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2127 2131 1/2 Felspar San Diego, CA 92109
6,242 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 260018256SD
HOA Y/N No
Year Built 1956
Lot Size 6,242 Sqft
Property Description
Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3. Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3 Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. Projected rental figures have been conservatively estimated, providing additional upside. The property has been consistently maintained over the course of ownership. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Investment opportunities with this combination of location, condition, unit mix, and near-term rental upside rarely become available in North Pacific Beach.
Location
State CA
County San Diego
Area 92109 - Pacific Beach
Zoning RM-3
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4165530700
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Lenna Doyle Compass #01732169