Property Detail

Description

Situated on the Westernmost corner of Banker's Hill, one short block from the world famous dining and nightlife of Little Italy, lies one of the best multi-family opportunities in San Diego! This 4-unit property is easily converted to 6 units with highly desirable RM-3-7 zoning & conversion plans pending! Property consists of two structures, each containing top/bottom unit formats. The Eastern structure consists of a highly upgraded 3 bed/1 bath main house with 1930's charm and excellent curb appeal. Below, a turnkey, furnished 1 bed/1 bath STVR (furnishings convey!). Adjacent is a 550 sq ft storage room, prime for easily adding a 5th unit. The Western structure consists of a 2 bed/1 bath unit above & large studio below, as well as two single-bay garage bays adjacent, easily converted to a 6th unit. Three electric and two water meters. South/West-facing corner lot orientation full of natural light and multiple access points for tenants. Easy 6+ cap as it exists that can be brought well over 10 with an easy conversion. Tenants are on month to month or STVR for easy access/lease terms with maximum flexibility. This corner is one block and one world away from Little Italy. It has a peaceful suburban neighborhood feel, yet is mere steps away from the culinary and nightlife epicenter of SD. The San Diego Metro market is among the most competitive in the nation. Here is an opportunity that has incredible upside potential & can fetch above market rental returns starting today. Recent $2,200,000 appraisal available upon request! This longterm hold is a rental portfolio must have!