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Alexander Pfleger
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P: 858.483.4687
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4458-4462 40th Street
San Diego, California CA 92116
Price: $1,260,000
ACTIVE Status, Bedrooms, Full Baths
6,248 SqFt
Listing ID # 190007195

Property Description:

Exclusive 4-Plex in the heart of Normal Heights just two blocks from El Cajon Blvd and located on a dead-end street. The front of the property consists of a detached SFR with 3BR/2BA and a wide and long driveway. The rear of the property contains 3 additional units - first floor with a 1BR/1BA, second floor with an over-sized 1BR/1BA, and a cozy 2BR/1BA also on the second floor. 3 conveniently located single car garages - 2 of the single car garages has access from the rear of the property. Must see!!Fantastic opportunity for investor in prime location of Normal Heights. Tenants have been occupying for many years - opportunity to maximize rents and stabilize to market rental rates. Detached SFR has a beautiful entry way/sitting area leading to an open floorplan. Living room seamlessly flows to a large dining room with close access to the open and oversized kitchen. Three large bedrooms and two bathrooms on the right adjacent of the SFR - multiple accessibility to the property from the exterior - central A/C and heating in the SFR. The first 1 BR/1BA has an open floor plan with entry to the living area, BR/BA in the rear, and lovely kitchen and dining area to the adjacent right. Second floor 1BR/1BA is similar but with additional space making it even more desirable. 2BR/1BA gives both bedrooms privacy with each located on opposite sides of the unit and in between with open living spaces. All kitchens enjoy windows with tons of natural light - some units have pocket doors throughout. Three single car garages and is not designated to one single unit - flexibility to assign parking to a unit and therefore increase rents. Abundant driveway parking. Community laundry with a washer and a dryer room. Beautiful courtyard with an overgrown Avocado tree! This is a must see!

Primary Features

Community: NORMAL HEIGHTS
Neighborhood: Normal Heights
Complex/Park: Normal Heights
Short Sale: no
Net Operating Income Projected: 57840
Number of Buildings: 2
Number of Units: 4
Tenant Pays: Trash, Water, Electricity, Gas/Propane, Other/Remarks
Security: N/K
Roof: Other/Remarks
Exterior: Wood/Stucco
Cooling: Central Forced Air, Wall/Window

Interior Features

Levels: 2 Story
Total Stories: 2
Unit 1 Estimated SqFt: 481
Unit 1 Laundry Hook Ups: Common
Unit 1 Number of Bedrooms: 1
Unit 1 Number of Full Baths: 1
Unit 1 Number Total Baths: 1
Unit 2 Estimated SqFt: 588
Unit 2 Laundry Hook Ups: Common
Unit 2 Number of Bedrooms: 1
Unit 2 Number of Full Baths: 1
Unit 2 Number Total Baths: 1
Unit 3 Estimated SqFt: 794
Unit 3 Laundry Hook Ups: Common
Unit 3 Number Bedrooms: 2
Unit 3 Number of Full Baths: 1
Unit 3 Number Total Baths: 1
Unit 4 Estimated SqFt: 1317
Unit 4 Laundry Hook Ups: Common
Unit 4 Number of Bedrooms: 3
Unit 4 Number of Full Baths: 2
Unit 4 Number Total Baths: 2

External Features

Entry Only: no
Fencing: Full
Lot Size: 4,000-7,499 SF
Unit 1 Exclusive Use Yard: no
Unit 1 Parking Garage Space: 1
Unit 2 Exclusive Use Yard: no
Unit 2 Parking Garage Space: 1
Unit 3 Exclusive Use Yard: no
Unit 3 Parking Garage Space: 1
Unit 4 Exclusive Use Yard: No

Location Information

Cross Street(s): Meade Ave
Market Area: Metro Uptown
Zip/Area: NORMAL HEIGHTS (92116)

Financial Details

Annual Expense Actual: 22049
Annual Expense Projected: 24000
Assessors Parcel Number: 447-132-26-00
Cap Rate Actual: 2.96
Cap Rate Projected: 4.59
Gross Rent Multiplier Act: 21.24
Gross Rent Multiplier Projected: 15.4
Gross Scheduled Income Actual: 59320
Gross Scheduled Income Projected: 81840
Sale/Rent: For Sale
Terms: Cash, Conventional
Unit 1 Deposit: 1000
Unit 1 Projected Rent: 1000
Unit 1 Rent Actual: 1000
Unit 2 Deposit: 1200
Unit 2 Projected Rent: 1250
Unit 2 Rent Actual: 1200
Unit 3 Deposit: 1100
Unit 3 Projected Rent: 1500
Unit 3 Rent Actual: 950
Unit 4 Deposit: 1400
Unit 4 Projected Rent: 2600
Unit 4 Rent Actual: 1400

Additional

Age Restrictions: N/K
Association ID: San Diego Association of REALTORS (SDAR)
Number of Units w/Dryers: 1
Number of Units w/Garage: 3
Number of Units w/Patios: 1
Number of Units w/Range/Oven: 4
Number of Units w/Refrigerator: 4
Number of Units w/Washers: 1
Number Units w/Cooling: 2
Number Units w/Dishwashers: 4
Property Type: 2-4 UNITS
Sales Restrictions: N/K
Unit Number for Unit 1: 4458
Unit Number for Unit 2: 4460
Unit Number for Unit 3: 4458.5
Unit Number for Unit 4: 4462

Zoning Info


Listing courtesy of Coldwell Banker Res. Brokerage
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) services provided by SDMLS and CRMLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. © 2019 San Diego Multiple Listing Service, Inc. © 2019 California Regional Multiple Listing Service. Data updated on Sunday, July 21st, 2019 05:27:19 PM.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited.

Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.

Last Updated: 2019-05-20

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