$1,900,000
PENDING

Estimated payment $12,232/month

Total Views 12,265
4 Beds
3 Baths
1,904 Sq Ft
$998 Price per Sq Ft

Highlights

  • Property is near public transit
  • Private Yard
  • Laundry Room
  • Corner Lot
  • No HOA
  • No Heating

About This Home

A rare redevelopment opportunity across the freeway from Downtown San Diego!!! Two adjacent parcels on the corner of 19th & E Street totaling 9,531 square feet (.22 Acres) of lot space. One parcel includes Three detached cottage units that each feature their own private entry and garage/storage unit. The other parcel is open land that backs to the on ramp of the interstate 5 and 94. The property is zoned RM-2-5, which permits up to Seven units without any density bonus; but more importantly the property is situated in the Complete Communities Tier 3, which permits an FAR of 6.5x the total lot (potential for 61,951.5 square feet). This is a true value-add and redevelopment opportunity that will allow a new owner to build in an area that needs more housing and will have views of Downtown San Diego and Coronado.

Listing Agent

Joseph Bonin

SVN Vanguard License #00801397 Listed on: 02/01/2023

SVN Vanguard

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 9,531 Sq Ft Lot
  • No Common Walls
  • Corner Lot
  • Level Lot
  • Private Yard
  • Back Yard
  • Density is up to 1 Unit/Acre
  • 5343740600

Parking

  • 3 Open Parking Spaces
  • 3 Car Garage

Interior Spaces

  • 1,904 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Washer Hookup

Utilities

  • No Heating
  • Sewer Paid

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tax Lot 534
  • Tax Tract Number 374
  • Assessor Parcel Number 5343740100

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,892
  • New Taxes Expense $23,110
  • Operating Expense $32,718
  • Gross Income $60,540
  • Net Operating Income $26,006

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Parking

3

Listing Details

  • Assessments: No
  • CapRate: 1.37
  • Price Per Unit: 633333
  • Property Attached: No
  • View: No
  • Zoning: RM-2-5 & Complete Communities Overlay...
  • Property Type: Residential Income
  • Parcel Number: 5343740100
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: No Common Walls
  • Appliances: No
  • Price Per Square Foot: 997.90

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: No
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 3.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 5343740600
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Back Yard, Corner Lot, Level with Street, Near Public Transit, Yard
  • Lot Size Sq Ft: 9531.00
  • Lot Size Acres: 0.2188

Multi Family

  • Gross Income: 60540.00
  • Gross Scheduled Income: 60540.00
  • Insurance Expense: 1892.00
  • Lot Size Area: 9531.0000 Square Feet
  • Net Operating Income: 26006.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 32718.00
  • Rent Control: No
  • Total Actual Rent: 5045.00
  • Total Expenses: 32718.00

Tax Info

  • New Taxes Expense: 23110.00
  • Tax Lot: 534
  • Tax Tract Number: 374

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/29/2023 03/29/23 Pending -- -- --
02/01/2023 02/01/23 For Sale $1,900,000 +171.8% $998 / Sq Ft
09/02/2015 09/02/15 Sold $699,000 0.0% $366 / Sq Ft
08/02/2015 08/02/15 Pending -- -- --
07/20/2015 07/20/15 For Sale $699,000 +12.9% $366 / Sq Ft
12/31/2013 12/31/13 Sold $619,000 -1.7% $251 / Sq Ft
12/30/2013 12/30/13 Pending -- -- --
11/11/2013 11/11/13 For Sale $630,000 -- $256 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2300476

California Regional Multiple Listing Service (CRMLS)

APN: 534-374-01-00