1951-55 Hornblend St., San Diego, CA 92109
1951-55 Hornblend St., San Diego, CA 92109
1951-55 Hornblend St., San Diego, CA 92109
1951-55 Hornblend St., San Diego, CA 92109
1951-55 Hornblend St., San Diego, CA 92109
1951-55 Hornblend St., San Diego, CA 92109
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Lisa Prophet

Lisa Prophet

+1(714) 470-2853
$ 2,295,000
Est. payment | /mo

9 Beds

6 Baths

6,586 Sqft Lot

Save
$ 2,295,000
Est. payment | /mo
Save

9 Beds

6 Baths

6,586 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Pacific Beach

MLS Listing ID 260024308

Bedrooms 9

Full Baths 4

Half Baths 2

Year Built 1977

Lot Size 6,586 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Pacific Beach 3-unit with garage upside, one block off Garnet Ave. Current rents $16,000/mo ($192,000/yr), a 5.90% cap on a buyer's basis. Tenants pay water, sewer, trash, SDG&E and internet, and reimburse the City trash fee. Detached single-level 5BR/2BA front house (~1,150 sf) with fireplace, fenced patio yard and 2-car driveway. Two mirror-image 2-story 2BR/1.5BA townhomes in back (~1,000 sf each): living room open to above, eat-in kitchen and half bath downstairs, two bedrooms upstairs over the garage, private patio and an alley parking space for each. The value-add is the ~800 sf garage, with two paths. Path A: extend both rear units into the garage to make each a 4BR/2.5BA, est. $75K. At the front house's $1,580 per bedroom, that projects a 7.60% yield on price plus cost. Path B: convert the garage into a separate 3BR ADU at an est. $5,500/mo. Both keep all four off-street spaces and are subject to City of San Diego approval. Around the corner from Better Buzz Coffee and Garnet dining; ~1/3 mi to Trader Joe's and Mission Bay; ~1.3 mi to the beach at Crystal Pier. 6,586 sf lot, zoned CO-1-2. Full OM with financials, floor plans and renderings available on request.

Location

State CA

County San Diego

Community Bbq

Area Coastal South

Zoning R3

Interior

Heating Fireplace

Fireplace No

Exterior

Fence Partial

Utilities Available Sewer Connected

View Y/N No

Water Access Desc Meter on Property

Roof Type Composition

Building

Water Meter on Property

Others

Senior Community No

Tax ID 424-042-07-00

Acceptable Financing Cash, Conventional, VA

Listing Terms Cash, Conventional, VA

MLS Router / San Diego MLS
Listed by Monroe Herington, DRE#01930053 eXp Realty of California Inc 
Lisa Prophet

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 470-2853

lisa@lisa-prophet.com

1735 Reed Ave. #7, San Diego, California 92109, USA

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1951-55 Hornblend St.