15
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$1,550,000
Est. payment /mo
Active Under Contract
3139 Reynard Way San Diego, CA 92103
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 260021329SD
HOA Y/N No
Property Sub-Type Mixed Use
Property Description
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 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.
Location
State CA
County San Diego
Area 92103 - Mission Hills
Interior
Fireplace No
Others
Tax ID 4525710300
Special Listing Condition Third Party Approval
Listed by Ben Sierpina Marcus & Millichap #02062416
NEARBY SCHOOL & BUSINESS
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