$1,800,000
$2,000,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 12/14/2018
Key Details
Sold Price $1,800,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Mission Hills
MLS Listing ID 180060019
Sold Date 12/14/18
HOA Y/N No
Year Built 1927
Property Description
Prime Investment Opportunity is thriving Mission Hills with Mills Act tax benefits to begin in 2019. Built in value add for new owner with ability to increase rents in 2019.Over $300,000 in restoration and renovations over the past 12 months completed by Jonathan Segal, renowned local architect. Current cap = 4.12% • With Mills Act Prop Tax Savings Cap = 4.42% • Rental Increase Cap = 4.78% • subject property is considered a 4 unit Multi-Family and an additional garage conversion studio rented at $1220 • Mills Act Property Tax Savings starting 2019 • Upscale Mission Hills location • Quality income stream • Public tennis courts next door • Walkable Neighborhood • Qualifies for 4 unit financing, has additional 5th unit garage conversion income Neighborhoods: Mission Hills Exterior: Wood/Stucco Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 4034 Unit # for Unit 2: 4034 1/2 Unit # for Unit 3: 4032 Unit # for Unit 4: 4030 Number of Furnished Units: 0 Topography: GSL
Location
State CA
County San Diego
Area 92103 - Mission Hills
Zoning RS 1-7
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
Pool None
Roof Type Rolled/Hot Mop
Private Pool No
Building
Lot Description Drip Irrigation/Bubblers
Story 1
Entry Level One
Level or Stories One
Others
Tax ID 4436630900
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with Lisa Mortensen • James L. Scott, Broker
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