1050-1060 Scott Street

San Diego, CA 92106

$9,600,000
Price
24
Beds
24
Baths
13,296 Sq. Ft.
$722 / Sq. Ft.
13,296
Sq. Ft.
$722
per Sq. Ft.

Description

Welcome to 1050-1060 Scott St, an unparalleled investment opportunity in the heart of the prestigious Point Loma Marina area! This extraordinary 8-unit residential income property comprises eight luxurious two-story townhouses, each offering 3 bedrooms, 2.5 baths, plus a versatile optional 4th bedroom. Built in 2002, this gem boasts a prime location, mere minutes from Downtown San Diego, Ocean Beach, and the breathtaking Sunset Cliffs. Enjoy the perfect synergy of urban convenience and coastal serenity....Welcome to 1050-1060 Scott St, an unparalleled investment opportunity in the heart of the prestigious Point Loma Marina area! This extraordinary 8-unit residential income property comprises eight luxurious two-story townhouses, each offering 3 bedrooms, 2.5 baths, plus a versatile optional 4th bedroom. Built in 2002, this gem boasts a prime location, mere minutes from Downtown San Diego, Ocean Beach, and the breathtaking Sunset Cliffs. Enjoy the perfect synergy of urban convenience and coastal serenity. Currently yielding a robust 4% cap rate with tremendous potential for increased returns through short-term rentals or Airbnb, possibly boosting the cap rate to an impressive 7%+. This property is a financial powerhouse waiting for the right investor to unlock its full potential. Each unit is thoughtfully designed with hardwood flooring, spacious layouts, master bedrooms with en-suite bathrooms, and convenient in-unit laundry facilities. The recent exterior stucco renovations enhance its stunning curb appeal, while the overall condition offers a unique opportunity for personalized upgrades. The expansive layout provides ocean views from the second floor of most units, making it an irresistible draw for discerning tenants. Residents enjoy the convenience of underground parking and ample street parking. Situated just a block from the Bay and Shelter Island Drive, this property is perfectly positioned near the San Diego Yacht Club, Liberty Station, Silver Gate Yacht Club, and the serene Lucy Evans Memorial Garden. The vibrant Point Loma Village offers a plethora of dining, shopping, and outdoor activities, including the iconic Sunset Cliffs Natural Park, renowned for its hiking trails, tide pooling, and breathtaking sunset vistas. With no HOA or Mello-Roos fees, this property stands as an exceptional investment in one of San Diego’s most sought-after neighborhoods. Whether you're looking to capitalize on immediate income or enhance the property to maximize future returns, this is your chance to own a prime piece of real estate in the thriving Point Loma market. Seize this rare opportunity to own a prestigious income property in the highly coveted Point Loma Marina area. Act now and let your investment dreams set sail with 1050-1060 Scott St!
  1. Listed by Ava Khamooshi • DRE #02061463 • Brokerage DRE #02061463 • AK Broker • 619-212-0856
  2. Listed by Angelique Ghadishah • DRE #02211915 • Brokerage DRE #02061463 • AK Broker

Property Details for 1050-1060 Scott Street

Parking Spaces Total
23
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
13296
Assessor Parcel Number
531-373-05-00
Property Attached YN
true
LISTING UPDATED: 09/20/2024 07:06 AM

Property Details for 1050-1060 Scott Street

StatusActive
MLS #NDP2405898
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2002
Lot Size0.23 AC / 10,077 SF
CountySan Diego County

Building Information for 1050-1060 Scott Street

Stories2Residences-Year Built2002Building Size-Lot Size0.23 AC / 10,077 SF

Property Information for 1050-1060 Scott Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $472,800
  • Gross Scheduled Income: $472,800
  • Net Operating Income: $442,800
  • Gross Multiplier: 20.0
  • Cap Rate: 4.6
Expense Details
  • Operating Expense: $30,000
  • New Taxes Expense: $25,000
  • Insurance Expense: $4,000
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Total Expenses: $30,000
Tax / Assessment Info
  • Tax Tract Number: 000476
  • Tax Lot: 08256
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs, Sidewalks, Street Lights, Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
Exterior Features
  • Entry Location: Street
  • Fence: No
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Additional Parcels Description: 5313730400
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
Parking Info
  • Garage Spaces: 23
  • Parking: No
  • Parking Garage Spaces: 23
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 0
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8

Property History for 1050-1060 Scott Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1050-1060 Scott Street

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Cabrillo Elementary School
Public - K to 4
Dana
Public - 5 to 6
Correia Middle School
Public - 7 to 8
Point Loma High School
Public - 9 to 12
Rating
School
Distance
Cabrillo Elementary School
PublicK to 4

Dana
Public5 to 6

Correia Middle School
Public7 to 8

Point Loma High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1050-1060 Scott Street, San Diego, CA 92106

1050-1060 Scott Street is a multi-family home for sale in San Diego, CA 92106. This property was listed for sale on July 6, 2024 by AK Broker, it's currently listed at $9,600,000. This listing's school district is San Diego Unified School District. Nearby schools include Cabrillo Elementary School, Dana and Correia Middle School. 1050-1060 Scott Street is a 24-bed, 24-bath, 13,296 sqft multi-family home built in 2002.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of AK Broker, Ava Khamooshi, DRE #02061463; AK Broker, Angelique Ghadishah, DRE #02211915

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