3244-46 Third Avenue Offered at $1,595,000
Two-On-One in Bankers Hill
2 BR, 1 BA House, Studio with full KIT and BA, Large 1+ Car Garage
RARE MULTI-USE OPPORTUNUITY
This beautifully preserved 1,300 SF, 2BR, 1 BA Craftsman delivers all the charm of original details: period millwork, character finishes, and timeless craftsmanship. The house anchors the property with warmth and livability. There is also a large one+ car garage. A 425 SF studio with a full kitchen and bath is in the back. The possibilities for this property are almost endless.
Located in the heart of Bankers Hill just above downtown San Diego to the south, Little Italy to the west, Balboa Park to the East and Hillcrest to the north. Freeway close and convenient to all.
Bankers Hill is one of San Diego’s most walkable neighborhoods shopping, dining and entertainment can be steps away. The property is freeway close and convenient to all.
CURRENT RENTAL INCOME
Front House (1,300 SF) & Garage $3,087 Per Month
Back Studio (425 SF) $1,330 Per Month
Combined Monthly Rent $4,417 Current In-Place
Annual Gross Income $53,004 Current In-Place
Rents are below current market value
PROPERTY DETAILS
• Front House: 1,300 SF, 2BR/1BA
• Back Studio: 425 SF, (with KIT, BA and Patio)
• Total: 1,725 SF
• Price Per SF $924.64
• Site: 5,140 SF
• Zoning: CC-3-6, Tier 2
• Complete Communities Housing Solutions: 8.0 FAR
• Affordable Housing Provisions
• Possible Mixed-Use Development
Whether you are an owner- occupant seeking a lifestyle property that pays for itself, a creative professional drawn to the live-work potential, an investor building a multi-unit portfolio, or a visionary buyer with an eye toward value-add opportunity – this property meets you where you are.
PROPERTY POTENTIAL
Residential Income
As is 2 on 1 Craftsman Home with Garage & Studio
Personal Residence
Single Family Home with Studio as Office, Guest Suite etc.
Possible Value-Add
The garage and studio are connected. Expansion possibilities. Expand the studio and add a second story ADU.
Zoning Future Potential
With CC-3-6 Commercial Zoning a longer-term potential for commercial redevelopment or adaptive use.
Both tenancies are subject to San Diego’s Just Cause eviction protections, and any buyer seeking owner-occupancy or vacant possession should independently verify applicable notice requirements and tenant rights prior to close of escrow. The Front House is leased until 4-2027