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Sold for $1,500,000 Sold
2 units | Multi Family 2-4
7000 sq ft - MLS# 150063484
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1/5

Sold

Sold for $1,500,000 on May 12, 2016

Represented Buyer & Seller

Description

Opportunity Knocks! TWO 3 Bedroom / 2 Bath Homes on 7000 esf Lot with Alley Access. Desirable Beach Barber Tract Location, just blocks to Windansea Beach. Both Homes offer Mid-Century Influenced Architectural Lines & have Identical Layouts with Vaulted Open Beamed Ceilings, Fireplace, Screen Block Courtyard Patios & Attached Carport. First Time Ever on Market! Significantly Below Market Rents with Long-Term Tenants. Deferred Maintenance, but Good Bones & Great Potential! Truly a Rare Opportunity!, Buyer to verify & satisfy self with regards to MLS information, size of dwellings, lot size, zoning & redevelopment potential, prior to the removal of contingencies. Projected Income is based on remodeling/updating.

Features

  • Zoning: 2
  • Unit 1 Estimated SqFt: 1200
  • Unit 1 # Total Baths: 2
  • Unit 1 # of Full Baths: 2
  • Unit 1 # Bedrooms: 3
  • Unit # for Unit 2: 7211
  • Unit # for Unit 1: 7209
  • Topography: Level
  • Tenant Pays: Sewer, Trash, Water, Cable TV, Electricity, Gas/Propane
  • Subdivision/Neighborhood: Beach Barber Tract
  • Subdivision: Beach Barber Tract
  • Sub Type: Multi Family 2-4
  • Unit 1 Exclusive Use Yard: Yes
  • Unit 1 Projected Rent: 3400
  • Unit 1 Rent Actual: 1275
  • Zip Code: 92037
  • Year Built: 1965
  • Water: Meter on Property
  • Units: 2
  • Unit 2 Rent Actual: 2400
  • Unit 2 Projected Rent: 3400
  • Unit 2 Exclusive Use Yard: Yes
  • Unit 2 Estimated SqFt: 1200
  • Unit 2 # Total Baths: 2
  • Unit 2 # of Full Baths: 2
  • Unit 2 # Bedrooms: 3
  • Stories: 1 Story
  • Special Conditions Details: Estate
  • Siding: Stucco
  • Gross Rent Multiplier Act: 20
  • Fencing: Partial
  • County/Area: San Diego County
  • Community: La Jolla
  • Cap Rate Actual: 2.3
  • Annual Expense Projected: 8160
  • Annual Expense Actual: 4410
  • # of Units w/Refrigerator: 2
  • # of Units w/Range/Oven: 2
  • # of Units w/Patios: 2
  • # of Units w/Fireplaces: 2
  • Gross Sched Income Actual: 44100
  • Gross Sched Income Proj.: 81600
  • Listing Area: LA JOLLA (92037)
  • Sewer/Septic: Sewer Connected
  • School District: La Jolla
  • Roof: Composition
  • Property Type: Multi Family 2-4
  • Parking Non-Garage Unit 2: Carport
  • Parking Non-Garage Unit 1: Carport
  • Net Oper.Income Projected: 73440
  • Lot SqFt: 7000
  • Lot Size Area: 4, 000-7, 499 SF
  • Lot Description: Alley Access, Corner Lot, West Of I-5
  • Listing Status: Active
  • # of Buildings: 2

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