Beautiful Victorian Style Duplex!
It’s a beautiful sunny Saturday morning. You get up and make yourself a warm cup of coffee to sit on the deck and enjoy the San Diego weather. Your dog is excited to go out and play, so your daughter and spouse head on over to the Grape Street dog park. You stay behind and get ready to go to the Balboa Park golf course with your friends, which is only minutes away. When you return home, your family is ready for dinner. As you head to your refrigerator, you realize you aren’t in the mood to cook. Luckily, your spouse surprised you with reservations at the most amazing Italian restaurant, Buona Forchetta. The two of you take a stroll to the restaurant, which is only a couple blocks away.
Upon finishing your dinner, you head over to Hamilton’s Tavern where you meet up with your friends to grab a drink. After a fun night out, you walk back home to your daughter and dog excitedly waiting your return. As your baby-sitter is leaving, she looks back and says, you have one of the most beautiful Victorian style homes on the block. Welcome home to 1334-1336 Dale Street.
(Click Floor Plan To Enlarge)
|Property Taxes (monthly):||$914|
|Est. Insurance (monthly):||$120|
|Current Monthly Rent:||$4,450.00|
|Est. Net Monthly:||$3,416.48|
|Return on Investment:||4.41%|
1334-36 Dale St. – Details:
- Driveway for Multiple Cars
- Outdoor deck
- Shared Washer and Dryer
- Walking Distance to Dog Park, Balboa Golf Course, Restaurants, and much more
Unit 1 (1336):
- 2 Bedrooms
- 1 Bathroom
- Approximately 1,200 sf
- Newer Wood Floors
Unit 2 (1334):
- 2 Bedrooms
- 1 Bathroom
- Approximately 1,000 sf
- Private Outdoor Deck
Text “DaleDuplex” to (619) 916-4900 to Schedule a Showing
Both residences are currently tenant occupied. The bottom residence (1336 Dale Street) is bringing in $2,150 per month. The existing tenant is month to month and has lived there for 2 years now. The top residence (1334 Dale Street) was just re-leased for $2,300 per month. The current rent totals $4,450 with upside potential on the ground level residence. 1336 Dale is the larger of the two homes and market rent is estimated to be somewhere around $2,400 per month.
The owner stated that he has had very low vacancy rates and has never had an issue renting out the property quickly. This location is highly desirable and continues to improve.
This is a great opportunity for you to live in the downstairs unit and keep a tenant in the upstairs portion. With 20% down, the difference between the current rent and the mortgage payment, property taxes and insurance would be approximately $2,650. You could then capitalize on the tax savings from the interest and property taxes paid.
In the future, if you wanted to expand into a larger space, you would be able to easily convert this duplex back into a single family home. You would have a nice home in a great location where single family options of this size tend to run $1,100,000+. There are so many amazing opportunities with this property!