4671 Terrace
92116 - Normal Heights San Diego 92116

$2,150,000
Residential Income baths: 0.0 built: 2018

Main Photo: 4671 Terrace in San Diego: Residential Income for sale (92116 - Normal Heights)  : MLS®# 240002850SD
Photo 1: 4671 Terrace in San Diego: Residential Income for sale (92116 - Normal Heights)  : MLS®# 240002850SD
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Photo 46: 4671 Terrace in San Diego: Residential Income for sale (92116 - Normal Heights)  : MLS®# 240002850SD
Status:
Active
Prop. Type:
Residential Income
MLS® Num:
240002850SD
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! This premier investment opportunity in the highly sought-after community of Kensington has undergone over $400,000 in improvements in just the last few years, establishing itself as a beacon of luxury and modernity. Among the most recent investments, $100,000 was dedicated to exterior upgrades, including a new foundation, comprehensive updates to electrical and plumbing systems, installation of new aluminum bronze windows, a new roof, fresh exterior paint, new masonry privacy walls, a new garage door, and a new garage opener, alongside many other enhancements. These extensive renovations transform this property into a rare and desirable income-generating machine, captivating even the most affluent investors. The estate has been meticulously upgraded with seller improvements designed to last a lifetime, featuring premium Ferguson Hansgrohe shower fixtures, 60” faux wood Minka Aire DC fans with wall controls in every room, luxurious Modena Living 6-foot vinyl wood plank floors throughout, and $20K in high-end stainless steel appliances. The oversized bedrooms, illuminated by 6” contemporary dimmable recessed LED lights, add to the allure of this masterfully renovated property, ensuring it dazzles even the most discerning buyers. Completely renovated down to the studs, this property exemplifies a commitment to quality and sustainability. It boasts an impressive passive Net Operating Income (NOI) of $10,000 a month or $120,000 annually, with the potential to escalate to $174,000 through an ADU/garage conversion. Featuring an attractive cap rate of 6.25%, it underscores the strong yield potential and stability of this investment. The projected NET income, based on actual rental income, includes a current 4BD SF house generating $5,000/mo, with the potential to rise to $6,250/mo, alongside a duplex contributing $60,000/yr to the current income, with a projected increase to $70,000. Moreover, a 4th unit garage conversion could add an additional $35,000, elevating the conservative passive annual income to an impressive $180,000. This turn-key investment dream includes high-quality renovations with a 4BD 2BA single-family home and a spacious 1200sf 1BD 1BA duplex, all featuring chef’s dream kitchens with high-end SS appliances, luxury plank flooring, and $1,300 Minka Aire DC fans in every room. The property guarantees an enhanced tenant experience with ample dedi...
Lot Area:
6,210 sq. ft.
Bathrooms:
0.0 (Full:-, Half:-)
Year built:
2018 (Age: 6)
Park Name:
Bella Caza
General Listing Location:
San Diego, 92116 - Normal Heights
County Or Parish:
San Diego
Tenant Pays:
Electricity, Gas, Water
Gross Scheduled Income:
$115,000
Net Operating Income:
$115,000
Cap Rate %:
5.0
Association Fee:
$0
CrossStreet: Adams Ave
Appliances:
Gas Water Heater
Number of Buildings:
3
Senior Community:
No
Pool Features:
None
Private Pool:
No
Levels:
Two
Num Stories:
2
Roof:
Rolled/Hot Mop
# Units:
3
Heating:
Forced Air, Natural Gas
Cooling:
Central Air
Fencing:
Partial
Spa:
No
Total Parking Spaces:
0
Parcel Number:
4406533100
Zoning:
Res. Multi
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Data was last updated February 25, 2024 at 04:40 AM (UTC)