$990,000
$1,100,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
3,484 Sqft Lot
SOLD DATE : 03/06/2020
Key Details
Sold Price $990,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision North Park
MLS Listing ID 190039162
Sold Date 03/06/20
HOA Y/N No
Year Built 1942
Lot Size 3,484 Sqft
Property Description
Beautifully maintained 4 unit property in Cherokee Point. Property consists of (3) 1 bedroom, 1 bath units and (1) 2 bedroom, 1 bath, a 2 car garage and a 1 car garage and 2 additional parking spots. Units to be sold in conjunction with MLS#190039160 (a 3 bedroom 1.5 bath home listed at $600,00). On record they are two separate parcel numbers, but real make-up of property is 5 units. Each parcel can be financed separately to avoid commercial financing. Property is located within an "opportunity zone". "Opportunity zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged." Neighborhoods: Cherokee Point Exterior: Wood/Stucco Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 3711 Unit # for Unit 2: 3713 Unit # for Unit 3: 3715 Unit # for Unit 4: 3719 Number of Furnished Units: 0 Topography: LL
Location
State CA
County San Diego
Area 92104 - North Park
Zoning R-3:RESTRI
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Pool None
Roof Type Composition
Private Pool No
Building
Lot Description Sprinkler System
Story 2
Entry Level Two
Level or Stories Two
Others
Tax ID 4475911500
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Financing Conventional
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Bought with Tom Brooks • Maya Cima, Broker