24
See all 24 photos
$2,295,000
Est. payment /mo
9 Beds
6 Baths
6,586 Sqft Lot
New
1951-55 Hornblend St. San Diego, CA 92109
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 260024308
Bedrooms 9
Full Baths 4
Half Baths 2
Year Built 1977
Lot Size 6,586 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Pacific Beach 3-unit with garage upside, one block off Garnet Ave. Current rents $16,000/mo ($192,000/yr), a 5.90% cap on a buyer's basis. Tenants pay water, sewer, trash, SDG&E and internet, and reimburse the City trash fee. Detached single-level 5BR/2BA front house (~1,150 sf) with fireplace, fenced patio yard and 2-car driveway. Two mirror-image 2-story 2BR/1.5BA townhomes in back (~1,000 sf each): living room open to above, eat-in kitchen and half bath downstairs, two bedrooms upstairs over the garage, private patio and an alley parking space for each. The value-add is the ~800 sf garage, with two paths. Path A: extend both rear units into the garage to make each a 4BR/2.5BA, est. $75K. At the front house's $1,580 per bedroom, that projects a 7.60% yield on price plus cost. Path B: convert the garage into a separate 3BR ADU at an est. $5,500/mo. Both keep all four off-street spaces and are subject to City of San Diego approval. Around the corner from Better Buzz Coffee and Garnet dining; ~1/3 mi to Trader Joe's and Mission Bay; ~1.3 mi to the beach at Crystal Pier. 6,586 sf lot, zoned CO-1-2. Full OM with financials, floor plans and renderings available on request.
Location
State CA
County San Diego
Community Bbq
Area Coastal South
Zoning R3
Interior
Heating Fireplace
Fireplace No
Exterior
Fence Partial
Utilities Available Sewer Connected
View Y/N No
Water Access Desc Meter on Property
Roof Type Composition
Building
Water Meter on Property
Others
Senior Community No
Tax ID 424-042-07-00
Acceptable Financing Cash, Conventional, VA
Listing Terms Cash, Conventional, VA
Listed by Monroe Herington, DRE#01930053 eXp Realty of California Inc
NEARBY SCHOOL & BUSINESS
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