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Key Details
Sold Price $1,099,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 1,713 sqft
Price per Sqft $641
Subdivision Alpine
MLS Listing ID 220024446
Sold Date 01/26/23
Bedrooms 4
Full Baths 3
HOA Y/N No
Year Built 1984
Lot Size 2.010 Acres
Lot Dimensions 316x266
Property Description
Variance granted, Contingent on Cancellation of Current Escrow - 2-4 INCOME UNITS & THE PRICE REDUCED $100,000 - BEST OFFER OR TRADE. Paid Solar! Amazing opportunity!! Main House rent $3,000/$3,500 or more, Detached ADU would rent for at least for $1,800 and each 1,000 sq ft workshop for $1.800 each. Haven't even started on the other opportunities like the RV parking with water, power and sewer – all utilities. Or what else someone might do with all the other property since this is a 2+ acre parcel. And you can actually see all of this -- all Floor Plans are in the Virtual Tour and the 3D tours. You can get a good idea of the property with the 3D presentation allowing you to virtually walk through the property. But the entire property will blow your expectations when you actually see it in person. This one of a kind property.
Contingent on Cancellation of Current Escrow. PRICE REDUCED $100,000. BEST OFFER OR TRADE. OWNER HAS MOVED TO MISSOURI AND WANTS HOME SOLD NOW. ALL OFFERS CONSIDERED. Paid Solar with new high volume and deep well makes this property almost self-contained. The single-story home is perfect. It is 2-bedroom 2 bath home with optional 273 sq ft office or gym or craft room makes this 1,718 sq. ft. Main home is beautiful and will rent $3,000$3,500 a month or more. The detached over the garage apartment/ADU/granny flat is 2 bedrooms, 1 bath 900 sq ft with private entrance will rent for $1,800/$2,000 a month. The garage has two doors and the left one would be assigned to the apartment/ADU and the right one with the adjacent covered carport assigned to the house. There is paved parking in the area in front of the garages that is 79 ft by 79 ft for additional parking. This parking area is great for extra vehicles, guest and toys like boats, jet skis, ATV's and more. And near that is full hookup RV parking which would be rented for $150 to $200 a month. The workshops would rent for $15 to $20 a sq ft depending on what someone wants to use it for or use both for because these are designed to be production workshops. That is $1,500 to $2,000 a month recognizing that the dimensions of the workshops are 20 ft wide, 50 ft deep and 18 ft high with fully paid solar, wired for heavy use like welders and more, have central air compressor and LED lighting. A creative owner could find even more opportunities recognizing that there are other areas that are yet developed. There is a very large shipping container that based on security, square footage and cubic footage would rent for $500 a month or $6,000 a year that isn't in the financials. As an example, the house could be an Airbnb. OR, this property could be a boutique senior care center and with 6 residence would generate about $30,000 a month or $360,000 a year. As presented as a regular rental this property would generate $7,550 to $9,350 a month or over $100,000 a year. Utility costs are minimal because of the large amount of solar panels and actually 2 wells. This is not your average under rented needing repair rental opportunity. This is ready to go and upon COE the entire property goes to market rent. Cap rate 5.6% on the low end and/or 6.9%.
Location
State CA
County San Diego
Community Alpine
Area Alpine (91901)
Interior
Heating Electric, Propane, Solar
Cooling Central Forced Air, Zoned Area(s), Other/Remarks
Fireplaces Number 1
Appliance Fireplace, Forced Air Unit, Passive Solar
Exterior
Exterior Feature Wood/Stucco
Parking Features Unit1:Detached Unit2:Detached Unit3:Attached Unit4:Attached
Garage Spaces 8.0
Fence Full, Gate
View Evening Lights, Mountains/Hills, Panoramic, Parklike
Roof Type Composition
Building
Lot Size Range 2+ to 4 AC
Sewer Septic Installed
Water Well on Property
Level or Stories Other/Remarks
Others
Acceptable Financing Cash, Conventional, FHA, Seller May Carry
Listing Terms Cash, Conventional, FHA, Seller May Carry
Financing Conventional
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscal.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Licia Busso • Sand And Sea Home