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Key Details
Sold Price $2,070,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 782 sqft
Price per Sqft $2,647
Subdivision North Park
MLS Listing ID 220018369
Sold Date 08/17/22
Bedrooms 6
Full Baths 4
HOA Y/N No
Year Built 1927
Property Description
Georgia & Cypress is a unique high quality apartment property in an A+ area of North Park, San Diego, with 3 addresses associated with 92103 (Hillcrest) and 1 address associated with 92104 (North Park). The property sits just 2 blocks to the world renown Balboa Park and is within walking distance of trendy restaurants, upscale grocery stores, coffee shops and nightlife. Georgia & Cypress consists of 2 2 Bedroom / 1 Bathroom units and 2 1 Bedroom / 1 Bathroom units WITH EXCESS LAND TO POTENTIALLY ADD AN ADDITIONAL 2 UNITS TO THE SITE. The property is on a corner lot and has 4 designated parking spaces in the rear of the property. Each unit has a large storage area and 3 of the 4 units have washer/dryer hookups with one unit having adequate space to add this feature. The property also boasts a new roof (2021), newer dual pane windows, a complete exterior painting (2020) and landscaping. The interiors have been kept very well over the years with various upgrades to 3 of the 4 units. Although the property is meticulously maintained, due to long term ownership, the in-place rents are very low. There is significant upside potential through a complete renovation of unit 3647 Georgia St. & minor updates to the remaining units. Unit 3639 Georgia St. (2BR/1BA) will be delivered vacant at the close of escrow, allowing a buyer the opportunity to live in the unit and rent out the others, or to complete additional updates to bring the rent up to market. Georgia & Cypress offers an opportunity for the long term investor or owner occupier to own a rarely offered, highly unique property
Location
State CA
County San Diego
Community North Park
Area Mission Hills (92103)
Zoning RM-3-7
Interior
Cooling Wall/Window
Exterior
Exterior Feature Stucco
Roof Type Rolled/Hot Mop
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with Saeid Baha • Baha & Associates Inc