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3071 Hawthorn

San Diego, CA 92104
  • $1,695,000
  • STATUS: Active
  • ON SITE: 4 Days
  • ID#: 220020043SD
New On Site 4 Days Ago
UPDATED: 27 min ago
$1,695,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1937
County:

School Ratings & Info

Listing Agent(s): Allen Chitayat of Cbre (858-546-4600)


Description

Premier 4+1 unit Cottage Style property in an irreplaceable San Diego location near Fern and 30th St surrounded by boutique coffee roasters, breweries, classic restaurants, and walking distance to the famous Balboa Park! Ownership can deliver the entire rear building empty at closing consisting of the primary 2 bedroom unit, the downstairs 1 bed bonus unit, and a huge yard! Allowing an ideal owner-occupy scenario or allowing an investor to immediately renovate those units and capture the current historical high market rents. 3071 Hawthorn can provide a significantly stronger than average market return at an incredible 4.26% cap rate on as-is unit conditions or 4.81% if the empty rear building is renovated, and 5.95% proforma cap rate after all units are renovated. All units possess mid to large size large private yards with no more than one shared wall and under market rents. The property offers an investor the ability to achieve attractive residential financing with additional income from a Bonus unit to increase cashflow. The Bonus unit was established out of legal square footage of the rear house. Additional asset value can be achieved through streamlined ADU permitting guidelines or by constructing a ground-up ADU in the center of the parcel. Alternatively, an owner occupier can combine these two rear units to make an ideal detached 3 bedroom 2 bath house with a huge yard. Attractive financing quote in hand for a 30% downpayment at a 4.825% interest only rate for 5 years fixed! Or 25% downpayment at a 4.75% rate 5 year fixed with a 30 year amortizing schedule. Unit # for Unit 1: 2+1 House Number of Furnished Units: 0

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T18:31:36.267. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
www.itsyourmovesandiego.com/homes/131533660
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3071 Hawthorn San Diego, CA 92104

  • Price: $1,695,000
  • Status: Active
  • On Site: 4 Days
  • Updated: 27 min ago
  • ID#: 220020043SD
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1937
Built
Neighborhood:
92104 - North Park
County:
San Diego
Area:
92104 - North Park
Property Description
Premier 4+1 unit Cottage Style property in an irreplaceable San Diego location near Fern and 30th St surrounded by boutique coffee roasters, breweries, classic restaurants, and walking distance to the famous Balboa Park! Ownership can deliver the entire rear building empty at closing consisting of the primary 2 bedroom unit, the downstairs 1 bed bonus unit, and a huge yard! Allowing an ideal owner-occupy scenario or allowing an investor to immediately renovate those units and capture the current historical high market rents. 3071 Hawthorn can provide a significantly stronger than average market return at an incredible 4.26% cap rate on as-is unit conditions or 4.81% if the empty rear building is renovated, and 5.95% proforma cap rate after all units are renovated. All units possess mid to large size large private yards with no more than one shared wall and under market rents. The property offers an investor the ability to achieve attractive residential financing with additional income from a Bonus unit to increase cashflow. The Bonus unit was established out of legal square footage of the rear house. Additional asset value can be achieved through streamlined ADU permitting guidelines or by constructing a ground-up ADU in the center of the parcel. Alternatively, an owner occupier can combine these two rear units to make an ideal detached 3 bedroom 2 bath house with a huge yard. Attractive financing quote in hand for a 30% downpayment at a 4.825% interest only rate for 5 years fixed! Or 25% downpayment at a 4.75% rate 5 year fixed with a 30 year amortizing schedule. Unit # for Unit 1: 2+1 House Number of Furnished Units: 0
Exterior Features

Fencing Partial Parking Total 0

Interior Features

Cooling Wall/Window Unit(S) Cooling YN Yes

Property Features

Association Fee 0 Cap Rate 4.81 Gross Scheduled Income 11475 Levels Two Listing Agreement Seller Reserved Listing Service Full Service Listing Terms Conventional Net Operating Income 81508 Senior Community YN No Tenant Pays ElectricityGas



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-07T18:31:36.267. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
 
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Massa & Associates Real Estate Group | eXp California Realty Inc
848 Prospect St
La Jolla CA, 92037
Listing Agent(s): Allen Chitayat of Cbre (858-546-4600)