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1478 Hornblend St
Coastal South San Diego 92109

$4,995,000 /499500.0
Com-Res Income built: 1969

Main Photo: Property for sale: 1478 Hornblend St in San Diego
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Status:
Active
Prop. Type:
Com-Res Income
MLS® Num:
220027677
Year Built:
1969
1478 Hornblend St will be delivered VACANT so you can immediately set market rents with no evictions. Approved plans and permits to convert the garages to (2) studio units, approx. 420 SF each, will transfer with the sale making this property 10 units total. This asset is currently operated as an 8-unit short-term vacation rental. *6.24% cap rate is based on current short-term vacation rentals. Call or email for more details. Comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units, this property has two double garages facing the alley that can be converted into (2) ADU studio units. One of the unit’s interiors was highly renovated and the other seven were lightly remodeled in 2022. The property is fully furnished and can convey with the sale. Investors may continue to operate as is, rent on annual leases, or further improve the property increasing rents even further.
Price Per Unit:
499500.0
County:
San Diego
Market Area:
Coastal South
Number of Buildings:
1
Number of Units:
10
Num Stories:
2
Year Built:
1969
Cap Rate.:
6.24
Gross Multiplier:
8.52
Gross scheduled income:
586224.0
Operating expense:
163230
Gross equity:
4995000
Motive / Want:
To Sell
Short Sale:
No
Listing Type:
Exclusive Right (R)
Parcel Number:
423-092-10-00
Number of Units in Unit 1:
1
Bedrooms for Unit 1:
2
Bathroom 1:
1.0
Number of Units in Unit 2:
2
Bedrooms for Unit 2:
2
Bathroom 2:
1.0
Number of Units in Unit 3:
5
Bedrooms for Unit 3:
1
Bathroom 3:
1.0
Number of Units in Unit 4:
2
Bedrooms for Unit 4:
0
Bathroom 4:
1.0
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Listed by Marcus & Millichap
Data was last updated November 29, 2022 at 01:10 AM (UTC)
Area Statistics
Listings on market:
11
Avg list price:
$3,900,000
Min list price:
$2,500,000
Max list price:
$18,000,000
Avg days on market:
69
Min days on market:
20
Max days on market:
518
Avg price per sq.ft.:
$616.12
These statistics are generated based on the current listing's property type and located in Coastal South. Average values are derived using median calculations.
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 Multiple Listing Service, Inc. 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 © 2022 San Diego Multiple Listing Service, Inc.