Price reduced! Charming, renovated 1939 triplex. Downtown/Bay views. Extremely well-located at the junction of highly desirable Middletown, Mission Hills, and Bankers Hill. May be possible for owner-occupant - call for details. 2 structures. 5,621 SF corner parcel. Front is a 2bed/2bath turnkey house est. @ 1,100 SF w/ private side covered porch with exclusive Downtown and bay views. Interior has been tastefully renovated - all new kitchen/baths, lighting, flooring, paint, SS appliances, cabinets. Rented to long-term tenant at $4.5K/month. Rear 2-story duplex w/ (2) 1bed/1bath units, est. @ 500 SF each, rented to month-month tenants. These units have been recently refreshed but are primed for further upgrades + rent upside. Tenants enjoy private fenced front/side yard areas for additional outdoor relaxation/BBQ space. Newer windows, electrical upgrades, newer mini-split HVAC systems, and exterior landscaping upgrades with new fencing, paint, and drought-tolerant plants. 2 carports offering at least 3 off-street parking spaces and a common-area laundry room for additional income. All units have some views of either Downtown, the Bay or both. Zoned RM-2-5; base density of 1 unit/1,500 SF of land. Complete Communities (Tier 3/6.5x FAR) and Transit Priority Area Overlay zones, both of which lend significant density bonus potential and reduced parking requirements in this prized, coastal location. Fantastic long-term opportunities for investors and developers to explore significant high-density development options. Seller has confirmed any preexisting historical restrictions can be waived; airport authority will allow up to 60’ max. new bldg. height, and has also completed a preliminary architect feasibility study for development of 20-40 multifamily units. Don’t miss this fantastic opportunity to acquire a value-add coastal asset with healthy current income and development potential in one of San Diego’s most desirable residential submarkets!
Property Type :
Residential Income
County :
San Diego
Style :
Residential Income
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ByOwner last updated this listing 05/14/2024 @ 09:12
MLS: PTP2400859
LISTED BY: Max Delbecq, Top Gun CRE
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
