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4671 - 73 Terrace Drive San Diego CA 92116

Posted by on February 10, 2024
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$ 2,295,000

4671 - 73 Terrace Drive San Diego CA 92116
  • Property ID: 668476
  • MLS #: 240002764
  • Bedrooms: 4 4
  • Bathrooms: 2
  • Baths Full: 2
  • Lot size: 6210 sq ft
  • Year built: 2018
  • Status:
  • Type:

Description

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!

Rooms & Units description

  • Family Room Dimensions: x
  • Master Bedroom Dimensions: 17x12
  • Living Room Dimensions: 24x12
  • Bedroom 4 Dimensions: 14x13
  • Bedroom 3 Dimensions: 11x10
  • Kitchen Dimensions: 14x10
  • Units in Complex: 4

View on map / Neighborhood

Location Details

  • Zip/Area: NORMAL HEIGHTS (92116)
  • County: San Diego
  • Neighborhood: Kensington
  • Topography: Level

Property Details

  • Listing Type: Exclusive Right (R)
  • Market Area: Metro Uptown
  • Sale/Rent: For Sale
  • Residential Styles: Detached
  • Stories in Building: 1
  • Terms: Cash,Conventional,FHA,Submit,Seller May Carry,VA
  • Architectural Style: Mediterranean/Spanish,Modern
  • Price per SqFt: $ 778
  • Levels: 1 Story

Property Features

  • Laundry Utilities: Electric
  • Accessibility Features: 2+ Access Exits,Parking
  • Interior Features: Ceiling Fan,Granite Counters,Kitchen Island,Low Flow Shower,Low Flow Toilet(s),Open Floor Plan,Recessed Lighting,Remodeled Kitchen,Shower,Shower in Tub,Stone Counters,Storage Space,Sump Pump,Kitchen Open to Family Rm
  • Roof: Flat
  • Cooling: Central Forced Air,Electric,High Efficiency
  • View: City,Evening Lights,Neighborhood
  • Pool: N/K
  • Exterior: Stucco
  • Fencing: Stucco Wall,Wood
  • Parking Garage: Assigned,Detached,Garage
  • Parking Garage Spaces: 2
  • Parking Non-Garage: Driveway,Off Street
  • Heat Equipment: Forced Air Unit,Fireplace,High Efficiency,Heat Pump
  • Fireplaces(s): 1 FP in Family Room,Other/Remarks
  • Water Heater Type: Energy Star Water Heater,Gas,High Eff. Water Heater,Water Heater Unit
  • Patio: Enclosed,Stone/Tile,Patio
  • Sewer/Septic: Other/Remarks
  • Community: KENSINGTON
  • Laundry Location: Closet Full Sized,Inside,Laundry Room
  • Heat Source: Natural Gas
  • Parking Spaces Total: 10
  • Water: Public

Fees & Taxes

  • Other Fees: 0.0

Miscellaneous

Courtesy of

  • Office Name: Melodie McAlpin, Broker

This style property is located in is currently and has been listed on Blue Chip Realty Group. This property is listed at $ 2,295,000. It has 4 beds bedrooms, 2 baths bathrooms, and is . The property was built in 2018 year.

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