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Key Details
Sold Price $1,560,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Linda Vista
MLS Listing ID 230005808SD
Sold Date 06/27/23
HOA Y/N No
Year Built 1942
Property Description
Turnkey Duplex with with Permitted Plans for 3 more units in rear of large lot. Plans approved after 2 YEARS & 50k of permitting fees. Save yourself $300k in holding costs and grab this chance to build a cash flowing property while you collect income from the current homes. This excellent 2 unit was renovated in 2019 and generates $5.9k/mo with low operating costs. The lot is 10k sq ft, RM-1-1+TPA+Alley Access and sits up on a hill so you can see the ocean from 2nd stories. Plans include 2 add. structures, 2 stories complete with 2 car garages and 3rd story rooftop decks for each unit. Option to convert to ADUs after to make 8 total units! Rental Projections of $20k-$25k per MONTH after build! With size and bath counts could easily be ran as a short/medium term rental to further increase cash flow. Pictures include renderings and existing improvements. See Docs for plans and projections. Property projected ARV of $3.9 million to $4.9 million after build. Current Duplex is a 6/4 1768 sq ft. Plans include 2 buildings, 3 Units (or 6). Building A is a 2 story 1537 sq ft, Single Family 4/3 featuring a 2 car garage and 3rd story rooftop deck. Building B is a Two story, 2 unit ADU. 3 beds and 3 baths these 1195 sq ft units will be gorgeous each with their own attached 2 car garages and 3rd story rooftop deck, hello ocean. Post construction property total: 3 buildings, 5 units (potential for 8 w/ garage conversions), 16 beds, 13 bath, and 5695 living sq ft. Close to USD, with high bath counts and private suites good option to rent by the door to student or run as short/medium term rentals!
Location
State CA
County San Diego
Area 92111 - Linda Vista
Zoning RM-1-1
Interior
Heating See Remarks
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
View Y/N Yes
View Ocean
Roof Type Composition
Building
Story 1
Entry Level One
Water See Remarks
Level or Stories One
Others
Senior Community No
Tax ID 4313331400
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
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Bought with Trent Hullen • Trent Hullen
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692