4109 3rd Avenue
San Diego, CA 92103

$2,349,000

Description

Variance Granted for Commerical: Ofc/Rtl/Ind. Duplicate 2-4 unit listing #180063329. Mixed use. Zoning CC-3-8 high density-1 unit per 600sf-100 foot height limit. Potential future land bank or continue as apt, office, medical, dental, etc. 3 of 4 units completely renovated. New kitchens, baths, upgraded flooring, fresh interior texture/paint, upgraded windows, newer roof/stucco, 3 new FAU and A/C units, upgraded electrical panel/outlets, etc.. 3 of 4 units completely furnished with high end finishes/furnishings negotiable Current short-term rental income ~$220,000 with 4 apartments projected. Actual income includes long term tenant of ~20 yrs with significant below market rent. Actual income includes base rent + profit sharing with "super host" Airbnb mgmt. 3 of 4 units currently short term rentals w/gross income=~$185,000. If 4th apt. added projected income at ~$220,000 as 4 short term rentals. Projected cap off the chart at 7-8% w/in house mgmt. As 4 long term rentals, projections at $131,100 with 5% cap. Cooling: Central Forced Air Gas

Details

MLS#180064251
StyleIndustrial
Sub-TypeLease
StatusActive
Year1956
Days On Site12

Features

Story(s)0
Units4

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Area Information

StateCA
CountySan Diego
CitySan Diego
Zip Code92103
Listing VS Median (in 92103)
Price:
$2,349,000
low | high
Med:
$898,500
100% of Average
On Site:
12
low | high
Med:
12
100% of Average
Listing Updated: 03/23/2019
MLS Number: 180064251
Listing Provided By:
Dale Curtis  of  Glenbrook Advisors
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