San Diego, CA 92102,3217 Island Ave
San Diego, CA 92102,3217 Island Ave
San Diego, CA 92102,3217 Island Ave
$540,000
Est. payment /mo
Est.Price: ?

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4,791 Sqft Lot
SOLD DATE : 06/22/2020

Key Details

Sold Price $540,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Subdivision Logan Heights

MLS Listing ID 200018376

Year Built 1920

Lot Size 4,791 Sqft

Property Description

Fantastic 2 unit property in Logan Heights. Front house is a 3bdrm, 1.5bath detached home, back unit is an upgraded studio built from the ground up with vaulted ceilings. Both units have their own yard and parking. Projected rent is $2200. Back unit projected rent is $1500. Ability to build a third unit and make property a triplex. Property is located in an opportunity zone, read supplement for more info This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” Through this program, investors can achieve the following three significant tax benefits: 1. Deferral of Gain: tax on capital gains following disposition of property are deferred if such gains are invested in a “Qualified Opportunity Fund” within 180 days of disposition until the earlier of the date on which the subsequent investment is sold or exchanged, or December 31, 2026; 2. Up to 15% of Taxable Gain Extinguished: 10% of the tax on the gain invested in the 0QOF is eliminated after 5 years and an additional 5% (for a total of 15%) is eliminated after 7 years; and 3. Elimination of Gain on Investment in Fund: if the investment is held in the QOF for at least 10 years, taxes on the appreciation in value of the investment in the QOF are eliminated. ALL INFORMATION PROVIDED IS DEEMED RELIABLE BY THE SELLER. IT IS THE BUYER'S RESPONSIBILITY TO PERFORM ALL INSPECTIONS AND VERIFY ALL INFORMATION INCLUDING BUT NOT LIMITED TO: NUMBER OF UNITS, PERMITTED ROOMS, SQUARE FOOTAGE, EXPENSES, AND ALL OTHER BUYER DUE DILIGENCE BEFORE THE CLOSE OF ESCROW Neighborhoods: Grant Hill Other Fees: 0 Unit # for Unit 1: 3217 Unit # for Unit 2: 3219 Number of Furnished Units: 0

Location

State CA

County San Diego

Area 92102 - San Diego

Building/Complex Name None

Zoning R-2:MINOR

Interior

Heating Natural Gas

Cooling See Remarks

Exterior

Roof Type Composition

Building

Story 1

Others

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

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California Regional MLS (CRMLS)
Listed by Leah Greenwood • Compass
Bought with Evan Morris • Orion Management & Realty Inc.

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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