3996 Teak St, Logan Heights

$995,000

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3 Beds
2 Baths
1,368 Sqft
.15 Acre
1 Garage

Incredible opportunity awaits with this charming two-story single-family home on a corner lot. Property is Zoned for Multifamily and Multiple Units can be built here. Property is also located in a Transit Priority zone with an Expedited Application Process and Reduced Fees. Originally constructed in 1949, this residence features a delightful layout with 3 bedrooms and 2 bathrooms. The upper level, accessible via the main entrance on Teak St, offers 2 bedrooms, 1 bath, a spacious remodeled kitchen, and an inviting dining and living area with gleaming hardwood floors. Step outside onto the expansive outdoor deck, perfect for hosting gatherings and enjoying outdoor leisure. Convenience is key with a single-car garage and tandem driveway parking available. The lower level, with a separate entrance on 40th St, presents an additional 1 bedroom and 1 bath, providing versatile options for extended family living or rental income potential. What sets this opportunity apart is the ability to build Multiple Multifamily Units or ADU's. Property is located in a Federal Opportunity Zone providing Capital Gains Tax Relief to Failed 1031 Exchange Investors, Capital Gains from Business Sales, Stock Sales, and many other Capital Gains from Business Investments. Lot size spans of 6,600 sq feet, and includes alley access. Property Located in Community Lending Program-Discount rates up to 1.5% based on qualifying terms-available through select lenders. Don't miss out on the chance to own a home with endless possibilities for expansion and income generation!

Essential Information

MLS® #
PTP2400817
Price
$995,000
Bedrooms
3
Bathrooms
2.00
Full Baths
2
Square Footage
1,368
Acres
0.15
Year Built
1949
Type
Residential
Sub-Type
Single Family Residence
Status
Active

Community Information

Address
3996 Teak St
Area
92113 - Logan Heights
City
Logan Heights
County
San Diego
Zip Code
92113
Senior Community
N

Community Features

Biking, Curbs, Park, Sidewalks, Suburban

Amenities

Parking Spaces
3
# of Garages
1
View
Park/Greenbelt
Pool
None

Interior

Interior Features
Bedroom on Main Level
Cooling
None
Fireplaces
None
# of Stories
2
Stories
Two

Exterior

Lot Description
0-1 Unit/Acre

School Information

District
San Diego Unified

Additional Information

Date Listed
February 8th, 2024
Days on Market
94
Zoning
RM 1-1

Listing Details

Agent
Assaf Avissar
Office
Coldwell Banker West

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Assaf Avissar - Coldwell Banker West

Based on information from California Regional Multiple Listing Service, Inc. as of May 17th, 2024 at 2:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.