703 40th St, San Diego, California 92102, San Diego, 92102 - 5 bed, 2 bath
ACTIVE$899,900
703 40th St, San Diego, California 92102
5Beds
2Baths
1,810Sqft
Lot
Price Vs. Estimate
The estimated value ($908,155.535) is $8,255.535 (0%) lower than the list price ($899,900). This property may be overpriced.
Key pros and cons
Top Pros:
Multi-Unit Investment Opportunity: The property features two homes on one lot, offering significant potential for rental income or multi-generational living, appealing to both first-time homebuyers and seasoned investors.
Top Cons:
Property Age: Built in 1953, the property's age may indicate older systems and infrastructure, potentially leading to higher maintenance costs or the need for significant updates.
Compared to the nearby listings
Price:$899.9K vs avg $800.0K (+$99,900)60%
Size:1,810 sqft vs avg 1,268 sqft87%
Price/sqft:$497 vs avg $72317%
More Insights
Built in 1953 (72 years old).
Condition: Despite being built in 1953, this property has undergone an extensive and very recent renovation, bringing both units to an excellent, move-in ready condition. The kitchens feature modern white shaker cabinets, new stainless steel appliances, quartz countertops, and stylish gold-toned fixtures. Throughout the homes, there is consistent light wood-look flooring, fresh white paint, recessed lighting, and modern ceiling fans. The exteriors also appear newly updated with fresh siding, windows, and contemporary doors. All visible components are virtually new, meeting current quality standards with no signs of deferred maintenance.
Year Built
1953
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$497
HOA
-
Days on market
-
Sold On
-
MLS number
250043150SD
Home ConditionExcellent
Features
View-
About this home
I present to you the incredible investment opportunity to own two homes on one lot in the heart of the culturally rich and vibrant neighborhood of Mt Hope! The front unit on this property features 1,138 sqft of living space and a desirable 3-bedroom, 1-bath floor plan, while the rear unit offers a spacious 2-bedroom, 1-bath floor plan with 12ft high ceilings and an abundance of natural light and privacy for its future residents. This is the perfect opportunity for a first-time homebuyer seeking additional rental income or a seasoned investor looking at expanding their portfolio. Owning this home will allow you to enjoy the unbeatable convenience with easy access to major freeways like the 15, 805, and 94, placing you minutes from Downtown, Coronado, local beaches, job centers, and all that San Diego has to offer. In just a short stroll you can be at Dennis V. Allen Park, Mt. Hope Community Garden, local markets, and the Costco on Market St. This once-in-a-generation opportunity combines comfort, location, and investment potential all on one property.
Nearby schools
7/10
Chollas/Mead Elementary School
Public,•K-5•0.6mi
7/10
Rowan Elementary School
Public,•K-5•0.8mi
4/10
Baker Elementary School
Public,•K-5•1.0mi
3/10
Emerson/Bandini Elementary School
Public,•K-6•1.4mi
3/10
Porter Elementary School
Public,•K-6•1.4mi
3/10
Kimbrough Elementary School
Public,•K-5•1.5mi
3/10
Chavez Elementary School
Public,•K-5•1.5mi
4/10
Rodriguez Elementary School
Public,•K-5•1.5mi
5/10
Balboa Elementary School
Public,•K-5•1.8mi
3/10
Burbank Elementary School
Public,•K-5•1.9mi
4/10
Rancho de la Nacion School
Public,•K-6•2.0mi
4/10
El Toyon Elementary School
Public,•K-6•2.0mi
5/10
Sherman Elementary School
Public,•K-5•2.1mi
5/10
Central Elementary School
Public,•K-6•2.6mi
4/10
Golden Hill K-8
Public,•K-8•1.0mi
4/10
Logan K-8
Public,•K-8•1.6mi
2/10
Knox Middle
Public,•6-8•1.6mi
3/10
Memorial Scholars & Athletes School
Public,•6-8•1.8mi
3/10
Clark Middle School
Public,•6-8•2.0mi
3/10
Perkins Elementary School
Public,•K-8•2.5mi
5/10
Roosevelt International Middle School
Public,•6-8•3.0mi
4/10
National City Middle School
Public,•7-8•3.0mi
4/10
Granger Junior High School
Public,•7-9•3.4mi
4/10
Lincoln High School
Public,•9-12•1.1mi
5/10
Hoover High School
Public,•9-12•3.0mi
4/10
Crawford High School
Public,•9-12•3.3mi
5/10
Sweetwater High School
Public,•9-12•3.8mi
Price History
Date
Event
Price
07/08/21
Sold
$640,000
12/30/20
Sold
$428,000
07/30/10
Sold
$128,000
Condition Rating
Excellent
Despite being built in 1953, this property has undergone an extensive and very recent renovation, bringing both units to an excellent, move-in ready condition. The kitchens feature modern white shaker cabinets, new stainless steel appliances, quartz countertops, and stylish gold-toned fixtures. Throughout the homes, there is consistent light wood-look flooring, fresh white paint, recessed lighting, and modern ceiling fans. The exteriors also appear newly updated with fresh siding, windows, and contemporary doors. All visible components are virtually new, meeting current quality standards with no signs of deferred maintenance.
Pros & Cons
Pros
Multi-Unit Investment Opportunity: The property features two homes on one lot, offering significant potential for rental income or multi-generational living, appealing to both first-time homebuyers and seasoned investors.
Prime Location & Accessibility: Situated in the vibrant Mt Hope neighborhood, the property boasts excellent freeway access (15, 805, 94), placing it minutes from Downtown, Coronado, beaches, and job centers, enhancing its desirability.
Strong Appreciation History: The property has shown substantial value appreciation over recent years, indicating a robust market and strong investment potential for future growth.
Value Proposition: The current listing price is slightly below the estimated property value, suggesting a favorable buying opportunity for potential purchasers.
Unique Unit Features: The rear unit offers desirable features such as 12ft high ceilings, abundant natural light, and privacy, adding to its appeal for residents.
Cons
Property Age: Built in 1953, the property's age may indicate older systems and infrastructure, potentially leading to higher maintenance costs or the need for significant updates.
Limited Bathroom Count: With a total of 5 bedrooms across two units but only 2 bathrooms, the property may present convenience challenges for multiple occupants or tenants.
Unspecified Condition/Upgrades: The description does not detail recent renovations or the overall condition of the property, which could imply potential for deferred maintenance or necessary cosmetic/functional updates.