Courtesy of Daniel W. Withers 310-365-5054
Property Description
BUYER FAILED TO PERFORM AT NO FAULT TO SELLER. Matthews Real Estate Investment Services is pleased to exclusively present this 2-Unit property with (2) 2-bedrooms/1-bathroom units in Bankers Hill, with one of the units being Non-Conforming. This property is zoned commercial, CC-3-4, which has multiple uses per city zoning code. Opportunities for retail, office and a potential third unit would be ideal for this location. A walker’s paradise & Walk Score (91), this property provides all the convenience to Downtown & Little Italy nightlife, Balboa Parks Attractions, and access Interstate 5/Pacific Coast Hwy. The units are significantly below market. A new buyer can capitalize on bringing rents up, with approximately 83% rental upside. This is an ideal site for short-term rental located just across the Highway from Little Italy. Bankers Hill is seeing lots of activity in relation to new apartment development showing the strength of the neighborhood, positioning this properties location for long term growth.
Open House
Property Details and Features
-
Bathrooms
- 2 total bathrooms
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Bedrooms
- 4 total bedrooms
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Building
- Built in 1925
- Building area total: 2339
- 1 number of building
- 2 stories total
- Living area: 0
- Living area units: Sqft
- Building area units: Sqft
- Building name: Duplex
- 2 total units
- “Other/Remarks”
- “2 Story”
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Cooling
- “Central Forced Air”
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Expenses
- Operating expense: $22,775
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Fence
- “Other/Remarks”
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Income
- Gross scheduled income: $43,320
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Listing
- Listing ID: 250028621
- List price: $995,000
- 68 days on market
- Listing contract date: 2025-05-25
- MLS area major: Metro Central
- Special listing conditions: “Call Agent”
- “Other/Remarks”
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Location
- Subdivision: Downtown Area (DOWN)
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Lot
- Size units: Acres
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Property
- Property subtype: Res Income 2-4 Units
- Property type: Residential Income
- Zoning: CC-3-4
-
Roof
- “Other/Remarks”
-
Security Features
- “N/K”
-
Tenant Pays
- “Electricity”
- “Gas/Propane”
