural style. In 2000, the property went through major renovations with all new plumbing throughout, new electrical, drywall and partial foundation replacement. Each unit is sub-metered for water. The property is historic and Mills Act eligible if the new owner decides to take advantage of substantial property tax savings with very little headache. This asset represents an opportunity for an owner to purchase a stabilized complex with residential financing in one of San Diego’s most gentrifying neighborhoods. Sherman Heights is a historic urban neighborhood located just outside of the heart of San Diego’s downtown area and Balboa Park, known for its architectural variety and views of the bay. This property also has easy access to the I-5 and 94 freeways, allowing residents excellent work mobility. This location allows for the neighborhood’s popular restaurants, shops, and entertainment all to be within walking distance from the property.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/129391352
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572 21st Street San Diego, CA 92102

  • Price: $1,495,000
  • Status: ACTIVE
  • On Site: 67 Days
  • Updated: 66 min ago
  • ID#: 220013595
4
Beds
3
Baths
0
½ Baths
0.1
Acres
2,145
SQFT
$697
$/SQFT
1900
Built
Neighborhood:
Sherman Heights
County:
San Diego
Area:
San Diego (92102)
Property Description
PRICE REDUCTION! 572 21st Street is a restored 3-unit multifamily property located in San Diego’s gentrifying Sherman Heights neighborhood just east of Downtown. This complex consists a single 2-story buildings built on a 4,254 square foot lot with approximately 2,145 rentable square feet. The unit mix is composed of one 3-bedroom / 1.5-bathroom house, one 1-bedroom / 1-bathroom unit and a single studio loft above the main house. The 3-bedroom unit could be configured as is currently, as a live-work space, or potentially an office. The complex has been well maintained and features an alluring historic Victorian Architectural style. In 2000, the property went through major renovations with all new plumbing throughout, new electrical, drywall and partial foundation replacement. Each unit is sub-metered for water. The property is historic and Mills Act eligible if the new owner decides to take advantage of substantial property tax savings with very little headache. This asset represents an opportunity for an owner to purchase a stabilized complex with residential financing in one of San Diego’s most gentrifying neighborhoods. Sherman Heights is a historic urban neighborhood located just outside of the heart of San Diego’s downtown area and Balboa Park, known for its architectural variety and views of the bay. This property also has easy access to the I-5 and 94 freeways, allowing residents excellent work mobility. This location allows for the neighborhood’s popular restaurants, shops, and entertainment all to be within walking distance from the property.
Exterior Features

Exterior Wood Fencing Gate Roof Composition Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Units With Garages 0 Units With Patios 3

Interior Features

Cooling Wall/Window Furnished Units 0 Half Baths Unit1 1 Half Baths Unit2 0 Half Baths Unit3 0 Stories 2 Story Total Baths Unit1 2 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 3 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 1.97 Age Restrictions N/K Annual Expense Actual 29075 Association ID San Diego Association Of Realtors (Sdar) Buildings 1 Cfd Mello Roos Fee 0.0 Community San Diego Complex Park 0 Cross Streets 21st & Market Est Percent Owner Occupancy 0.0 Gross Rent Multiplier Actual 25.96 Gross Scheduled Income Actual 58740 Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Metro Central Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 2135 Sales Restrictions N/K Security Gated Community Short Sale No Tenant Pays ElectricityGas/Propane Terms CashConventionalFha Unit Number For Unit1 572 Unit Number For Unit2 2045 Unit Number For Unit3 2047 Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Rent Actual 2395.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Rent Actual 1250.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Rent Actual 1250.0

San Diego MLS logo Listing provided courtesy of Marcus & Millichap. Listing information © 2022 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 © 2022 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