$520,000
$549,900
5.4%For more information regarding the value of a property, please contact us for a free consultation.
3,484 Sqft Lot
SOLD DATE : 04/30/2019
Key Details
Sold Price $520,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Logan Heights
MLS Listing ID 190009920
Sold Date 04/30/19
HOA Y/N No
Year Built 1956
Lot Size 3,484 Sqft
Property Description
Centrally located three on one / triplex in the Logan Heights area. Attractive upside potential & substantial opportunity for a new owner/investor to increase rents through efficient mgmt. & property improvements. Recent owner improvements include plumbing, fixtures, & newer flooring in 2 of the units. Stucco exterior allows for relatively low exterior maintenance. Property is just steps to the trolley line/mass transit & walking dist. to all conveniences. Easy fwy access. All tenants are Month-to-Month. 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 QOF 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. PLEASE VERIFY & CONSULT YOUR TAX/LEGAL Professional. Neighborhoods: Barrio Logan Other Fees: 0 Sewer: Sewer Connected Unit # for Unit 1: 2022.5 Unit # for Unit 2: 2022 Unit # for Unit 3: 2024 Number of Furnished Units: 0 Topography: LL
Location
State CA
County San Diego
Area 92113 - Logan Heights
Building/Complex Name Barrio Logan
Zoning R-4:MULTIP
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Pool None
Roof Type Rolled/Hot Mop
Private Pool No
Building
Story 1
Entry Level One
Level or Stories One
Others
Tax ID 5381600500
Acceptable Financing Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Listing Terms Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Financing Conventional
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Bought with Daniel Lecuna • Big Block Realty, Inc.
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REALTORS® | Lic# 01155199 | 02051274