Listing ID210025981
Sold For$1,630,000
StatusSOLD
CountySan Diego
Year Built1980
Property Type2-4 Units
4338-40 39th St is a four unit property consisting of one 1,100 SF 3 bed/2 bath house in the front, three huge 650 SF 1 bed/1 bath units in the back, and four single car garages facing the alley. This property lies above El Cajon Blvd in the Normal Heights neighborhood of Central San Diego. The owner has just renovated one of the one bedroom units upstairs and has a tenant ready to rent the unit at $1800/mo. A new owner has the opportunity to also convert the four garages in the back into multiple ADU's for immediate upside in value and extra cash flow or demo the front structure and add 5 units in exchange for 1 affordable unit, or break up the large 3-bed into two units. The owner recently renovated the interiors in that front house a few years ago. The property has a new water heater, the front house has new copper piping, no issues with the roof or structure, and the main plumbing line was replaced with new ABS pipes.
County
San Diego
City
San Diego
Property Type
2-4 Units
Year Built
1980
Cooling
Wall/Window
Heat Equipment
Radiant
Heat Source
Electric, Natural Gas
Levels
2 Story
Total Stories
2
Unit 1 Estimated SqFt
650
Unit 1 Laundry Hook Ups
No
Unit 1 Number of Bedrooms
1
Unit 1 Number of Full Baths
1
Unit 1 Number Total Baths
1
Unit 2 Estimated SqFt
650
Unit 2 Laundry Hook Ups
No
Unit 2 Number of Bedrooms
1
Unit 2 Number of Full Baths
1
Unit 2 Number Total Baths
1
Unit 3 Estimated SqFt
650
Unit 3 Laundry Hook Ups
No
Unit 3 Number Bedrooms
1
Unit 3 Number of Full Baths
1
Unit 3 Number Total Baths
1
Unit 4 Estimated SqFt
1200
Unit 4 Laundry Hook Ups
Yes
Unit 4 Number of Bedrooms
3
Unit 4 Number of Full Baths
1
Unit 4 Number of Half Baths
1
Unit 4 Number Total Baths
2
Unit Number for Unit 1
A
Unit Number for Unit 2
B
Unit Number for Unit 3
C
Unit Number for Unit 4
House
Complex Features
BBQ
Entry Only
no
Exterior
Stucco
Fencing
Cross Fencing
Lot Size
4,000-7,499 SF
Neighborhood
Normal Heights
Number of Buildings
2
Number of Units
4
Number of Units w/Dryers
1
Number of Units w/Fireplaces
1
Number of Units w/Garage
4
Number of Units w/Patios
4
Number of Units w/Range/Oven
4
Number of Units w/Refrigerator
4
Number of Units w/Washers
1
Number Units w/Dishwashers
4
Parking Garage Unit 1
Assigned
Parking Garage Unit 2
Assigned
Parking Garage Unit 3
Assigned
Parking Garage Unit 4
Assigned
Parking Non-Garage Unit 1
Assigned
Parking Non-Garage Unit 2
Assigned
Parking Non-Garage Unit 3
Assigned
Parking Non-Garage Unit 4
Assigned
Roof
Composition
Sewer/Septic
Sewer Connected
Site
Sidewalks
Water Heater Type
Electric, Gas
Community
NORMAL HEIGHTS
Complex/Park
Complex
Country
United States
Market Area
Metro Uptown
Zip/Area
EAST SAN DIEGO (92105)
Property Type
2-4 UNITS
Age Restrictions
N/K
Annual Expense Actual
14825
Cap Rate Actual
3.75
Cap Rate Projected
10
Financing
VA
Gross Rent Multiplier Act
19
Gross Rent Multiplier Projected
12
Gross Scheduled Income Actual
78964
Gross Scheduled Income Projected
127200
Home Owners Fee Includes
Water
Other Income Actual
2400
Sale/Rent
For Sale
Sales Restrictions
N/K
Short Sale
no
Tenant Pays
Electricity, Gas/Propane
Terms
Cash, Conventional, Exchange
Unit 1 Deposit
600
Unit 1 Projected Rent
1800
Unit 1 Rent Actual
1290
Unit 2 Deposit
1775
Unit 2 Projected Rent
1775
Unit 2 Rent Actual
1775
Unit 3 Deposit
600
Unit 3 Projected Rent
1775
Unit 3 Rent Actual
1290
Unit 4 Deposit
2000
Unit 4 Projected Rent
3200
Unit 4 Rent Actual
2000
Contact - Listing ID 210025981
Lawrence Dy
11440 W. Bernardo Ct #300
San Diego, CA 92127
Phone: 8584491253
Phone Alt: 8584491253
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