3121-23 Emerson St

San Diego, CA 92106 View Map $1,850,000 Schedule a Tour
Beds4
Baths3
On Site13 days
Year1978
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Robert & Joy Aumann

Robert & Joy Aumann

(858) 752-8730
 
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FOR SALE: 3121-23 Emerson St San Diego CA 92106 | 240013355 |$1,850,000| Call Rob (858) 752-8730 for a TOUR!

Status: Active
Property Type:Res Income 2-4 Units
MLS #:240013355
On Site:13 Days
County:San Diego

Listing Agent/Office

Agent:Thomas Mccartin
Agent Phone:858-373-3100
Office:Marcus & Millichap
We are thrilled to present an exceptional investment opportunity at 3121 Emerson St, in the desirable Roseville neighborhood of Point Loma, San Diego. This 3-unit complex features a 2 Bed / 1 Bath house, a 1 Bed / 1 Bath unit, and a non-conforming Studio / 1 Bath that can be converted back into a third bedroom for the main house. The current owner maintains top-of-market rents through mid-term furnished leases. All units have been extensively renovated with new stainless-steel appliances, updated kitchens, bathrooms, and in-unit laundry for the 1 and 2-bedroom units. Each unit has a private entrance, and the main house includes an attached single-car garage. With a Walk Score of 86, the property is just four blocks from Shelter Island. The base zoning RM-3-7 allows a FAR of 1.8, enabling up to 9,162 square feet of construction for roughly 7-10 units. For more ambitious development, leveraging San Diego's Coastal Zone and Coastal Height Overlay Zone increases FAR to 2.5, permitting up to 12,725 square feet and the potential to build 5-15 units. This flexibility offers significant value for strategic investors. The seller is willing to JV the property with the right buyer to capture the full development potential of the property. The home is exquisitely furnished with high-end furniture, and it can be sold furnished, depending on the purchase price. This is an exceptional opportunity for those looking to invest in a truly remarkable property in a prime location.

Mortgage Calculator

$000 Monthly Payment
Loan and interest only.

Detailed Maps

Community Information

Address:3121-23 Emerson St, San Diego, CA 92106
County:San Diego
Area (MLS Code):Coastal South
Subdivision:Roseville
Zip Code:92106
Community:POINT LOMA

Architecture

Bedrooms: 4
Bathrooms: 3
Year Built:1978
Stories:1
Total Stories: 1
Unit 1: 2 beds, 1 bath. Rent: $5000.0
Unit 2: 1 bed, 1 bath. Rent: $2400.0
Unit 3: 1 bed, 1 bath
Roof: Composition

Features / Amenities

Security Features: Gated Community

Rooms

Dimensions
Master
Bedroom 2
Bedroom 3
Bedroom 4
Bedroom 5
Breakfast Area
Dining Room
Kitchen
Living Room
Family Room
Extra Room 1
Extra Room 2
Extra Room 3

Property Features

Lot Dimensions:4,000-7,499 SF
Complex Features: Gated Community
Zoning:RM-3-7

Tax and Financial Info

Gross Sched Income Actual: $88, 800
Gross Sched Income Projected: $139, 200
Annual Expense Actual: $30, 811
Annual Expense Projected: $30, 811
Cap Rate Actual: $3.05
Cap Rate Projected: $5.48
Terms: Cash, Conventional, Exchange, FHA

Schools

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3121-23 Emerson St San Diego,  CA 92106
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3121-23 Emerson St San Diego, CA 92106
 
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Choose Your Date -- It's Free, Cancel Anytime
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Listing information last updated on June 24, 2024 6:15 AM EST.