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4671 - 73 Terrace Drive

San Diego, CA 92116
  • $2,295,000
  • STATUS: ACTIVE
  • ON SITE: 14 Days
  • ID#: 240002764
$2,295,000
  • 4
    BEDS
  • 0.14
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 2,950
    SQFT
  • $778
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
2018
County:

School Ratings & Info

Description

Premier investment opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion. This is the ONE! Premier Investment Opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion.Seller may carry.

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San Diego MLS logo 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) service provided by San Diego MLS. 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. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
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4671 - 73 Terrace Drive San Diego, CA 92116

  • Price: $2,295,000
  • Status: ACTIVE
  • On Site: 14 Days
  • ID#: 240002764
4
Beds
2
Baths
0
½ Baths
0.14
Acres
2,950
SQFT
$778
$/SQFT
2018
Built
Neighborhood:
Kensington
County:
San Diego
Area:
Normal Heights (92116)
Property Description
Premier investment opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion. This is the ONE! Premier Investment Opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion.Seller may carry.
Exterior Features

Entry Level Building 1 Entry Level Unit 1 Exclusive Use Yard Yes Exterior Stucco Fencing Stucco WallWood Guest House Other/Remarks Irrigation AutomaticSprinklers Lot Size 4000-7499 SF Parking For RV Potential Space Parking Garage Description AssignedDetachedGarage Parking Non Garage Description DrivewayOff Street Parking Non Garage Spaces 8 Parking Spaces Total 10 Patio EnclosedStone/TilePatio Pool N/K Residential Styles Detached Residential Unit Location DetachedNo Common Walls Roof Flat Site Alley AccessCorner LotCul-De-SacPrivate StreetRear Yd Str AccessLandscapedSprinklers In Front Three Or More Steps For Entry No Topography Level View CityEvening LightsNeighborhood

Interior Features

Bath Totals 2 Bedroom2 Dimensions 12x11 Bedroom3 Dimensions 11x10 Bedroom4 Dimensions 14x13 Bedrooms Total 4 Cooling Central Forced AirElectricHigh Efficiency Dining Room Dimensions 12x10 Equipment Available DishwasherDisposalDryerMicrowaveRange/OvenRefrigeratorWasherCounter Top Family Room Dimensions x Fireplace FP in Family RoomOther/Remarks Fireplaces 1 Floor Coverings Linoleum/VinylStoneTile Heat Equipment Forced Air UnitFireplaceHigh EfficiencyHeat Pump Heat Source Natural Gas Interior Features Ceiling FanGranite CountersKitchen IslandLow Flow ShowerLow Flow Toilet(s)Open Floor PlanRecessed LightingRemodeled KitchenShowerShower in TubStone CountersStorage SpaceSump PumpKitchen Open to Family Rm Kitchen Dimensions 14x10 Laundry Location Closet Full SizedInsideLaundry Room Laundry Utilities Electric Living Room Dimensions 24x12 Master Bedroom Dimensions 17x12 Optional Bedrooms 0 Searchable Rooms Bedroom Entry Level Stories 1 Story Water Heater Type Energy Star Water HeaterGasHigh Eff. Water HeaterWater Heater Unit

Property Features

Accessibility Features 2+ Access ExitsParking Age Restrictions N/K Architectural Style Mediterranean/SpanishModern Association ID San Diego Association of REALTORS (SDAR) Cfd Mello Roos Fee 0.0 Community KENSINGTON Cross Streets Adams Ave Home Owners Fees 0.0 Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Other Fees 0.0 Other Structures Two On A Lot Ownership Fee Simple Property Condition Updated/Remodeled Property Restrictions Known None Known Residential Sub Category Detached Sales Restrictions N/K Sewer Septic Other/Remarks Short Sale No Terms CashConventionalFHASubmitSeller May CarryVA Units In Building 1 Units In Complex 4 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedWater Connected Water Public

San Diego MLS logo Listing provided courtesy of Melodie Mcalpin of Melodie McAlpin, Broker: 858-518-1545. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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) service provided by San Diego MLS. 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. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Yarbrough Group
2445 Truxtun Rd., Ste 108
San Diego CA, 92106