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Listing Details

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School Ratings & Info

Description

LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own an 4 Unit complex income property in the prime location of Point Loma Village. A few blocks from the Bay, this property is exactly what you were looking for. With its current condition, the building is brining $16,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. Built in 2002, this complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 3 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 unit are 2 bedroom 2.5 bath with extra bonus room (potential 3 bed). There are 23 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Point Loma, a block to the Bay from Shelter Island Drive. Minutes from San Diego Yacht Club, and Lucy Evans Memorial Garden. You are in the middle of Point Loma Village, next to Liberty Station, Silver Gate Yacht Club and 100s of restaurants and shops around. The other 4 Units in the complex is also for sale Number of Furnished Units: 0 Frontage: Bay

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T14:29:29.19. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
www.sellinglasouthbay.com/homes/120279531
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1060 Scott St San Diego, CA 92106

  • Price: $3,900,000
  • Status: Active
  • Updated: 57 min ago
  • ID#: 210022689
0
Beds
0
Baths
0
½ Baths
0.12
Acres
2002
Built
Neighborhood:
Point Loma
County:
San Diego
Area:
92106 - Point Loma
Property Description
LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own an 4 Unit complex income property in the prime location of Point Loma Village. A few blocks from the Bay, this property is exactly what you were looking for. With its current condition, the building is brining $16,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. Built in 2002, this complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 3 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 unit are 2 bedroom 2.5 bath with extra bonus room (potential 3 bed). There are 23 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Point Loma, a block to the Bay from Shelter Island Drive. Minutes from San Diego Yacht Club, and Lucy Evans Memorial Garden. You are in the middle of Point Loma Village, next to Liberty Station, Silver Gate Yacht Club and 100s of restaurants and shops around. The other 4 Units in the complex is also for sale Number of Furnished Units: 0 Frontage: Bay
Exterior Features

Fencing None Parking Total 0

Interior Features

Cooling None Cooling YN No Heating Natural GasSee Remarks Heating YN Yes

Property Features

Association Fee 0 Cap Rate 3.5 Gross Scheduled Income 192000 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 190000 Senior Community YN No Tenant Pays ElectricityGas Zoning R3 & R4

Listing provided courtesy of Ava Khamooshi of Txr Homes and Sharlot Arabshahi of Txr Homes


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T14:29:29.19. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
 
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Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
23670 Hawthorne Blvd. #100
Torrance CA, 90505