Pleased to present The Catalina located at 237 Spruce Street in San Diego, California. The 14-unit apartment complex is located in the highly desirable neighborhood of Bankers Hill and boasts a Walk Score of 85. Originally built in 1913 and renovated in 2005, the property sits on a 5,171 square… Read More foot lot and the building measures approximately 8,724 square feet. The unit mix consists of (1) two bedroom / one bathroom unit, (12) junior one bed / one bath units, and a newly constructed studio. All junior one bedroom units have pocket doors separating the bedroom area from the living room and are significantly larger than typical units from this vintage. The property has been meticulously well-maintained with various capital improvements completed by current ownership. The exterior of the property has been updated with dual pane vinyl windows, fresh paint, and a fully rebuilt fire escape on the north side of the building. Both the electrical system and drain lines have been upgraded, as well as a newly upgraded sewer line with an epoxy liner. Attractive tenant offerings include secure gated entry, on-site laundry, and a third floor rooftop deck with expansive views of the San Diego Bay. Electricity is separately metered reducing operating costs to the owner. Through a more extensive interior renovation, an investor can bring current rents to market and maximize overall cash flow. Located only two blocks from Fifth Avenue and three blocks from Balboa Park (which also hosts the San Diego Zoo), the property is centrally located to all the best both Bankers Hill and Hillcrest. Read Less
Listing Snapshot
Days Online
21
Last Updated
Property Type
Mixed Use
MLS Number
250041480SD
30 Days Snapshot Of 92103
$1.07M
-28%
(avg) sold price
19
-36%
homes sold
85
+4%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
2 buildings
Expenses
Operating expense: $105,784
Income
Net operating income: $188,302
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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