$4,199,000
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San Diego Avenue Avenue San Diego, CA 92110
Cluster
Residence
Beds
Baths
...
Bed/Bath
6,781
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Commercial Asset Advisors is pleased to present the opportunity to acquire a 14 unit multifamily asset in the rarely traded and desirable Old Town location. The asset consists of (1) Studio Unit, (11) One Bedroom units, (1) 2 Bedroom / 1 bath, and (1) 3 Bedroom / 1 Bath unit. Select units possess ba...y views. 7 out of the 14 units have received full interior renovations and are leased at full market rents with an in-place cap rate of 4.11%. The remaining units possess notably under market rents allowing for an investor to achieve roughly a proforma 6.1% cap rate on a proven rent roll. Four units at the rear of the property are single story with small rear yards providing tenants with additional privacy. There are (5) garage spaces at the property along with an on-site laundry room. A shared central courtyard could be further improved with a BBQ and table arrangement to provide tenants with additional outdoor utility to enjoy bay views with their gatherings. The property provides tenants with incredible accessibility to the majority of San Diego’s primary entertainment, employment, restaurants, highway access, and activity hotspots. The asset is within short walking distance to Downtown of Old Town and International Restaurant Row and within biking distance of Little Italy & Liberty Station. Additional primary attractions such as Mission Bay, Fiesta Island, Petco Park, Downtown Hillcrest, Balboa Park, Banker’s Hill etc are all within a 10 minute drive.
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MLS#
PTP2404992
Property Type
Cluster
Year Built
1960
Square Feet
6,781
sq. ft
Lot Size
0.21
Sewer
Public Sewer
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