3289-3291 Ibis St. Active Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92103
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 480 sqft
Price per Sqft $1,718
Subdivision San Diego
MLS Listing ID 240023719
Bedrooms 2
Full Baths 2
HOA Y/N No
Year Built 1957
Lot Size 3,487 Sqft
Property Description
The property located at 3289-3291 Ibis Street consists of 2 units located in San Diego, California. Following the completion of renovations, a 25-30% upside in rental income is projected. This property is located in the desirable Middletown/South Mission Hills neighborhood, in close proximity to Old Town, Bankers Hill, Balboa Park, Little Italy, and Downtown. Constructed in 1957, the property features two 1-bedroom/1-bathroom units, each approximately 480 SF (960 total SF) on a 3,487 SF lot. Additional amenities include a private backyard, epoxy coated concrete walkways, drought-resistant landscaping, laminate flooring, a recently upgraded pitched roof, and vinyl fencing. Furthermore, there is a value-add opportunity through the implementation of RUBS, enabling tenants to contribute to a portion of the utility expenses. The City of San Diego is recognized as one of the most robust rental markets in the county, with consistently high demand for apartment rentals. Historic occupancy rates in this sub-market are estimated to be approximately 97%-100%, while rental prices continue to increase. The neighborhood also boasts excellent access to major transportation routes, including Interstates 5, 163, and 8, providing convenient connections to key employment hubs throughout the greater San Diego area. Please do not communicate with or disturb any of the residents. Unit square footage is estimated based on the number provided by title services.
Location
State CA
County San Diego
Community San Diego
Area Mission Hills (92103)
Zoning RS-1-7
Interior
Heating Natural Gas
Cooling Wall/Window
Appliance Wall/Gravity
Exterior
Exterior Feature Stucco,Wood/Stucco
Fence Partial
Community Features Laundry Facilities
Complex Features Laundry Facilities
Roof Type Composition
Building
Lot Description Public Street,Sidewalks,Street Unpaved
Story 1
Lot Size Range 1-3999 SF
Sewer Sewer Connected
Water Meter on Property
Level or Stories 1 Story
Others
Acceptable Financing Cash,Conventional,Exchange
Space Rent $1,787
Listing Terms Cash,Conventional,Exchange