2860-2862 State St. San Diego, CA 92103
UPDATED:  
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1990000
/mo

5Beds

4Baths

1850SqFt

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Key Details

Property Type: Multi-Family

Lot Size: 5,624 Sqft

Year Built: 1979

Purchase Type: For Sale

Listing Status: Active

MLS Listing ID: 190038177

Price per Sqft: $1,075

Full Baths: 3

Half Baths: 1

Property Description

INCREDIBLE combined investment property and Business Opportunity!!! Rare FULLY UPGRADED huge duplex in the heart of San Diego’s coveted Mission Hills neighborhood. Unmatched Panoramic Views of the San Diego Harbor, the Bay, Downtown, and Coronado Island!! Everything is updated inside: from the contemporary bathrooms to the gleaming gourmet kitchens outfitted with top-of-the-line appliances to the airport approved acoustic windows and ductless A/C units throughout.
What sets this property apart is the Business Opportunity that comes with the sale – a fully compliant short-term vacation rental business with a solid track record of profitability. Gross revenue for both units exceed traditional rental units by nearly 3 times. YOY Gross revenue was up over 30% in 2018 and is on track to be up again in 2019!! The one-of-a-kind property was recently featured on the Travel Channel’s “Top Vacation Rental Destinations in San Diego.” It can be rented as an individual 2bd and a 3bd, or as a combined 5bd luxury villa. The property also comes with a nearly approved set of plans to construct an additional 1633 square foot 3rd story, consisting of 3 beds, 2 baths, and a 326 sq ft panoramic deck with Jacuzzi. New unit should generate and additional $80k in revenue. Only selling because owners need some cash. The current Property Management company is so confident in its turnkey system, it has agreed to offer a 1 YEAR GROSS REVENUE GUARANTEE to new owners beginning at close of escrow. Absolutely unheard of!

Location

State: CA

County: San Diego

Community: Mission Hills

Area: Mission Hills (92103)

Multi-Unit Info

Total Units: 2

Buildings: 1

Unit 1 Information: SqFt: 1850; Bedroom: 3; Bathroom: 2; FullBath: 2; Occupancy: Tenant

Unit 2 Information: SqFt: 1300; Bedroom: 2; Bathroom: 2; FullBath: 1; HalfBath: 1; Occupancy: Tenant

Interior

Heating: Electric,Natural Gas

Cooling: Central Forced Air,Zoned Area(s)

Exterior

Exterior Feature: Stucco

Garage: Unit1:Attached Unit2:Attached

Garage Spaces: 3.0

Fence: Full

Community Features: Spa/Hot Tub

Complex Features: Spa/Hot Tub

View: Bay,City,Evening Lights,Ocean,Panoramic,Panoramic Ocean

Roof Type: Tile/Clay

Building

Story: 2 Story

Lot Size Range: 4000-7499 SF

Sewer: Sewer Connected

Water: Meter on Property

Schools

Elementary Schools: Florence Elementary School,Washington Elementary School,Dana Middle School,Grant School

Middle Schools: Correia Middle School,Grant School,Roosevelt Middle School

High Schools: Point Loma High School,San Diego High School Of International Studies,San Diego High School Of Media, Visual And Performing Arts

School District: San Diego City Unified School District

Others

Senior Community: no

Acceptable Financing: Cash,Conventional

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Listing Provided By Jim Tyner (CA BRE #01803901) of Home Solutions Group

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Nearby School & Properties

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    Reina Acuna Keller Williams Realty
    Reina Acuna

    Agent CA BRE # 01765375

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