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4403-13 44th Street

San Diego, CA 92115
  • $1,639,000
  • STATUS: ACTIVE
  • ON SITE: 68 Days
  • ID#: 230001488
UPDATED: 50 min ago
$1,639,000
  • 6
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
N/A
Type:
Multi-Family
Built:
1950
County:

School Ratings & Info

Description

The offering has a unique structure that consists of Two attached 1-Bedroom/1-Bath Bungalows, a 1-Bed/1-Bath Standalone Cottage, and a detached 3-Bed/1-Bath House totaling 2,568 rentable square feet. Select units have undergone recent improvements that include new bathroom vanities and hardwood flooring. The exterior has recently been updated with new garage doors, sewer lines, solar security lighting, fencing, and security doors. In addition to a desirable detached unit structure, which commands a rental premium compared to a traditional apartment building, the property features an income-generating leased laundry room, Four Single-Car Garages that are included in the rent, and a tuff shed storage unit that can be rented out for additional income. Through capitalizing on renting the aforementioned amenities at market along with renovating the units; an investor can achieve a +30% upside in gross income. To make this deal even more enticing, the property sits on a large 10,590 square foot (.24 Acres) lot, where there is the potential to convert the garages and additional space into Accessory Dwelling Units to maximize the future value and income at the site.

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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/136384757
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4403-13 44th Street San Diego, CA 92115

  • Price: $1,639,000
  • Status: ACTIVE
  • On Site: 68 Days
  • Updated: 50 min ago
  • ID#: 230001488
6
Beds
4
Baths
0
½ Baths
N/A
Acres
1950
Built
Neighborhood:
N/A
County:
San Diego
Area:
San Diego (92115)
Property Description
The offering has a unique structure that consists of Two attached 1-Bedroom/1-Bath Bungalows, a 1-Bed/1-Bath Standalone Cottage, and a detached 3-Bed/1-Bath House totaling 2,568 rentable square feet. Select units have undergone recent improvements that include new bathroom vanities and hardwood flooring. The exterior has recently been updated with new garage doors, sewer lines, solar security lighting, fencing, and security doors. In addition to a desirable detached unit structure, which commands a rental premium compared to a traditional apartment building, the property features an income-generating leased laundry room, Four Single-Car Garages that are included in the rent, and a tuff shed storage unit that can be rented out for additional income. Through capitalizing on renting the aforementioned amenities at market along with renovating the units; an investor can achieve a +30% upside in gross income. To make this deal even more enticing, the property sits on a large 10,590 square foot (.24 Acres) lot, where there is the potential to convert the garages and additional space into Accessory Dwelling Units to maximize the future value and income at the site.
Exterior Features

Exterior Stucco Fencing N/K Roof Composition Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 2 Units With Patios 0

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups Common Unit2 Laundry Hook Ups Common Unit3 Laundry Hook Ups Common Unit4 Laundry Hook Ups Common Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 0

Property Features

Actual Cap Rate 2.77 Age Restrictions N/K Annual Expense Actual 29367 Association ID San Diego Association Of Realtors (Sdar) Buildings 3 Cfd Mello Roos Fee 0.0 Community Talmadge Complex Park N/A Cross Streets Meade Ave & 44th St Gross Rent Multiplier Actual 21.89 Gross Scheduled Income Actual 75360 Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Other Fees 0.0 Other Income Actual 1964 Sales Restrictions Call Agent Security N/K Short Sale No Tenant Pays Cable TvElectricityGas/PropaneOther/Remarks Terms CashConventionalExchangeFhaOther/Remarks Unit Number For Unit1 4403 Unit Number For Unit2 4409 Unit Number For Unit3 4411 Unit Number4 4413 Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Rent Actual 1840.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Rent Actual 1480.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Rent Actual 1480.0 Unit4 Deposit 0 Unit4 Occupied Tenant Unit4 Rent Actual 1480.0

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.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128