$3,750,000
1942 San Diego Avenue San Diego, CA 92110
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$3,750,000
Est. payment /mo
6,781 SqFt
Active
1942 San Diego Avenue San Diego, CA 92110
UPDATED:
10/11/2024 07:53 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,781 sqft
Price per Sqft $553
MLS Listing ID CRPTP2404992
HOA Y/N No
Year Built 1960
Lot Size 8,994 Sqft
Acres 0.21
Property Description
Huge $450k Price Reduction! 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 bay views. 8 out of the 14 units have received full interior renovations. Current gross scheduled annual income is $305,000 yielding a 4.83% cap rate. The remaining units possess notably under market rents allowing for an investor to achieve roughly $383,000 gross scheduled income potential yielding a proforma 7.04% 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 To
Location
State CA
County San Diego
Area Listing
Zoning Mult
Interior
Fireplace No
Laundry Other
Building
Sewer Public Sewer
New Construction No
Others
Tax ID 4517221900
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Maxwell Brown • Commercial Asset Advisors
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