1501 Robinson Ave, San Diego, CA 92103

Property Description

AN INVESTORS DREAM! BIG UPSIDE POTENTIAL BY FINISHING CONDO MAP (aka SUBDIVISION OF PROERTY). SEE SUPPLEMENT FOR MORE DETAILS. TWO SEPERATE HOMES SIDE BY SIDE WITH LARGE PATIOS IN A PARK LIKE SETTING! GOOD RENTAL HISTORY/INCOME AND WELL MAINTAINED. THIS HOME ALSO INCLUDES EXTRA STORAGE, W/D AND TANDEM DRIVEWAY PARKING. 1 BEDROOM HOME FEATURES STACKABLE W/D AND BEAUTIFUL PATIO WITH LOTS OF ROOM FOR ENTERTAINING. PRIME HILLCREST LOCATION, GOOD CASH FLOW, AND UPSIDE POTENTIAL BY TURNING 1 PARCEL # INTO 2! Seller has spent over $80,000 in engineering and city/county fees to complete a condo conversion (condo parcel map) on property. Project cycle is still open with the city through March 2014. Seller is willing to transfer all engineering work to buyer including project account with the city of San Diego (less deposit on file). According to the owner's last review with the city, the project is approximately 90% complete. Only a few needed items for completion including (but not limited to) parcel map for an updated review from engineer, a tax certificate, and subdivision guarantee to the city. The city will then have the mylars (map) signed and the owner will need to have cc&r's made. Seller will provide more info with accepted offer. Buyers to verify all details of property condition and subdivision process to their satisfaction prior to close of escrow. Projected rents not guaranteed and estimated based on surrounding 1 - 3 bedroom rents in a 1 mile radius in the past year as of July 2012 Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 1501 Unit # for Unit 2: 1505 Unit 1 Parking Spaces: 0 Unit 2 Parking Spaces: 2 Number of Furnished Units: 0