3071 Hawthorn

Premier 4+1 unit Cottage Style property in an irreplaceable San Diego location near Fern and 30th St surrounded by boutique coffee roasters, breweries, classic restaurants, and walking distance to the famous Balboa Park! Ownership can deliver the entire rear building empty at closing consisting of the primary 2 bedroom unit, the downstairs 1 bed bonus unit, and a huge yard! Allowing an ideal owner-occupy scenario or allowing an investor to immediately renovate those units and capture the current historical high market rents. 3071 Hawthorn can provide a significantly stronger than average market return at an incredible 4.26% cap rate on as-is unit conditions or 4.81% if the empty rear building is renovated, and 5.95% proforma cap rate after all units are renovated. All units possess mid to large size large private yards with no more than one shared wall and under market rents. The property offers an investor the ability to achieve attractive residential financing with additional income from a Bonus unit to increase cashflow. The Bonus unit was established out of legal square footage of the rear house. Additional asset value can be achieved through streamlined ADU permitting guidelines or by constructing a ground-up ADU in the center of the parcel. Alternatively, an owner occupier can combine these two rear units to make an ideal detached 3 bedroom 2 bath house with a huge yard. Attractive financing quote in hand for a 30% downpayment at a 4.825% interest only rate for 5 years fixed! Or 25% downpayment at a 4.75% rate 5 year fixed with a 30 year amortizing schedule.