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JCL Properties - James Lawson, Broker
1951-55 Hornblend St, Pacific Beach/Mission Beach, CA 92109
- $2,295,000
- 9
- BD
- 6
- BA
- List Price
- $2,295,000
- Days on Market
- 0
- Status
- ACTIVE
- MLS#
- 260024308
- Bedrooms
- 9
- Bathrooms
- 6
- Lot Size(apprx.)
- 6,586
- City
- Pacific Beach/Mission Beach
- Neighborhood
- Pacific Beach
- Complex/Building Name
- N/A
- Property Type
- Multifamily
- Year Built
- 1977
Property Description
Pacific Beach 3-unit with garage upside, one block off Garnet Ave. Current rents $16,000/mo ($192,000/yr), a 5.90% cap on a buyer's basis. Tenants pay water, sewer, trash, SDG&E and internet, and reimburse the City trash fee. Detached single-level 5BR/2BA front house (~1,150 sf) with fireplace, fenced patio yard and 2-car driveway. Two mirror-image 2-story 2BR/1.5BA townhomes in back (~1,000 sf each): living room open to above, eat-in kitchen and half bath downstairs, two bedrooms upstairs over the garage, private patio and an alley parking space for each. The value-add is the ~800 sf garage, with two paths. Path A: extend both rear units into the garage to make each a 4BR/2.5BA, est. $75K. At the front house's $1,580 per bedroom, that projects a 7.60% yield on price plus cost. Path B: convert the garage into a separate 3BR ADU at an est. $5,500/mo. Both keep all four off-street spaces and are subject to City of San Diego approval. Around the corner from Better Buzz Coffee and Garnet dining; ~1/3 mi to Trader Joe's and Mission Bay; ~1.3 mi to the beach at Crystal Pier. 6,586 sf lot, zoned CO-1-2. Full OM with financials, floor plans and renderings available on request.
Additional Information
- Building Name
- N/A
- Cooling
- None
- Heating
- Fireplace
- Lot Size
- 6,586
- Neighborhood
- Pacific Beach
- Pets Allowed
- Yes
- Roof
- Composition
- Tenant Pays
- Sewer, Trash, Water, Cable TV, Electricity, Gas/Propane, Hot Water
- Year Built
- 1977
Mortgage Calculator
Listing courtesy of Listing Agent: Monroe Herington (619-929-6546) from Listing Office: eXp Realty of California Inc.
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