The property located at 3289-3291 Ibis Street consists of 2 units located in San Diego, California. Following the completion of renovations, a 25-30% upside in rental income is projected. This property is located in the desirable Middletown/South Mission Hills neighborhood, in close proximity to Old Town, Bankers Hill, Balboa Park,… Read More Little Italy, and Downtown. Constructed in 1957, the property features two 1-bedroom/1-bathroom units, each approximately 480 SF (960 total SF) on a 3,487 SF lot. Additional amenities include a private backyard, epoxy coated concrete walkways, drought-resistant landscaping, laminate flooring, a recently upgraded pitched roof, and vinyl fencing. Furthermore, there is a value-add opportunity through the implementation of RUBS, enabling tenants to contribute to a portion of the utility expenses. The City of San Diego is recognized as one of the most robust rental markets in the county, with consistently high demand for apartment rentals. Historic occupancy rates in this sub-market are estimated to be approximately 97%-100%, while rental prices continue to increase. The neighborhood also boasts excellent access to major transportation routes, including Interstates 5, 163, and 8, providing convenient connections to key employment hubs throughout the greater San Diego area. Please do not communicate with or disturb any of the residents. Unit square footage is estimated based on the number provided by title services. Read Less
Listing Snapshot
Days Online
17
Last Updated
Property Type
Other
Lot Size
0.08 Acres
Year Built
1957
MLS Number
240023719SD
30 Days Snapshot Of 92103
$
-22%
(avg) sold price
24
0%
homes sold
56
-12%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
GasWaterHeater
Building
Built in 1957, Levels: One, 1 story, 1 building
Cooling
WallWindowUnits
Fence
Partial
Heating
NaturalGas
Income
Net operating income: $25,061
Lot
0.0801 acres, 3,487 square feet, Size: 3,487
Property
Zoning: RS-1-7
Roof
Composition
Tenant Pays
CableTv, Electricity, Gas
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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