3042 Broadway
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3042 Broadway

D

San Diego, CA 92102

$1,950,000

Beds

Baths

Sqft

Year Built

1927

Days on Market

42

Property Type

Multi-Family

HOA/mo

N/A

MLS ID

250045343SD

This property is in San Diego (92102). View neighborhood stats →

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About This Property

Rarely available 4-unit multifamily investment property located in the Golden Hill's area of San Diego.This unique 1927 era 2-story building features a large fully fenced front yard, elevated off street, with lush grass and a gravel pathway. The back of the property includes a covered veranda area for barbecues, entertaining or simply relaxing.The units consist of two 2BR/ 1BA units averaging 825 sq. ft. and two 2BR / 1BA with office units averaging 907 sq. ft.Each well maintained unit has a private entrance and includes stove and refrigerator as well as historical design touches including hardwood floors, period tile in kitchens and baths and vintage built in cabinetry elements.Five off-street parking spaces are located at the rear of the property and the building also includes coin-op laundry room and hookups for expansion to double stacked laundry.Golden Hills is a popular and architecturally historic neighborhood near Balboa Park and Downtown San Diego.With easy access to the I-15, I-94 and I-805 freeways as well as shopping and dining. The area is a tremendously desirable location for both investors and tenants.This multifamily complex is an ideal turn key property for a new owner looking for investment opportunities in the desirable and flourishing neighborhood of Golden Hill. Possible tax benefits if registered with the city for Mills Act Historic Property designation. Rarely available rare 4-unit multifamily investment property located in the Golden Hills area of San Diego.This unique 1927 era 2-story building features a large fully fenced front yard, elevated off street, with lush grass and a gravel pathway. The back of the property includes a covered veranda area for barbecues, entertaining or simply relaxing.The units consist of two 2BR/ 1BA units averaging 825 sq. ft. and two 2BR / 1BA with office units averaging 907 sq. ft.Each well maintained unit has a private entrance and includes stove and refrigerator as well as historical design touches including hardwood floors, period tile in kitchens and baths and vintage built in cabinetry elements.Five off-street parking spaces are located at the rear of the property and the building also includes coin-op laundry room and hookups for expansion to double stacked laundry.Golden Hills is a popular and architecturally historic neighborhood near Balboa Park and Downtown San Diego.With easy access to the I-15, I-94 and I-805 freeways as well as shopping and dining. The area is a tremendously desirable location for both investors and tenants.This multifamily complex is an ideal turn key property for a new owner looking for investment opportunities in the desirable and flourishing neighborhood of Golden Hill. Possible tax benefits if registered with the city for Mills Act Historic Property designation.

Mortgage Calculator

Est. Monthly Payment

$12,379

Principal & Interest$9,860
Property Tax$1,950
Insurance$569
%($390,000)
%

Investment Score

0D
Est. Monthly Rent
$4,270
Monthly Cashflow

Rent − PITIA

$-8,109
Full Cashflow

Incl. vacancy, PM, maint, capex

$-10,716

Mortgage (P+I)
$9,860
Cap Rate
-0.53%
Cash-on-Cash
-32.97%
DSCR

Need ≥ 1.25 for DSCR loan

0.34
Break-even Rent
$18,187

NOI (Annual)
$-10,273
Price-to-Rent

Lower = better for investors

38.1

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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