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$ 2,295,000
Est. payment /mo
New
1951 55 Hornblend St. San Diego, CA 92109
6,586 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 260024308SD
HOA Y/N No
Year Built 1977
Lot Size 6,586 Sqft
Property Description
Detached single-level 5BR/2BA house plus two townhomes, one block off Garnet Ave in Pacific Beach. Live in the front house and rent the back, or hold all three. 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. The front house (~1,150 sf) has a fireplace, fenced patio yard and 2-car driveway. In back, two mirror-image 2-story 2BR/1.5BA townhomes (~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.
Location
State CA
County San Diego
Area 92109 - Pacific Beach
Zoning R3
Interior
Heating Combination
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
Pool None
View Y/N No
Roof Type Composition
Private Pool No
Building
Story Multi/Split
Entry Level Multi/Split
Level or Stories Multi/Split
Others
Senior Community No
Tax ID 4240420700
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
Virtual Tour https://www.propertypanorama.com/instaview/snd/260024308
Listed by Monroe Herington eXp Realty of California Inc #01930053