3289 Ibis Street

San Diego, CA 92103

$812,000
Last Sold Price
2
Beds
2
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

The property located at 3289-3291 Ibis Street consists of 2 units located in San Diego, California. Following the completion of renovations, a 25-30% upside in rental income is projected. This property is located in the desirable Middletown/South Mission Hills neighborhood, in close proximity to Old Town, Bankers Hill, Balboa Park, Little Italy, and Downtown. Constructed in 1957, the property features two 1-bedroom/1-bathroom units, each approximately 480 SF (960 total SF) on a 3,487 SF lot. Additional...The property located at 3289-3291 Ibis Street consists of 2 units located in San Diego, California. Following the completion of renovations, a 25-30% upside in rental income is projected. This property is located in the desirable Middletown/South Mission Hills neighborhood, in close proximity to Old Town, Bankers Hill, Balboa Park, Little Italy, and Downtown. Constructed in 1957, the property features two 1-bedroom/1-bathroom units, each approximately 480 SF (960 total SF) on a 3,487 SF lot. Additional amenities include a private backyard, epoxy coated concrete walkways, drought-resistant landscaping, laminate flooring, a recently upgraded pitched roof, and vinyl fencing. Furthermore, there is a value-add opportunity through the implementation of RUBS, enabling tenants to contribute to a portion of the utility expenses. The City of San Diego is recognized as one of the most robust rental markets in the county, with consistently high demand for apartment rentals. Historic occupancy rates in this sub-market are estimated to be approximately 97%-100%, while rental prices continue to increase. The neighborhood also boasts excellent access to major transportation routes, including Interstates 5, 163, and 8, providing convenient connections to key employment hubs throughout the greater San Diego area. Please do not communicate with or disturb any of the residents. Unit square footage is estimated based on the number provided by title services.
  1. Listed by Matt Robinson • DRE #01491108 • Brokerage DRE #01411216 • MD Real Estate, Inc

Property Details for 3289 Ibis Street

Zoning
RS-1-7
Cross Streets
Horton Ave.
Source Living Area
404
Area
Mission Hills San Diego (MIH)
Lot Size Area
3487
HOA Fee Frequency 1
Monthly
HOA Fee 2
$0
HOA Fee Frequency 2
Monthly
LISTING UPDATED: 11/19/2024 05:05 PM

Property Details for 3289 Ibis Street

StatusSold
MLS #240023719SD
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.08 AC / 3,487 SF
CountySan Diego County

Building Information for 3289 Ibis Street

Stories1Residences-Year Built1957Building Size-Lot Size0.08 AC / 3,487 SF

Property Information for 3289 Ibis Street

Community / Development
Community / Development
  • Complex Name: N/A
  • Number Of Units: 2
  • Amenities: Laundry Facilities
  • Association Fees Include: N/K
  • Builders Tract Name: Middletown
  • Earth Quake Insurance: 0
Structure Info
Structure Info
  • Number Of Stories: 1
  • View: No
  • Security Features: None
  • Water: Meter on Property
  • Sewer: Sewer Connected
  • Water Heater Features: Gas
  • Water District: CITY OF SAN DIEGO
Contract Info
Contract Info
  • Financing: Conventional
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Net Operating Income: $25,061.00
  • Gross Scheduled Income: $40,044
  • Cap Rate: 3.11%
  • Gross Rent Multiplier: $20.28
  • Other Income1: $.00
  • Total Annual Expense: 13782
Land / Lot Info
Land / Lot Info
  • Horse: No
  • Land Included: No
  • Lot Description: Sidewalks, Street Unpaved
  • Lot Location: Other/Remarks
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Wall/Window
  • Heating Type: Natural Gas, Wall
Exterior Features
Exterior Features
  • Pool: No
  • Spa: No
  • Roof: Composition
  • Fence: Partial
Lease Terms
Lease Terms
  • Listing Terms: Cash, Conventional, Exchange
  • Tenant Pays: Cable TV, Electricity, Gas/Propane, Hot Water
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Rent: $1,787.00
  • Unit Actual Rent: $1,787.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Rent: $1,550.00
  • Unit Actual Rent: $1,550.00
  • Unit Projected Rent: $2,250.00
  • Like Units: 1

Property History for 3289 Ibis Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3289 Ibis Street

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 5 to 6
Public - 6 to 8
Public - 7 to 8
Rating
School
Distance
Grant K-8
PublicK to 8

Dana
Public5 to 6

Roosevelt International Middle School
Public6 to 8

Correia Middle School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of MD Real Estate, Inc, Matt Robinson, DRE #01491108

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