San Diego, CA 92107,5162 Cape May Avenue
San Diego, CA 92107,5162 Cape May Avenue
San Diego, CA 92107,5162 Cape May Avenue
$1,500,000
Est. payment /mo
Est.Price: ?

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SOLD DATE : 05/30/2018

Key Details

Sold Price $1,500,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Ocean Beach

MLS Listing ID 170031600

Year Built 1935

Property 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. Neighborhoods: Ocean Beach Park Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 5162 Unit # for Unit 2: 5162 & 1/2 Number of Furnished Units: 0 Topography: LL

Location

State CA

County San Diego

Area 92107 - Ocean Beach

Building/Complex Name two old cottages

Zoning R-4

Interior

Heating None, See Remarks

Cooling None

Exterior

Fence Partial

Pool None

View Y/N Yes

View Ocean, Panoramic

Roof Type Composition

Building

Story 1

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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California Regional MLS (CRMLS)
Listed by James Shultz • Coldwell Banker Realty
Bought with Kristin Slaughter • Coldwell Banker Realty

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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