1501 Grove

San Diego, CA 92102

Sold

$2,180,000

2021.04.21

1/5

Property Description

Location Location Location 6 units: SFR, Duplex and Triplex on 2 parcels. A real value-add asset in the coveted neighborhood of South Park, San Diego. First time in market since 1995. Prime rental location for both long-term and short-term Airbnb. This unique investment opportunity consists of two parcels: Parcel 1: A spacious 2 bedroom/1 bath detached house that includes additional rooms such as dining room, a large closet room behind bedroom that can be used for home office and a storage /laundry room behind kitchen. Parcel 2: Includes a duplex consisting of a 2 bedroom/1 bath and a 1 bedroom/1 bath unit along with a triplex consisting of (3) 1 bedroom one bath units. There are 3 total garage / storage spaces. Ample yard space. All units are separately metered. The neighborhood of South Park is bordered by balboa park to the west, north park to the north, the interstate 15 east and Golden hills to the south. This sale lends investors the rare opportunity to acquire a value add property in one of San Diego's most coveted residential rental markets, Located in the hearth of South park, this complex is within walking distance tom many local stores and eateries, only few blocks away from entertainment on 30th street and renowned Balboa Park. The property is located in mostly single-family residential area with in historically designated neighborhood giving the buyer the opportunity save up to 50% on property taxes by applying for Mills act.

Property Details

Property Type

Multifamily

Units

6

SqFt

4,222

Unit Mix

Year Built

1926

Price

$2,180,000

Price/Unit

$363,333

Price/SF

GRM

$516

14.22

Cap Rate

4.37%

Property Location

South Park

Contact Agent

Kenneth Herskind

858.699.4013

DRE # 01872460

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