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listing
1 of 32
MultifamilyFor Sale
$2,088,000
4671-73 Terrace Dr
San Diego, CA 92116
Listing Provided Courtesy of Melissa Goldstein Tucci
MLS: San Diego Multiple Listing Service (SDMLS)
6,210Sq Ft
Est. Mortgage
$10,878/mo

PRIME KENSINGTON LOCATION! 3 HOMES ON ONE LOT! This exceptional investment opportunity in coveted Kensington has over $400,000 in upgrades including $60,000 in remodeled kitchens, $20,000 in updated bathrooms and 2-car garage plus additional parking! Offering a Passive Net Operating Income of $10,000 monthly or $120,000 annually, with potential growth up to $174,000 through ADU/garage conversion. Featuring a compelling Cap Rate of 6.25%, it ensures strong yield potential and investment stability. The 4 bed single family home currently yields $5,000 monthly, projected to increase to $6,250, totaling $75,000 annually. The upgraded duplex adds $60,000 yearly, expected to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, elevating the conservative passive annual income to an impressive $180,000. With an unparalleled attention to detail, this extensively remodeled property includes high-end fixtures & finishes that create a timeless and sustainable design. Renovated down to the studs, the upgrades include: Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room with wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout, Recessed LED lighting and $25,000 in high end stainless steel appliances.Further enhancements include: $100,000 towards exterior upgrades, a new foundation, extensive updates to electrical and plumbing systems, installation of new aluminum bronze windows, a new roof, exterior paint, masonry privacy walls and a modern garage door. This is truly a one of a kind opportunity!

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Listing Courtesy of Melissa Goldstein Tucci. San Diego Multiple Listing Service, Inc. “SDMLS” Last Updated: 11/28/2024 08:34 PM
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