San Diego, CA 92113 2033 S 40Th St

Update - Back on market due to sewer line inspection revealed damaged cast iron. Seller in process of replacing. Front house 2033 the tenants have moved out and back house 2031 the tenants are moving out end of March. Great opportunity to house your extended family on one large lot. Front house is a single level 3 bedroom, 2 bath with inside laundry, 3 year new kitchen-cabinets-appliances-countertops. Also 3 year new luxury vinyl flooring throughout. Parking for two vehicles on the property in front. Large front, side yard and backyards for the whole family to play in. Back standalone house is an adorable, 1 bedroom, 1 bath home with side and front yards and parking for 2 to 3 vehicles. This home is accessed through the alley and is separated from the front house with a gated fence. This cute house is in decent condition but could benefit from a full cosmetic remodel. Great location just a short 10-minute drive to downtown San Diego As a legal duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. SEE SUPPLEMENT... ...As a duplex or 2 on 1 there are many excellent possibilities for adding additional units on the property. Current ADU code allows adding 2 detached ADU's. Under the city’s bonus density program, you can build 2 additional ADUs one that meets low to moderate income rent requirements. This will allow you to build a bonus ADU with no rent restrictions for a total of 4 ADU’s. These units would fit nicely in the middle of lot between the front & back houses. In addition, the garage conversion just needs a small kitchen to be legally converted into a studio JADU that can be rented out separately. Properties in this area don't come up very often and when they do they disappear quickly. Extremely strong rental area. Just two minutes from the 5 freeway and 8 minutes to downtown San Diego. Mature tree in front yard keeps the house really cool in the summer months. SUPPLEMENT: Owner purchased as an REO/Bank Foreclosure in 2009 so very little information was disclosed/available to buyer. Previous owner converted garget to living space permits unknown. Current owner added full bathroom to this garage bedroom. Entire front home is occupied by the same family. Much of the MLS information is estimated including but not limited to year bult and legality of garage conversion. Property is in a flood zone. Each home is insured separately $848 for 2033 and $463 for 2031 annually. NOTE: There have been no floods, even with all the rain we had early 2023 since owner purchased in 2009. Current zoning is RM 1-1 - Allows FAR of .75 - Lost size = 6140 sq ft x .75 = 4605 buildable square feet Front house 2033 is 1130 sq ft including the garage conversion Back house 2031 is 480 sq ft Total existing sq ft = 1610 4605 sq ft buildable – 1610 existing = 2995 sq ft left to build The .75 FAR allows for many ADU options. Contact agent for more information. Owner is a CA licensed real estate agent.