San Diego, CA 92116,4502 40th St.
San Diego, CA 92116,4502 40th St.
San Diego, CA 92116,4502 40th St.
San Diego, CA 92116,4502 40th St.
San Diego, CA 92116,4502 40th St.
San Diego, CA 92116,4502 40th St.
See all 29 photos

$2,125,000

$2,336,000

9.0%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

5,000 Sqft Lot


SOLD DATE : 11/04/2024

Key Details

Sold Price $2,125,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 240021335SD

Sold Date 11/04/24

HOA Y/N No

Lot Size 5,000 Sqft

Property Description

4502 40th St. is turn-key 6-unit apartment building located in the vibrant Normal Heights neighborhood. The buyer can assume the existing 3.76% Chase Loan which is interest + principle. The loan adjusts on Feb. 1, 2029. This is a 30-year loan that matures Feb. 1, 2052 with a ceiling of 9.5% and a floor of 2.5% All 6 units are remodeled. There is a new roof with a 10-year warranty, which was installed in May 2024 ($30,000 value). This investment property has a history of 100% occupancy, and the apartment is filled with excellent residents who all pay their rents on-time and all residents are current on their rental payments. 2 units are 1/1 and 4 units are 2/2. All units have been renovated with new kitchens, bathrooms with tiled walk-in showers, wood-like vinyl floors, etc. The latest remodel took place in 2024. Newer replacement windows throughout the building. Other capital expenditures include: upgraded, new sewer pipe from the building to the city sewer main. The property has an onsite laundry room that produces additional income. There is also an owner's storage room. The property has been professionally landscaped, and is easy to maintain. This attractive 5,040 sq. ft. building has seven-plus, off-street parking spaces, many of which can fit more than one car. The location is an easy walk to downtown Kensington, as well as downtown Normal Heights.

Location

State CA

County San Diego

Area 92116 - Normal Heights

Zoning R-3

Interior

Heating Radiant, Wall Furnace

Fireplace No

Exterior

Total Parking Spaces 7

Others

Tax ID 4470621500

Acceptable Financing Cash

Listing Terms Cash

Financing Other

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


California Regional MLS (CRMLS)
Listed by Monica Getz • Gemstone Real Estate
Bought with Krista Losito • KB Investments
advisor-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 463-1085

tonyenglish@me.com

28391 Sheridan Dr, Niguel, California, 92677, United States

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.