Description

Price reduced! Charming, renovated 1939 triplex perfect for owner-occupant. Downtown/Bay views. Extremely well-located at the junction of highly desirable Middletown, Mission Hills, and Bankers Hill. Tenant occupied, but possibility for owner-occupant - call for details. 2 structures. 5,621 SF corner parcel. Front is a 2bed/2bath turnkey house est. @ 1,100 SF w/ private side covered porch with exclusive Downtown and bay views. Interior has been tastefully renovated - all new kitchen/baths, lighting, flooring, paint, SS appliances, cabinets. Rented to long-term tenant at $4.5K/month. Rear 2-story duplex w/ (2) 1bed/1bath units, est. @ 500 SF each, rented to month-month tenants. These units have been recently refreshed but are primed for further upgrades + rent upside. Tenants enjoy private fenced front/side yard areas for additional outdoor relaxation/BBQ space. Newer windows, electrical upgrades, newer mini-split HVAC systems, and exterior landscaping upgrades with new fencing, paint, and drought-tolerant plants. 2 carports offering at least 3 off-street parking spaces and a common-area laundry room for additional income. All units have some views of either Downtown, the Bay or both. Zoned RM-2-5; base density of 1 unit/1,500 SF of land. Complete Communities (Tier 3/6.5x FAR) and Transit Priority Area Overlay zones, both of which lend significant density bonus potential and reduced parking requirements in this prized, coastal location. Fantastic long-term opportunities for investors and developers to explore significant high-density development options. Seller has confirmed any preexisting historical restrictions can be waived; airport authority will allow up to 60’ max. new bldg. height, and has also completed a preliminary architect feasibility study for development of 20-40 multifamily units. Don’t miss this fantastic opportunity to acquire a value-add coastal asset with healthy current income and development potential in one of San Diego’s most desirable residential submarkets!