2401 2407 Island Avenue, San Diego, CA 92102
Property
Sold January 2025
Listing Agent: Jeff Elden (DRE #00921343) · Listing Office: Siemienowski & Associates · Contact: 858-866-0750 · Bought with: Anthony Mendes · The Mendes Company · MLS #240024400SD · Source: CRMLS
About this property
• Presenting one of the BEST Located 4 Unit Complexes in Sherman Heights • Potential of a 2 Bedroom, 2 Bath ADU on vacant portion of the lot • Great Value Add Potential • 2nd Floor Units have Views of Coronado Bridge and Downtown San Diego • Directly across the Street from Sherman Heights Elementary School • Unit Mix Two – 2 Bedroom, 1 Bath Units & Two – 1 Bedroom, 1 Bath Units • Located in Sherman Heights and Grant Hill Historic District • One of the Lowest Priced 4Plexes in Sherman Heights / Grant Hill • Projected GRM of 10 and Projected CAP rate of 6.8 Sherman Heights is a Great Place to live. Sherman Heights has easy access to downtown San Diego, and access to major highways and public transportation. Yet the lifestyle is low key. It is easy to imagine coming home to this charming neighborhood with Victorian and Craftsman-style homes and Walkable tree-lined streets. This 1908 Sherman Heights two-story apartment 4-Plex is located at the corner of 24th Street and Island Avenue. The building has a hipped roof, overhanging eaves and a boxed cornice. Each unit has a Decorative (but inoperable) Fireplace Surround. There are 2 interior staircases as well as a shared exterior staircase. The historic architecture of 2401-07 Island and its “good bones” make this fixer-upper ready to be restored to its former glory. A vacant portion of the lot allows potential adding ADUs. This is a unique investment opportunity.
Listing description from the January 2025 sale, as reported to CRMLS.
Sale history