$1,500,000
$1,500,000
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SOLD DATE : 05/30/2018
Key Details
Sold Price $1,500,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Ocean Beach
MLS Listing ID 170031600
Sold Date 05/30/18
HOA Y/N No
Year Built 1935
Property Description
Beachcomber's paradise - directly on an incredibly wide sandy beach. Two old bungalows and a separate garage. Cottages have no monetary value. The roofs, plumbing & wiring all very old. Property grossly under-utilized. One tenant just moved and the other tenant is month-to-month. Cottages have no intrinsic value but the location is sterling. Detached garage is accessed from paved street on the north end of the property. Estate trust sale not subject to court confirmation. The Gross Rent Multiplier and the Cap Rate are useless on this property due to the condition, size and age of the cottages. With one or two new units constructed, the value will be dramatically increased and so will the Cap Rate. The City records show a construction date of 2000. This is way off. We believe the date is closer to 1935. Neighborhoods: Ocean Beach Park Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 5162 Unit # for Unit 2: 5162 & 1/2 Number of Furnished Units: 0 Topography: LL
Location
State CA
County San Diego
Area 92107 - Ocean Beach
Building/Complex Name two old cottages
Zoning R-4
Interior
Heating None, See Remarks
Cooling None
Fireplace No
Appliance Electric Water Heater
Exterior
Fence Partial
Pool None
View Y/N Yes
View Ocean, Panoramic
Roof Type Composition
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Tax ID 4480230400
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
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Bought with Kristin Slaughter • Coldwell Banker Realty
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”