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3881 85 Logan Avenue San Diego, CA 92113
6,834 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Logan Heights
MLS Listing ID 260022142SD
HOA Y/N No
Year Built 1927
Lot Size 6,834 Sqft
Property Description
Beautiful well cared for 3-unit property with 3 one car garages and a set of Shovel Ready fully permitted plans for a 2-unit ADU that would go in between the back unit and the garage in the open space shown in the pictures. The plans are for a two-story property with a 1 bedroom 1 bath unit on the 2nd floor (533 Sq. Ft) accessible by an outside staircase, and a 2-bedroom, 2 bath unit on the 1st floor (656 Sq. Ft) Make this property a legal 5 unit and enjoy the extra rents without the hassle and expense (approximately 50,000 savings) of the planning and permitting process that the current seller already completed. Projected market rents are as follows 2,250 for the 1 Br unit and 2,750 for the 2 Br unit. That would add 60,000 to the GSI for a total potential yearly total rent of 128,000. The estimated cost of construction is 350K. SEE SUPPLEMENT!! 3881 and 3883 are both upgraded with new kitchen cabinets, quartz countertops, gas ranges, vinyl plank flooring, new bathrooms w/tile shower surrounds and pedestal sinks, new doors, crown molding and ceiling fans in LR's and BR's. All units have newer dual pane vinyl windows and the roofs are newer. 3885 is upgraded to a lesser extent (older kit and bath). All buildings have newer stucco and security screen doors at the front and back of each unit. All leases are month to month. The large 7000 Sq. Ft. lot is level and gated. There are nice shade trees in front and in the middle and there is a building off the alley with 3 one car garages with roll-up garage doors. There is a gate providing access to the lot from the alley and plenty of access to the proposed ADU's that can be built. This is a great income property in its own right, and with its 2-ADU plans, if built, becomes a fantastic investment.
Location
State CA
County San Diego
Area 92113 - Logan Heights
Building/Complex Name none
Zoning R-3 multi
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Pool None
View Y/N Yes
View None
Roof Type Rolled/Hot Mop
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 5501120200
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Kevin Sheedy Kevin Sheedy Realty #01783042