4882 35th, San Diego, CA 92116

Property Description

Presently 2-Income Producing Dwellings. In 2018, the roof to both units replaced as well as new electrical panels installed in conjunction with the installation of solar panels (owned, not leased). 4.5% CAP Rate! Meets the financing standards for FHA203k, Fannie Mae HOMESTYLE or Freddie Mac Renovation loans. It's the perfect DIY adventure! Come view & envision the possibilities! Review supplemental section for more info. The lot itself is zoned RS-1-7 (minimum of 5000 sqft lot) per the COSD Municipal Code Chapter 13 Article 1 for Urbanized Community. Possibility to expand both existing or to create one structure with a total of 3400 sqft to include a garage. This property is located at the northern boundary of the COSD Chapter 13 Article 2 Transit Area Overlay Zone & is exempt from the requirement to provide off street parking for the ADU (4884). In 2018, the roof to both units replaced as well as new electrical panels installed in conjunction with the installation of solar panels (owned, not leased). Recessed lighting located throughout both units. Front Unit: Is a 2-bedroom / 1-bath, 800 sqft dwelling currently rented out at $1800.00/month. Projected rent upwards to $2150.00/month. Possible expansion in livable space upwards to 1200 sqft. In 2018, the cast iron plumbing was replaced with PVC. Presently cast iron piping from the kitchen to the main sewer line. Cut out located in the front yard of the back unit. Living room was recently painted. Wood laminate located in the living room and bedrooms. Tile in the kitchen and bath. Washer & dryer located in the kitchen. Recessed lighting throughout. The foundation was replaced in 2004 and reinforced with rebar. Back Unit: Is a 3-bedroom / 2-bath, 1100 sqft dwelling which recently had been rented out at $1900.00/month. Projected rent upwards to $2200.00/month. Possible expansion in livable space to include the garage (approximately 490 sqft) to 2200 sqft. With the installation of the electri...