1942-54 San Diego Avenue
$3,750,000
6
14
6,781
6,781
$553
Active Under Contract
Description
Huge $450k Price Reduction! 1942-54 San Diego Ave presents 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...Huge $450k Price Reduction! 1942-54 San Diego Ave presents 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 Town and International Restaurant Row and within biking distance of Little Italy & Liberty Station. Additional primary attractions such as Mission Bay, Fiesta Island, Petco Park, Downtown Hillcrest, Balboa Park, Banker’s Hill etc are all within a 10 minute drive.
- Listed by Maxwell Brown • DRE #02127395 • Brokerage DRE #02077455 • Commercial Asset Advisors • mbrown@caacre.com
Property Details for 1942-54 San Diego Avenue
Parking Spaces Total
5
Private PoolNo
Total Units14.0
Building TypeAttached
Lot Size SourcePublic Records
Living Area6781
Assessor Parcel Number451-722-19-00
Property Attached YNtrue
LISTING UPDATED: 11/06/2024 06:30 AM
Property Details for 1942-54 San Diego Avenue
Status | Active Under Contract |
---|---|
MLS # | PTP2404992 |
Days on Market | 79 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
Lot Size | 0.21 AC / 8,994 SF |
County | San Diego County |
Building Information for 1942-54 San Diego Avenue
Stories2Residences-Year Built1960Building Size-Lot Size0.21 AC / 8,994 SF
Property Information for 1942-54 San Diego Avenue
Property History for 1942-54 San Diego Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1942-54 San Diego Avenue
This home is within San Diego Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 5 to 6 | |||
Public - | 6 to 8 | |||
Public - | 7 to 8 |
Rating | School | Distance |
---|---|---|
Grant K-8 PublicK to 8 | ||
Dana Public5 to 6 | ||
Roosevelt International Middle School Public6 to 8 | ||
Correia Middle School Public7 to 8 |
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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