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4671 Terrace

San Diego, CA 92116
  • $2,150,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: 240002850SD
Price Reduced
UPDATED: 231 min ago
$2,150,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2018
County:

School Ratings & Info

Listing Agent(s): Melodie Mcalpin of Melodie McAlpin, Broker (858-518-1545) and Tom Brooks of TXR Homes, Inc.(619-957-2841)


Description

Premier investment opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60 faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6 contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investors Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion. This is the ONE! This premier investment opportunity in the highly sought-after community of Kensington has undergone over $400,000 in improvements in just the last few years, establishing itself as a beacon of luxury and modernity. Among the most recent investments, $100,000 was dedicated to exterior upgrades, including a new foundation, comprehensive updates to electrical and plumbing systems, installation of new aluminum bronze windows, a new roof, fresh exterior paint, new masonry privacy walls, a new garage door, and a new garage opener, alongside many other enhancements. These extensive renovations transform this property into a rare and desirable income-generating machine, captivating even the most affluent investors. The estate has been meticulously upgraded with seller improvements designed to last a lifetime, featuring premium Ferguson Hansgrohe shower fixtures, 60 faux wood Minka Aire DC fans with wall controls in every room, luxurious Modena Living 6-foot vinyl wood plank floors throughout, and $20K in high-end stainless steel appliances. The oversized bedrooms, illuminated by 6 contemporary dimmable recessed LED lights, add to the allure of this masterfully renovated property, ensuring it dazzles even the most discerning buyers. Completely renovated down to the studs, this property exemplifies a commitment to quality and sustainability. It boasts an impressive passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, with the potential to escalate to $174,000 through an ADU/garage conversion. Featuring an attractive cap rate of 6.25%, it underscores the strong yield potential and stability of this investment. The projected NET income, based on actual rental income, includes a current 4BD SF house generating $5,000/mo, with the potential to rise to $6,250/mo, alongside a duplex contributing $60,000/yr to the current income, with a projected increase to $70,000. Moreover, a 4th unit garage conversion could add an additional $35,000, elevating the conservative passive annual income to an impressive $180,000. This turn-key investment dream includes high-quality renovations with a 4BD 2BA single-family home and a spacious 1200sf 1BD 1BA duplex, all featuring chefs dream kitchens with high-end SS appliances, luxury plank flooring, and $1,300 Minka Aire DC fans in every room. The property guarantees an enhanced tenant experience with ample dedi...

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-28T00:30:24.937. 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 Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147381439
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4671 Terrace San Diego, CA 92116

  • Price: $2,150,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 231 min ago
  • ID#: 240002850SD
0
Beds
0
Baths
0
½ Baths
0.14
Acres
2018
Built
Neighborhood:
92116 - Normal Heights
County:
San Diego
Area:
92116 - Normal Heights
Property Description
Premier investment opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60 faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6 contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investors Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion. This is the ONE! This premier investment opportunity in the highly sought-after community of Kensington has undergone over $400,000 in improvements in just the last few years, establishing itself as a beacon of luxury and modernity. Among the most recent investments, $100,000 was dedicated to exterior upgrades, including a new foundation, comprehensive updates to electrical and plumbing systems, installation of new aluminum bronze windows, a new roof, fresh exterior paint, new masonry privacy walls, a new garage door, and a new garage opener, alongside many other enhancements. These extensive renovations transform this property into a rare and desirable income-generating machine, captivating even the most affluent investors. The estate has been meticulously upgraded with seller improvements designed to last a lifetime, featuring premium Ferguson Hansgrohe shower fixtures, 60 faux wood Minka Aire DC fans with wall controls in every room, luxurious Modena Living 6-foot vinyl wood plank floors throughout, and $20K in high-end stainless steel appliances. The oversized bedrooms, illuminated by 6 contemporary dimmable recessed LED lights, add to the allure of this masterfully renovated property, ensuring it dazzles even the most discerning buyers. Completely renovated down to the studs, this property exemplifies a commitment to quality and sustainability. It boasts an impressive passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, with the potential to escalate to $174,000 through an ADU/garage conversion. Featuring an attractive cap rate of 6.25%, it underscores the strong yield potential and stability of this investment. The projected NET income, based on actual rental income, includes a current 4BD SF house generating $5,000/mo, with the potential to rise to $6,250/mo, alongside a duplex contributing $60,000/yr to the current income, with a projected increase to $70,000. Moreover, a 4th unit garage conversion could add an additional $35,000, elevating the conservative passive annual income to an impressive $180,000. This turn-key investment dream includes high-quality renovations with a 4BD 2BA single-family home and a spacious 1200sf 1BD 1BA duplex, all featuring chefs dream kitchens with high-end SS appliances, luxury plank flooring, and $1,300 Minka Aire DC fans in every room. The property guarantees an enhanced tenant experience with ample dedi...
Exterior Features

Fencing Partial Parking Total 0 Pool Features None Pool Private YN No Roof Rolled/Hot Mop Spa YN No View YN Yes

Interior Features

Appliances Gas Water Heater Cooling Central Air Cooling YN Yes Heating Forced AirNatural Gas Heating YN Yes

Property Features

Association Fee 0 Cap Rate 5 Gross Scheduled Income 115000 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 115000 Senior Community YN No Tenant Pays ElectricityGasWater Zoning Res. Multi



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-28T00:30:24.937. 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 Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Melodie Mcalpin of Melodie McAlpin, Broker (858-518-1545) and Tom Brooks of TXR Homes, Inc.(619-957-2841)