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512-514 W Juniper St

San Diego, CA 92101
  • $1,995,000
  • STATUS: PENDING
  • ON SITE: 19 Days
  • ID#: 240006718
Pending
$1,995,000
  • 6
    BEDS
  • 0.11
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1939
County:

School Ratings & Info

Description

Situated on the Westernmost corner of Banker's Hill, one short block from the world famous dining and nightlife of Little Italy, lies one of the best multi-family opportunities in San Diego! This 4-unit property is easily converted to 6 units with highly desirable RM-3-7 zoning & conversion plans pending! Property consists of two structures, each containing top/bottom unit formats. The Eastern structure consists of a highly upgraded 3 bed/1 bath main house with 1930's charm and excellent curb appeal. Below, a turnkey, furnished 1 bed/1 bath STVR (furnishings convey!). Adjacent is a 550 sq ft storage room, prime for easily adding a 5th unit. The Western structure consists of a 2 bed/1 bath unit above & large studio below, as well as two single-bay garage bays adjacent, easily converted to a 6th unit. Three electric and two water meters. South/West-facing corner lot orientation full of natural light and multiple access points for tenants. Easy 6+ cap as it exists that can be brought well over 10 with an easy conversion. Tenants are on month to month or STVR for easy access/lease terms with maximum flexibility. This corner is one block and one world away from Little Italy. It has a peaceful suburban neighborhood feel, yet is mere steps away from the culinary and nightlife epicenter of SD. The San Diego Metro market is among the most competitive in the nation. Here is an opportunity that has incredible upside potential & can fetch above market rental returns starting today. Recent $2,200,000 appraisal available upon request! This longterm hold is a rental portfolio must have! Situated on the Westernmost corner of Banker's Hill, one short block from the world famous dining and nightlife of Little Italy, lies one of the best multi-family opportunities in San Diego! This 4-unit property is easily converted to 6 units with highly desirable RM-3-7 zoning & conversion plans pending! Property consists of two structures, each containing top/bottom unit formats. The Eastern structure consists of a highly upgraded 3 bed/1 bath main house with 1930's charm and excellent curb appeal. Below, a turnkey, furnished 1 bed/1 bath STVR (furnishings convey!). Adjacent is a 550 sq ft storage room, prime for easily adding a 5th unit. The Western structure consists of a 2 bed/1 bath unit above & large studio below, as well as two single-bay garage bays adjacent, easily converted to a 6th unit. Three electric and two water meters. South/West-facing corner lot orientation full of natural light and multiple access points for tenants. Easy 6+ cap as it exists that can be brought well over 10 with an easy conversion. Tenants are on month to month or STVR for easy access/lease terms with maximum flexibility. This corner is one block and one world away from Little Italy. It has a peaceful suburban neighborhood feel, yet is mere steps away from the culinary and nightlife epicenter of SD. The San Diego Metro market is among the most competitive in the nation. Here is an opportunity that has incredible upside potential & can fetch above market rental returns starting today. Recent $2,200,000 appraisal available upon request! This longterm hold is a rental portfolio must have!

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
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512-514 W Juniper St San Diego, CA 92101

  • Price: $1,995,000
  • Status: PENDING
  • On Site: 19 Days
  • ID#: 240006718
6
Beds
4
Baths
0
½ Baths
0.11
Acres
1939
Built
Neighborhood:
Banker's Hill
County:
San Diego
Area:
San Diego Downtown (92101)
Property Description
Situated on the Westernmost corner of Banker's Hill, one short block from the world famous dining and nightlife of Little Italy, lies one of the best multi-family opportunities in San Diego! This 4-unit property is easily converted to 6 units with highly desirable RM-3-7 zoning & conversion plans pending! Property consists of two structures, each containing top/bottom unit formats. The Eastern structure consists of a highly upgraded 3 bed/1 bath main house with 1930's charm and excellent curb appeal. Below, a turnkey, furnished 1 bed/1 bath STVR (furnishings convey!). Adjacent is a 550 sq ft storage room, prime for easily adding a 5th unit. The Western structure consists of a 2 bed/1 bath unit above & large studio below, as well as two single-bay garage bays adjacent, easily converted to a 6th unit. Three electric and two water meters. South/West-facing corner lot orientation full of natural light and multiple access points for tenants. Easy 6+ cap as it exists that can be brought well over 10 with an easy conversion. Tenants are on month to month or STVR for easy access/lease terms with maximum flexibility. This corner is one block and one world away from Little Italy. It has a peaceful suburban neighborhood feel, yet is mere steps away from the culinary and nightlife epicenter of SD. The San Diego Metro market is among the most competitive in the nation. Here is an opportunity that has incredible upside potential & can fetch above market rental returns starting today. Recent $2,200,000 appraisal available upon request! This longterm hold is a rental portfolio must have! Situated on the Westernmost corner of Banker's Hill, one short block from the world famous dining and nightlife of Little Italy, lies one of the best multi-family opportunities in San Diego! This 4-unit property is easily converted to 6 units with highly desirable RM-3-7 zoning & conversion plans pending! Property consists of two structures, each containing top/bottom unit formats. The Eastern structure consists of a highly upgraded 3 bed/1 bath main house with 1930's charm and excellent curb appeal. Below, a turnkey, furnished 1 bed/1 bath STVR (furnishings convey!). Adjacent is a 550 sq ft storage room, prime for easily adding a 5th unit. The Western structure consists of a 2 bed/1 bath unit above & large studio below, as well as two single-bay garage bays adjacent, easily converted to a 6th unit. Three electric and two water meters. South/West-facing corner lot orientation full of natural light and multiple access points for tenants. Easy 6+ cap as it exists that can be brought well over 10 with an easy conversion. Tenants are on month to month or STVR for easy access/lease terms with maximum flexibility. This corner is one block and one world away from Little Italy. It has a peaceful suburban neighborhood feel, yet is mere steps away from the culinary and nightlife epicenter of SD. The San Diego Metro market is among the most competitive in the nation. Here is an opportunity that has incredible upside potential & can fetch above market rental returns starting today. Recent $2,200,000 appraisal available upon request! This longterm hold is a rental portfolio must have!
Exterior Features

Exterior AdobeStucco Fencing Partial Frontage N/K Irrigation AutomaticDrip Parking Garage Desc Unit1 Assigned Parking Garage Desc Unit2 Assigned Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Roof CompositionTile/Clay Site Corner Lot Topography Other/Remarks Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard Yes Unit4 Exclusive Use Yard Yes Units With Garages 2 Units With Patios 4

Interior Features

Cooling Wall/Window Furnished Units 2 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Radiant Heat Source Electric Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups Common Unit2 Laundry Hook Ups Common Unit3 Laundry Hook Ups Common Unit4 Laundry Hook Ups Common Units With Cooling 4 Units With Dishwashers 4 Units With Dryers 0 Units With Fireplaces 1 Units With Range Oven 4 Units With Refrigerators 4 Units With Washers 0 Water Heater Type Gas

Property Features

Actual Cap Rate 6.16 Age Restrictions N/K Annual Expense Actual 25000 Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community MIDDLETOWN Complex Features Laundry Facilities Complex Park Banker's Hill Four Cross Streets Union St Gross Rent Multiplier Actual 13.4 Gross Rent Multiplier Project 10.7 Gross Scheduled Income Actual 148800 Gross Scheduled Income Project 186000 Home Owners Assoc Fee Includes N/K Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Metro Central Miscellaneous N/K Monthly Total Fees 0 Other Fee Type N/K Other Fees 0.0 Other Income Actual 0 Projected Cap Rate 9.32 Sales Restrictions Call Agent Security Other/Remarks Sewer Septic Sewer Connected Short Sale No Tenant Pays SewerCable TVElectricityGas/PropaneHot Water Terms CashConventional Unit Number For Unit1 2306 Unit1 Deposit 4800 Unit1 Occupied Tenant Unit1 Projected Rent 6000.0 Unit1 Rent Actual 4800.0 Unit2 Deposit 4800 Unit2 Occupied Tenant Unit2 Projected Rent 3000.0 Unit2 Rent Actual 3000.0 Unit3 Deposit 3000 Unit3 Occupied Tenant Unit3 Projected Rent 4000 Unit3 Rent Actual 3000.0 Unit4 Deposit 2000 Unit4 Occupied Tenant Unit4 Projected Rent 2500 Unit4 Rent Actual 2000.0 Zoning RM-3-7

San Diego MLS logo Listing provided courtesy of Lee Shaprut of Berkshire Hathaway HomeServices California Properties: 858-888-5251. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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