1501 India Street 205, San Diego, California 92101, San Diego, 92101 - 2 bed, 3 bath
ACTIVE$1,099,000
1501 India Street 205, San Diego, California 92101
2Beds
3Baths
1,800Sqft
Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Investment Opportunity: This rare 'Live/Work' condo offers dual income streams from both residential and commercial tenants, boasting an attractive 5.2% CAP rate and significant long-term income potential.
Top Cons:
High Monthly Association Fee: The association fee of $900.7 per month is substantial and will significantly impact the net operating income and overall profitability for an investor.
Compared to the nearby listings
Price:$1.10M vs avg $699.0K (+$400,000)78%
Size:1,800 sqft vs avg 1,056 sqft94%
Price/sqft:$611 vs avg $69421%
More Insights
Built in 2002 (23 years old).
Condition: Built in 2002, this property is well-maintained and move-in ready. The kitchen features modern stainless steel appliances, black granite countertops, and well-kept wood cabinetry, suggesting updates since original construction. Flooring consists of clean hardwood in living areas and carpeting in bedrooms. While the cabinet style is not the absolute latest trend, the overall condition is functional and appealing, with no immediate renovations required. The property aligns with the 'Good' category's description of being well-maintained with minimal wear and tear, and functional systems.
Year Built
2002
Close
-
List price
$1.1M
Original List price
$1.1M
Price/Sqft
$611
HOA
$900.7
Days on market
-
Sold On
-
MLS number
250043886SD
Home ConditionGood
Features
View-
About this home
RARE PURCHASE & INVESTMENT OPPORTUNITY IN LITTLE ITALY, this "Live/Work" condo offers a 2 bedroom residential condo with an additional 475 sq. ft. retail storefront that has an active commercial business at $3,090 mo. The residential condo has a long-term tenant w/rent at $3,450 per month, in addition to a great long-term income at $3,000 mo. CAP rate is at 5.2 and is located in best area of Little Italy There are only 5 live/work condos in this community in the heart of Little Italy, and Little Italy has one of the strongest tourist & business climates in downtown San Diego. Live/Work Condo in the heart of Little Italy offers 1,800 total sq. ft. total with approx. 1,325 sq. for residential condo and 475 sq. ft. for retail storefront. New tenant in retail storefront with a 5 year lease with over $100,000 invested in tenant improvements. Residential condo offers amazing living in Little Italy, steps away from main Piazza and San Diego's popular Farmers Market on Saturday!!
Nearby schools
5/10
Washington Elementary School
Public,•K-5•0.2mi
5/10
Roosevelt International Middle School
Public,•6-8•1.8mi
7/10
Point Loma High School
Public,•9-12•3.7mi
Price History
Date
Event
Price
04/13/17
Sold
$900,000
05/27/16
Sold
$100,000
Condition Rating
Good
Built in 2002, this property is well-maintained and move-in ready. The kitchen features modern stainless steel appliances, black granite countertops, and well-kept wood cabinetry, suggesting updates since original construction. Flooring consists of clean hardwood in living areas and carpeting in bedrooms. While the cabinet style is not the absolute latest trend, the overall condition is functional and appealing, with no immediate renovations required. The property aligns with the 'Good' category's description of being well-maintained with minimal wear and tear, and functional systems.
Pros & Cons
Pros
Exceptional Investment Opportunity: This rare 'Live/Work' condo offers dual income streams from both residential and commercial tenants, boasting an attractive 5.2% CAP rate and significant long-term income potential.
Prime Little Italy Location: Located in the 'heart of Little Italy,' an area renowned for its strong tourist and business climate, offering high demand, excellent walkability, and proximity to key attractions like the Piazza and Farmers Market.
Stable Commercial Income: The retail storefront benefits from a new tenant with a 5-year lease and over $100,000 invested in tenant improvements, ensuring committed and stable commercial revenue.
Consistent Residential Income: The residential condo has a long-term tenant, providing reliable and consistent rental income without immediate vacancy concerns.
Unique Live/Work Offering: As one of only five 'Live/Work' condos in the community, this property presents a unique and versatile opportunity for owner-operators or investors seeking a distinct asset in a vibrant urban setting.
Cons
High Monthly Association Fee: The association fee of $900.7 per month is substantial and will significantly impact the net operating income and overall profitability for an investor.
Niche Market Appeal: While unique, the 'Live/Work' configuration caters to a specific buyer demographic, which may limit the pool of potential buyers and affect market liquidity compared to traditional residential or commercial properties.
Listing Data Inconsistencies: The 'on_market_date' and 'modified_timestamp' are listed in the future (2025), indicating potential data entry errors or an unusual pre-listing status that requires clarification.