5162 Cape May Avenue San Diego, CA 92107
Listing Courtesy of: San Diego, CA MLS / Coldwell Banker Realty / James "Jim" Shultz / Irene Chandler

  5162 Cape May Avenue San Diego, CA 92107

Sold (19 Days)
$1,500,000
2
BED
2
BATH
See Similar Listings

Description

Beachcomber's paradise - directly on an incredibly wide sandy beach. Two old bungalows and a separate garage. Cottages have no monetary value. The roofs, plumbing & wiring all very old. Property grossly under-utilized. One tenant just moved and the other tenant is month-to-month. Cottages have no intrinsic value but the location is sterling. Detached garage is accessed from paved street on the north end of the property. Estate trust sale not subject to court confirmation. The Gross Rent Multiplier and the Cap Rate are useless on this property due to the condition, size and age of the cottages. With one or two new units constructed, the value will be dramatically increased and so will the Cap Rate. The City records show a construction date of 2000. This is way off. We believe the date is closer to 1935.

MLS #:
170031600
Lot Size
3,497 SQFT
Type
Multifamily
Year Built
1935
Views
Ocean, Panoramic Ocean, Panoramic
County
San Diego County
Community
Ocean Beach Park

Listed By

James "Jim" Shultz, DRE #00669672 CA, Coldwell Banker Realty
Irene Chandler, DRE #00640902 CA, Coldwell Banker Realty
Bought with
Kristin K. Slaughter, Coldwell Banker Res. Brokerage
Source
San Diego, CA MLS
Last checked Oct 18 2024 at 9:08 AM GMT+0000
Bathroom Details
  • Full Bathrooms: 2
Subdivision
  • Ocean Beach Park
Lot Information
  • Level
Property Features
  • Cul-De-Sac
  • Curbs
  • Public Street
  • Street Paved
  • West of 101
Heating and Cooling
  • N/K
Exterior Features
  • Wood
  • Other/Remarks
  • Roof: Composition
  • Roof: Other/Remarks
Utility Information
  • Utilities: Meter on Property
  • Sewer: Sewer Connected
  • Fuel: Other/Remarks
Garage
  • Detached
Parking
  • Detached
Stories
  • 1 Story
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