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$ 1,997,000
Est. payment | /mo
5,196 Sqft Lot
$ 1,997,000
Est. payment | /mo
5,196 Sqft Lot
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Mission Hills
MLS Listing ID 260023522SD
HOA Y/N No
Year Built 1949
Lot Size 5,196 Sqft
Property Description
Download the attached 15 page OM for additional information about this property! This attractive fourplex consisting of ample-sized two-bedroom units. The attractive property benefits from well executed building updates while still retaining desirable Mid-Century elements. The location at the southwest corner of Eagle Street and West Pennsylvania Avenue is tucked within an enclave primarily consisting of single-family homes. This quiet location is well north of the Lindbergh Field flight past and just south of the Mission Hills neighborhood retail district. The long-time owners have installed an updated main electrical panel, mini-split air conditioning units, dual-pane windows and recently completed full exterior painting. The classic kitchens include original Mid-Century two-tone tile counters. Other Mid-Century features include hardwood floors. This is a rare opportunity for an investor to acquire a building in a high caliber Mission Hills location. See Supplement regarding investment upside INVESTMENT UPSIDE: The long-time owner has operated the property with a primary emphasis on minimizing resident turnover. This presents an opportunity for a new owner to enhance rental revenues over time with or without additional capital improvements. The rental upside is approximately 22%. This includes renting the two-car garage that has been used by the owners for storage. Because the current owners have completed capital replacement work over time, a buyer need not feel pressure to undertake major property renovations. These will be optional based on the buyer's requirements and investment plans. A buyer who is so inclined can upgrade unit interiors as units turn-over. Updating the kitchens and baths will significantly re-position the units up-market. This can be accomplished in an appropriate period style to avoid detracting from the Mid-Century ambiance. Installing in-unit laundry equipment might prove to be an economically viable option. While the ample-size floor plans are very livable as-is, a more adventurous investor might elect to enhance the perceived size of the units by partially opening the partition wall between the kitchens and living area.
Location
State CA
County San Diego
Area 92103 - Mission Hills
Building/Complex Name none
Interior
Heating Combination, Electric
Cooling Heat Pump
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 4512722600
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Robert Vallera Vallera Investment Properties #00818308
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