Joe McLaughlin / Broker Associate

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Main Photo: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 1: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 2: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 3: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 4: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 5: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 6: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 7: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 8: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 9: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 10: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 11: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 12: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 13: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 14: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 15: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 16: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Photo 17: HILLCREST Property for sale: 3612 - 3618 4th Ave. in San Diego
Status:
Active
Prop. Type:
2-4 Units
MLS® Num:
190011818
Year Built:
1920
3612 - 3618 4th Located in highly sought after Hillcrest, this 4-unit recently renovated property with exterior value add opportunity along with development potential. While currently rented at 100% occupancy, the 4 x 2 Bed, 1.5 Bath units are complemented with three parking garages, 5 assigned spaces and ample off-street parking. At over 10,000+ Sqft lot, developers have the potential to build upwards of 20 - 30 + units. Removal of the Historic Designation further offers endless upside potential.
Total Floor Area:
10,114 sq. ft.
Lot Size:
7,500-10,889 SF
Number of Buildings:
2
Number of Units:
4
Year Built:
1920
Stories:
2 Story
Total Stories:
2
Market Area:
Metro Uptown
Community:
HILLCREST
County:
San Diego
Neighborhood Code:
Hillcrest
Name of Complex/Subdivision:
NA
Mello Roos Fee:
0.0
Monthly Total Fees:
0.0
Other Fees:
0.0
Tenant pays:
Cable TV, Gas/Propane, Parking Fees
Projected net operating income:
148800
Other income:
3108
Projected other income:
6000
Annual expense actual:
38167
Projected annual expense:
43625
Cap Rate.:
4.12
Projected Cap Rate.:
4.36
Gross Rent Multiplier:
17.74
Gross scheduled income:
133800
Projected gross scheduled income:
142800
Unit Number for Unit 1:
3612
Finished Area for Unit 1:
1,324 sq. ft.
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
1
Full Bathrooms for Unit 1:
1
Half Bathrooms for Unit 1:
0
Deposit for Unit 1:
1000.0
Total Rent for Unit 1:
2400.0
Projected Rent for Unit 1:
2650.0
Garage for Unit 1:
Assigned
Parking for Unit 1:
Uncovered
Unit 1 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 1:
Common
Unit Number for Unit 2:
3614
Finished Area for Unit 2:
1,324 sq. ft.
Bedrooms for Unit 2:
2
Number of bathrooms for Unit 2:
1
Full Bathrooms for Unit 2:
1
Half Bathrooms for Unit 2:
0
Deposit for Unit 2:
1500.0
Total Rent for Unit 2:
2500.0
Projected Rent for Unit 2:
2650.0
Garage for Unit 2:
Assigned
Parking for Unit 2:
Uncovered
Unit 2 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 2:
Common
Unit Number for Unit 3:
3616
Finished Area for Unit 3:
1,446 sq. ft.
Bedrooms for Unit 3:
2
Number of bathrooms for Unit 3:
1
Full Bathrooms for Unit 3:
1
Half Bathrooms for Unit 3:
0
Deposit for Unit 3:
750.0
Total Rent for Unit 3:
3300.0
Projected Rent for Unit 3:
3350.0
Garage for Unit 3:
Assigned
Parking for Unit 3:
Uncovered
Unit 3 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 3:
Common
Unit Number for Unit 4:
3618
Finished Area for Unit 4:
1,446 sq. ft.
Bedrooms for Unit 4:
2
Number of bathrooms for Unit 4:
2
Full Bathrooms for Unit 4:
1
Half Bathrooms for Unit 4:
1
Deposit for Unit 4:
2900.0
Total Rent for Unit 4:
2950.0
Projected Rent for Unit 4:
3300.0
Garage for Unit 4:
N/K
Parking for Unit 4:
Uncovered
Unit 4 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 4:
Common
Removal of historic designation • Opportunity to own four-unit multi-family • with over $250,000 in recent upgrades • Great development opportunity: build •17 to 26 units using 50% density bonus • May be able to achieve 100% density • bonus to improve overall development opportunity • 100% occupied with high quality tenants Off-street parking No rent control Just steps from all Hillcrest has to offer Walking distance from Downtown, Balboa Park and minutes to Mission Valley Feasibility study (available on request)
Brookes Ave
Site Influences:
Alley Access, Curbs, Public Street, Sidewalks, Street Paved
Exterior Features:
Wood
View:
N/K
Cooling:
Swamp Cooler(s)
Heating:
N/K
Heating fuel:
Natural Gas
Number of Units with Cooling:
4
Number of Units with Dishwashers:
4
Number of Units with Dryers:
0
Number of Units with Fireplaces:
2
Number of Furnished Units:
0
Number of Units with Garages:
3
Number of Units with Patios:
0
Number of Units with Range/Oven:
4
Number of Units with Refrigerators:
4
Number of Units with Washers:
4
Pool:
N/K
Roof:
Composition
Water district:
CITY OF SAN DIEGO
Water Heater Type:
Gas
Water supply:
Meter on Property
Security:
N/K
Fencing:
Partial
Topography:
Level
Short Sale:
No
Listing Type:
Exclusive Right (R)
Age Restrictions:
N/K
Sales Restrictions:
N/K
Terms:
Cash, Conventional, Exchange
Parcel Number:
452-285-17-00
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Larger map options:
Data was last updated May 25, 2019 at 03:45 PM (UTC)
Area Statistics
Listings on market:
96
Avg list price:
$998,500
Min list price:
$439,900
Max list price:
$3,350,000
Avg days on market:
41
Min days on market:
1
Max days on market:
380
Avg price per sq.ft.:
$171.43
These statistics are generated based on the current listing's property type and located in Metro Uptown. Average values are derived using median calculations.