1927 Irving Ave, Logan Heights, CA 92113

$849,000
2
BD
1
BA
792
SqFt
List Price
$849,000
Status
ACTIVE
MLS#
210011663
Year Built
1906
Bedrooms
2
Bathrooms
1
Living Sq. Ft
792
Lot Size
5,049
Acres
0.12
Days on Market
4
Property Type
Single Family Residential
Property Sub Type
Single Family Residence
Stories
One Level
Neighborhood
Logan Heights

Property Description

We are proud to present a very rare and amazing opportunity in Barrio Logan, located less than 5 minutes from Coronado Bridge, Downtown San Diego, Petco Park, the Convention Center, Gaslamp, Etc. There is almost NO inventory in this area. For sale is a newly COMPLETELY renovated 2 bed/1 bath house on a very large lot with APPROVED permits and plans to build a spacious duplex in the back. The duplex drawings have a bottom unit that is 3 rooms/2 bath, upstairs unit of 4 rooms/2 bath, and a carport. The property has ally access from the back so the main house has an entrance from the main street (Irving) and the back units will have their own entrance from the ally side. The seller got a building quote of $225,000 for the unit build so for just over $1,000,000 invested, a new buyer can have a house to either rent or live in, and a duplex in the back. Current rent estimates show this complex will yield rent in excess of $10,000 monthly. If the buyer lives in the front house, the units in the back should cover the mortgage! It’s a great location that is very impacted. When seller listed property for rent they received over 100 inquiries. Also this property is in an OPPORTUNITY ZONE, meaning it’s a great option for any investor with capital gains to defer or eliminate federal taxes. Permits were ALL approved by city of San Diego. It took seller over 18 months and numerous obstacles and over $100,000 to get the permits finally approved. The project will be shovel ready by closing. Tenant is leaving end of May so property can be delivered vacant June 1, 2021. Equipment: Washer Other Fees: 0 Sewer: Sewer Connected Topography: LL

Additional Information

Appliances
Built-In Range
Pool Description
None
Heat
Natural Gas, None
Cooling Description
None
Exterior Construction
Vinyl Siding
Roof
Shingle
Water
Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Marianne Malek from Marianne Malek, Broker

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.