This incredible value-add opportunity in the heart of Pacific Beach is an amazing investment opportunity. This well-maintained 11-unit apartment building offers a mix of 8 studios, 2 one-bedroom units, and 1 two-bedroom unit on a 6,251 square foot R-3 zoned lot. Located just blocks from the beach and Garnet Avenue,… Read More the property boasts a Walk Score® of 91 and provides tenants with easy access to restaurants, shops, nightlife, and public transportation. Onsite amenities include 12 surface parking spaces, onsite laundry, and separate electric meters for each unit. The two-bedroom unit is currently vacant, offering immediate upside potential. With strong rental demand and below-market rents, this asset presents an excellent opportunity for investors looking to reposition a coastal multifamily property in one of San Diego’s most desirable beach communities. See attached Memorandum in Documents. Read Less
Listing Snapshot
Days Online
37
Last Updated
Property Type
Other
Lot Size
0.14 Acres
Year Built
1960
MLS Number
PTP2504300
30 Days Snapshot Of 92109
$1.34M
-16%
(avg) sold price
26
-21%
homes sold
55
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1960, Building area total: 6,050, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
StreetLights, Sidewalks
Expenses
Insurance expense: $3,200, New taxes expense: $13,033, Operating expense: $77,642, Trash expense: $1,800, Water sewer expense: $3,200
Income
Gross income: $206,040, Net operating income: $139,150
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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