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$7,995,000
Est. payment /mo
0.29 Acres Lot
UPDATED:
11/27/2024 07:45 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 240009993
Lot Size 0.287 Acres
Acres 0.29
Property Description
Perfect portfolio addition! Ownership is now in the 3rd generation of the same family, so here is your opportunity to acquire a VERY rare offering in North Pacific Beach! Priced well below estate appraisals for immediate sale, these two 16-unit buildings are available on the same block with just one property separating. They are being offered individually or as a pair for the perfect 32-unit acquisition. Excellent unit mix along with great onsite parking. The properties have been professionally managed for a very long time, including highly involved onsite managers. The vast majority of the units have been remodeled and project a current coastal tenant living expectation. Each has an onsite laundry facility, as well as video surveillance. The properties are uniquely set in a multifamily to single family transition neighborhood area, so the overall location feel is far superior to many PB offerings. The asset definitely has "value add" options for future income growth. This property exudes a pride of ownership location and a "Legacy" label, considering the long-term ownership history is clearly appropriate. Excellent documented history for income and expenses, including invested capital and maintenance costs, is available through the well-respected property management firm for the future owner. Call for additional details!
Location
State CA
County San Diego
Area Pacific Beach (92109)
Interior
Heating Radiant
Cooling None
Flooring Other/Remarks
Laundry Leased
Exterior
Exterior Feature Remarks
Parking Features Spaces
Total Parking Spaces 16
Building
Story 2
Lot Size Range .25 through .50 Acres
Others
Acceptable Financing Cash, Cash to New Loan
Space Rent $493,812
Listing Terms Cash, Cash to New Loan
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Listed by Ken Pecus • eXp Realty of California, Inc