About this home

Accepting Back-ups!! The property parcel has been successfully UPGRADED. The parcels consisting 534-301-02-00 and 534-301-01-00 have been MERGED by the County into a single NEW PARCEL #534-301-24-00. We received a great deal of interest from smaller investors, but conventional financing had been difficult as 534-301-01-00 (.06 acres) was a vacant lot. Now, 534-301-24-00 (.12 acres) is duplex with 4 garages with .06 acres of it being undeveloped. It should be possible for a buyer to move into one of the cottages and rent out the other to help pay for the mortgage. Fannie Mae, owner-occupied financing should be possible for the ENTIRE PROPERTY now. There is a shared driveway with the neighbor to the east. The property line is in the middle of the driveway, evenly splitting it ... 5 feet is on our subject property and 5 feet is on the neighbor's property. This duplex is located in a vibrant part of Golden Hill. It is on the path of redevelopment. Pershing Drive turns into 26th street, and therefore 26th Street is a main gateway to Golden Hill and Balboa Park! Each unit has a small patio and off-street parking which is highly desirable in this part of the town. There are two 1-car garages below each cottage for a total of 4 garages. This property in the path of major redevelopment and has the potential for of over 30 units. There are many possibilities. Buyers to verify the number of entitlements with the City of San Diego. The Projected Income was based on $1850 with each cottage having 1 garage. The 2 remaining 2 garages could fetch $200/month separately.

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Public-record history for this property.

MLS #240018236SD

🔥 Risk & insurability

FEMA National Flood Hazard Layer · CAL FIRE 2024 FHSZ

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