4671 73 Terrace Drive
92116 - Normal Heights San Diego 92116

$2,150,000
Residential beds: 4 baths: 2.0 built: 2018

Main Photo: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
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Status:
Active
Prop. Type:
Residential
MLS® Num:
240002764SD
Bedrooms:
4
Bathrooms:
2
Year Built:
2018
Premier investment opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion. This is the ONE! Premier Investment Opportunity located in the sought after community of Kensington outshines with a Passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, demonstrating significant growth potential up to $174,000 via ADU/garage conversion. Highlighted by an attractive Cap Rate of 6.25%, the property underscores strong yield potential and investment stability. There's ample room for rental income growth; the current 4BD SF house brings in $5,000/mo, with projections to increase to $6,250/mo for a total of $75,000/yr net. Upgraded duplex adds $60,000/yr to the current income, anticipated to rise to $70,000, while a potential 4th unit garage conversion could contribute an additional $35,000, pushing the conservative passive annual income to an impressive $180,000. Lifetime-lasting seller improvements have meticulously enhanced this estate, featuring Ferguson Hansgrohe shower fixtures, luxurious 60” faux wood Minka Aire DC fans in every room w/wall controls, top-of-the-line Modena Living 6-foot vinyl plank floors throughout. Over $25K in hi-end stainless steel appliances and spacious bedrooms adorned with 6” contemporary dimmable recessed LED lights ensure even the most discerning buyers would be dazzled. Completely renovated down to the studs, this income-generating machine is a rare find, set to enhance even the most affluent of portfolios. It represents a perfect blend of affluent neighborhood appeal and an Investor’s Dream, offering a multi-unit dream home with exceptional finishes, Significant Income Potential, and room for expansion.Seller may carry.
Total Floor Area:
2,950 sq. ft.
Home Style:
Mediterranean, Modern
Property Sub Type:
Single Family Residence
Property Attached:
No
Lot Area:
6,210 sq. ft.
Bedrooms:
4
Full Bathrooms:
2
Half Bathrooms:
0
Bathrooms:
2.0 (Full:2, Half:0)
Year built:
2018 (Age: 6)
General Listing Location:
San Diego, 92116 - Normal Heights
County Or Parish:
San Diego
Land Lease:
No
Cross Street: Adams Ave.
Floor
Type
Size
Other
-
Bedroom
0 × 0
Bedroom on Main Level
View:
Neighborhood
Appliances:
Counter Top, Dishwasher, ENERGY STAR Qualified Water Heater, Disposal, Gas Water Heater, High Efficiency Water Heater, Microwave, Refrigerator, Water Heater
Accessibility Features:
Safe Emergency Egress from Home, Parking
Other Structures:
Two On A Lot
Senior Community:
No
Interior Features:
Ceiling Fan(s), Granite Counters, Open Floorplan, Stone Counters, Recessed Lighting, Storage, Bedroom on Main Level
Laundry Features:
Electric Dryer Hookup, Inside, Laundry Room
Pool Features:
None
Private Pool:
No
Lot Features:
Corner Lot, Sprinklers In Front, Sprinkler System
Fireplace Features:
Family Room, See Remarks
Patio And Porch Features:
Enclosed, Patio, Stone
Subdivision Name:
Kensington
Levels:
One
Num Stories:
1
Entry Level:
1
Entry Location:
1
Construction Materials:
Stucco
New Constr.:
No
Flooring:
Stone, Tile
Basement:
Sump Pump
Roof:
Flat
# Units In Community:
4
Property Condition:
Updated/Remodeled
Heating:
Forced Air, Fireplace(s), High Efficiency, Heat Pump, Natural Gas
Fireplace:
Yes
Cooling:
Central Air, Electric, High Efficiency
Utilities:
Water Connected
Fencing:
Stucco Wall, Wood
Water supply:
Public
Green Energy Efficient:
Water Heater
Spa:
No
Garage Spaces:
2
Uncovered Spaces:
8
Total Parking Spaces:
10
Parking Features:
Assigned, Driveway, Garage, Off Street
Parcel Number:
4406533100
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  • Photo 6: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    4BD 2BA 1400sf. Renovated 2019. Charming Spanish / Modern home in the twilight hours, exterior lighting casting a warm glow on the NEW natural stone travertine tiles private patio.
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    featuring newly laid, high-quality 18x18 natural stone travertine tiles. The space is enclosed by tall walls ensuring privacy, and is adorned with lush greenery and palm trees, which together create a serene and inviting out
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    60-inch MinkaAire DC ceiling fans $1200/ea, featuring wall controls and remotes for seamless operation throughout the home (every room!) super quiet DC motor, ensuring comfort and reliability
  • Photo 20: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Charming outdoor private patio, set with a four-seater dining table perfect for open-air dining al fresco! eshly stuccoed high privacy walls, offering a serene environment.
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    Spacious guest bath shower / tub combo also featuring lifetime trim Ferguson Hansgrohe triple shower fixtures.
  • Photo 23: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Master ensuite appointed with Ferguson lifetime warranty Hansgrohe triple shower heads fixtures, marble bench, frameless glass shower doors, dimmable recessed lights throughout.
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    Full size LG stacked washer / dryer with dry-clean mode
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    Large walk-in closet
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    South facing private patio
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    Rear tenants of duplex enjoy a charming outdoor patio, set with a four-seater dining table perfect for open-air dining. Enclosed by freshly stuccoed high privacy walls, offering a serene night dining al fresco!
  • Photo 29: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Charming outdoor private patio, set with a four-seater dining table perfect for open-air dining al fresco! eshly stuccoed high privacy walls, offering a serene environment.
  • Photo 30: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Spacious 1BD 1BA 1200sf duplex (565sf/ea) situated across from notable landmarks like the Kensington Library, Starbucks, and Blue Boheme, benefits from its prime location, offering both convenience and cultural enrichment within walking distance.
  • Photo 31: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Fully renovated 1BD 1BA Penthouse featuring solid wood cabinetrY high-end KitchenAid stainless steel appliances. Luxury vinyl plank flooring and includes a 9' marble-topped island with wa with bar seating, b
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    Room is well-lit, ample natural light, and features a modern aesthetic. Flooring lined with luxury vinyl plank flooring, which resembles real hardwood. 9' marble quartz peninsula room for 4!
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    $4000 KitchenAide fridge!
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    Marble quartz counter top, dimmable recessed ights and mirror and recessed lights, dimmable mirror, as well as a stacked gas laundry practicality and modern design
  • Photo 39: 4671  73 Terrace Drive in San Diego: Residential for sale (92116 - Normal Heights)  : MLS®# 240002764SD
    Modern bathroom, textured white 12x24 porcelain tiles, bathtub / shower combo, frameless glass shower doors and a high-end showerhead, complemented by frosted window and built-in wall niches for toiletries.
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Data was last updated February 25, 2024 at 04:40 AM (UTC)