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717 Homeward Way

Alpine, CA 91901
  • $1,299,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: 220019370SD
UPDATED: 85 min ago
$1,299,000
  • 0
    BEDS
  • 2.01
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Ratings & Info

Listing Agent(s): Pete Mylerberg of United Realty Group (877-393-8648)


Description

Variance granted 2-4 Units. Amazing opportunity. Main House rent $3,000 or more, Detached ADU would rent for at least for $1,800 and each 1,000 sq ft workshop for $1.800 each. Haven't even started on the other opportunities like the RV parking with water, power and sewer - all utilities. Or what else someone might do with all the other property since this is a 2+ acre parcel. And you can actually see all of this. All Floor Plans are in the Virtual Tour and the 3D. You can get a good idea of the property with the 3D presentation allowing you to virtually walk through the property. But the entire property will blow your expectations when you actually see it in person. This one of a kind property. The single-story home is perfect. It is 2-bedroom 2 bath home with optional 273 sq ft office or gym or craft room makes this 1,718 sq. ft. Main home is beautiful and will rent $3,000 a month or more. The detached over the garage apartment/condo is 2 bedrooms, 1 bath 900 sq ft with private entrance will rent for $1,800 a month. The garage has two doors and the left one would be assigned to the apartment/condo and the right one with the adjacent covered carport assigned to the house. There is paved parking in the area in front of the garages that is 79 ft by 79 ft for additional parking. This parking area is great for extra vehicles, guest and toys like boats, jet skis, ATVs and more. And near that is full hookup RV parking which would be rented for $150 to $200 a month. The workshops would rent for $15 to $20 a sq ft depending on what someone wants to use it for or use both for because these are designed to be production workshops. That is $1,500 to $2,000 a month recognizing that the dimensions of the workshops are 20 ft wide, 50 ft deep and 18 ft high with fully paid solar, wired for heavy use like welders and more, have central forced air compression and LED lighting. A creative owner could find even more opportunities recognizing that there are other areas that are yet developed. As an example, the house could be an Airbnb. Either way this property would generate $7,550 to $9,350 a month. This is not your average under rented needing repair rental opportunity. This is ready to go and upon COE the entire property goes to market rent. Cap rate 5.6% on the low end and/or 6.9%. Sewer: Septic Installed Number of Furnished Units: 4 Topography: GSL

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T16:33:12.003. 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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717 Homeward Way Alpine, CA 91901

  • Price: $1,299,000
  • Status: Active
  • On Site: 20 Days
  • Updated: 85 min ago
  • ID#: 220019370SD
0
Beds
0
Baths
0
½ Baths
2.01
Acres
1984
Built
Neighborhood:
Alpine
County:
San Diego
Area:
91901 - Alpine
Property Description
Variance granted 2-4 Units. Amazing opportunity. Main House rent $3,000 or more, Detached ADU would rent for at least for $1,800 and each 1,000 sq ft workshop for $1.800 each. Haven't even started on the other opportunities like the RV parking with water, power and sewer - all utilities. Or what else someone might do with all the other property since this is a 2+ acre parcel. And you can actually see all of this. All Floor Plans are in the Virtual Tour and the 3D. You can get a good idea of the property with the 3D presentation allowing you to virtually walk through the property. But the entire property will blow your expectations when you actually see it in person. This one of a kind property. The single-story home is perfect. It is 2-bedroom 2 bath home with optional 273 sq ft office or gym or craft room makes this 1,718 sq. ft. Main home is beautiful and will rent $3,000 a month or more. The detached over the garage apartment/condo is 2 bedrooms, 1 bath 900 sq ft with private entrance will rent for $1,800 a month. The garage has two doors and the left one would be assigned to the apartment/condo and the right one with the adjacent covered carport assigned to the house. There is paved parking in the area in front of the garages that is 79 ft by 79 ft for additional parking. This parking area is great for extra vehicles, guest and toys like boats, jet skis, ATVs and more. And near that is full hookup RV parking which would be rented for $150 to $200 a month. The workshops would rent for $15 to $20 a sq ft depending on what someone wants to use it for or use both for because these are designed to be production workshops. That is $1,500 to $2,000 a month recognizing that the dimensions of the workshops are 20 ft wide, 50 ft deep and 18 ft high with fully paid solar, wired for heavy use like welders and more, have central forced air compression and LED lighting. A creative owner could find even more opportunities recognizing that there are other areas that are yet developed. As an example, the house could be an Airbnb. Either way this property would generate $7,550 to $9,350 a month. This is not your average under rented needing repair rental opportunity. This is ready to go and upon COE the entire property goes to market rent. Cap rate 5.6% on the low end and/or 6.9%. Sewer: Septic Installed Number of Furnished Units: 4 Topography: GSL
Exterior Features

Parking Total 0 Pool Features None Pool Private YN No Roof Composition Spa Features None Spa YN No View OceanPanoramic View YN Yes

Interior Features

Appliances Propane Water HeaterSolar Hot Water Cooling Central Air Cooling YN Yes Heating CombinationForced AirPropaneSolar Heating YN Yes

Property Features

Association Fee 0 Cap Rate 0 Disclosures Unincorporated Gross Scheduled Income 0 Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalFha Net Operating Income 0 Possession Close Of Escrow Security Features Security Gate Senior Community YN No Tenant Pays GasTrash Collection



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T16:33:12.003. 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): Pete Mylerberg of United Realty Group (877-393-8648)