KF Real Estate Holdings purchased this 1,060 square foot, wood frame and stucco, single family home in March, 2002. Built in 1952, this 3 bedroom, 1.5 bath home in the City Heights neighborhood of San Diego, California was acquired in generally good condition and required only minimal interior upgrades. The property was able to be acquired at a slight discount and, upon completion of a cosmetic renovation, was resold in May, 2002 for $228,000.

2404 39th Street: San Diego, California 92105

This home is located on a bluff overlooking the intersection of I-805 and the 94 Freeway in the southern portion of the City Heights neighborhood of San Diego, California. City Heights is an older residential and commercial area centrally located a few miles northeast of downtown San Diego and known for its ethnic diversity. The neighborhood has a mixture of smaller single family homes, small to medium sized apartment buildings, and a commercial area of locally owned shops and restaurants centered around the intersection of University and Fairmount Avenues. In recent years the area has experienced gentrification and redevelopment efforts, including a retail center anchored by Albertson’s Grocery and the City Heights Urban Village which consists of the Weingart Branch of the San Diego Public Library, a community and recreational center, Rosa Parks Elementary School, a new San Diego Police substation and a new community college.

Acquired in March, 2002, 2404 39th Street was a 1,060 square foot, wood frame and stucco, single family home built in 1958. This 3 bedroom, 1.5 bathroom property was in generally good condition and required only cosmetic interior upgrades. The property was able to be acquired at a discount and a cosmetic interior renovation focused on upgrading the kitchen and bathrooms was completed in just a few weeks. Highlights of the completed home include hardwood floors, updated kitchen and bathrooms, a large rear deck, and a single car, attached garage. After a brief total holding period of just two months, the home was sold in May 2002 for $228,000.