Pleased to present 3139-47 Reynard Way located in San Diego, CA. The 5-unit apartment complex is ideally located in the central neighborhood of Bankers Hill and boasts proximity to all the best attractions the neighborhood has to offer. Originally built in approximately 1957, the property is situated on a large… Read More 8,946 SF lot and the building measures approximately 3,250 square feet. The unit mix consists of (4) 1-bedroom / 1-bathroom units and (1) 2-bedroom/1-bathroom unit. The 2-bedroom unit is currently rented as a 1-bedroom unit with the second bedroom being used as storage but could easily be repurposed back into an additional bedroom. Current ownership has self-managed the property and completed some capital improvements including dual-pane vinyl windows in all units and a newer hot water heater. Attractive tenant offerings of the single-story complex include a communal courtyard space, on-site laundry room and back porch area for select units. Current rents are significantly below market and offer a savvy investor an opportunity to extensively renovate and capture market rents in this desirable location. The property is also situated in Complete Communities Tier 3 allowing a 6.5 FAR and the large lot size could bode well for a complete redevelopment to significantly increase density. Located within minutes of iconic Balboa Park and the bustling neighborhoods of Mission Hills and Hillcrest, the property is well positioned for continued growth. Read Less
Listing Snapshot
Days Online
43
Last Updated
Property Type
MixedUse
MLS Number
260021329SD
Additional Details
Building
1 building
Expenses
Operating: $39,373
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $77,628, Net Operating Income: $37,550
Taxes
Parcel Number: 4525710300
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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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