Photo of Tom Chek

Tom Chek

DRE# 01726400

760.335.6700



$2,490,000

  • COMMERCIAL-RES INCOME
  • ACTIVE
  • MLS# 190012348

Description

The Oregon Street Cottages-a 7 unit community located North of Adams Avenue in North Park. The property is comprised of six 1-Bed/1-Bath cottages and a 3-Bed/2-Bath unit situated over 5 garages. The property is located in a quiet pocket of North Park and is walking distance from shopping, dining, and entertainment. Additionally, the subject property is just minutes from Downtown San Diego, Mission Valley, The Beach, and Balboa Park. With a walk score of 86 out of 100 tenants can enjoy many conveniences without ever getting into a car. The subject property has approximately 4,125 square feet of living area situated on a spacious 8,399 square foot parcel. Residents enjoy a quiet and peaceful courtyard area with lush landscaping and an on site laundry facility. The Oregon Street Cottages offer an investor the opportunity to raise rents to market levels without much updating. With continued gentrification in the area one should expect solid rent growth moving forward for many years to come.

Property Details

Property type:
Commercial-Res Income
Age of Building:
1931
Number of Buildings:
7
Number of Stories:
2

Location

County:
San Diego

Additional Details

Number of Units:
7
Number of Stories:
2
Price Per Unit:
$355,714
Down Payment:
$1,020,900
Gross Equity:
$1,200,000
SqFt of Improvement:
4,125
Lot Square Footage:
8,399
Assessors Parcel #:
438-260-11-00

Unit Details

Unit 1
Number of Units:
6
Number of Bedrooms:
1
Number of Baths:
1
Rent:
$1,500
Unit Rental Total:
$9,000
Unit 2
Number of Units:
1
Number of Bedrooms:
3
Number of Baths:
2
Rent:
$2,995
Unit Rental Total:
$2,995

Features

Amenities:
Other/Remarks

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North Park

North Park’s residential neighborhoods feature elegant and varied architectural styles, including Craftsman, California bungalow, Spanish/Mission Revival and Mediterranean. Because many of the houses were designed by renowned designer David Owen Dryden, the area is home to the Dryden Historic District. In 2012, Forbes magazine named North Park as one of America's best hipster neighbo... Read More

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Presented By
Tom
Chek

DRE# 01726400

760.335.6700

Email Me
Presented By
Tom
Chek

DRE# 01726400

760.335.6700

Email Me

Willis Allen Real EstateThis information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 Sandicor®, Inc.