Highlights

• Beautifully restored/upgraded Craftsman 2 bed 2 bath SF House
• Apts built in 1980's 2 bd-1 bath
• Agressive rental/living market (rents increasing) South of University Ave.

• Near DownTown, Balboa Park, Hillcrest, Morley Field
• Owner may finance upto 80% LTV

Description

UPDATE: 09 FHA conforming loan limit for this property =$1,050,500. A beautifully upgraded/restored 1920 era Craftsman 2bed-2bath home of 1375 sf located at 3806 Mississippi Street on the corner. House has beautiful hardwood floors, original craftsman built-ins like drop down desk, fireplace mantle, and dinng room buffets/glass doored cabinets. Modern touches include a green house, large deck, master bath spa tub, and master bedroom balcony.
2174 Wightman is a newer (1980's) two-story 3 unit apartment complex, each unit with 2 bedrms and one bath, rented for $1,250 per month. Complex includes 4 garages (rented separate from the apartments at $150 per month each) Gross income from 2174 Wightman is $4,350 per month for a total annual income of $52,200.
IF purchaser wants a beautiful home, let the Wightman apartments pay the mortgage, and live nearly free, while getting grest tax benefits (depreciation).
IF the buyer wants a quality income property in an aggressive rental/living market on West side of North Park, South of University Ave near Hillcrest, Morley Field and Balboa Park: the House could be leased for $2500 per month for a total gross income in excess of $81,000

Community: NORTH PARK
# Bldgs: 2 Neighborhood: West North Park S of University near HillCrest
Est.Lot SqFt: 6,747 Complex/Park:
Year Built: 1980 Cross Street: Mississippi and Wightman