Skip To Content

1478 Hornblend St

San Diego, CA 92109
  • $4,995,000
  • STATUS: ACTIVE
  • ON SITE: 61 Days
  • ID#: 230001102
UPDATED: 40 min ago
$4,995,000
  • 5
    BEDS
  • N/A
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

1478 Hornblend St will be delivered VACANT so you can immediately set market rents with no evictions. Approved plans and permits to convert the garages to (2) studio units, approx. 420 SF each, will transfer with the sale making this property 10 units total. This asset is currently operated as an 8-unit short-term vacation rental. Comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units. In addition, this property has two double garages facing the alley with plans approved by the city to add two ADU studio units. Currently one of the unit’s interiors has been recently renovated and the other seven recently refreshed. Exterior renovations include new paint, dual pane vinyl windows, and drought tolerant landscaping. The property is currently fully furnished and rented as short-term vacation rentals. Investors may continue to operate as is, rent as monthly rentals, or continue renovating the property increasing rents even further.

Monthly Payment Calculator

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 © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.sandiegoareahomesforsale.co/homes/136108894
Print Image

1478 Hornblend St San Diego, CA 92109

  • Price: $4,995,000
  • Status: ACTIVE
  • On Site: 61 Days
  • Updated: 40 min ago
  • ID#: 230001102
5
Beds
3
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
1478 Hornblend St will be delivered VACANT so you can immediately set market rents with no evictions. Approved plans and permits to convert the garages to (2) studio units, approx. 420 SF each, will transfer with the sale making this property 10 units total. This asset is currently operated as an 8-unit short-term vacation rental. Comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units. In addition, this property has two double garages facing the alley with plans approved by the city to add two ADU studio units. Currently one of the unit’s interiors has been recently renovated and the other seven recently refreshed. Exterior renovations include new paint, dual pane vinyl windows, and drought tolerant landscaping. The property is currently fully furnished and rented as short-term vacation rentals. Investors may continue to operate as is, rent as monthly rentals, or continue renovating the property increasing rents even further.
Interior Features

Sq Ft Of Improvement 5120

Property Features

Actual Cap Rate 4.35 Actual Gross Scheduled Income 307800.0 Actual Operating Expense 92793 Assumable Finance 0 Buildings 1 Gross Equity 4995000 Gross Multiplier 16.23 Have 8 Units Mandatory Remarks None Known Market Area Coastal South Motive Want To Sell Projected Cap Rate 5.25 Projected Gross Multiplier 13.97 Short Sale No Unit Number1 1 Unit Number2 2 Unit Number3 5 Unit Rent1 3900 Unit Rent2 3750 Unit Rent3 2850

San Diego MLS logo Listing provided courtesy of Marcus & Millichap: [IDXCONTACTINFORMATION]. Listing information © 2023 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 © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230001102-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230001102-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230001102-2.jpg
Logo
Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128