Description
Offered at the lowest price per unit in all of 92104, this bread-and-butter apartment property presents a rare value-add opportunity in a strong rental submarket. The property consists of 12 legal units plus an additional non-conforming studio, offering meaningful upside beyond current in-place income. Current actual income reflects only the 12 legal units; income from the studio is not included in these figures. Ownership has initiated the permitting process for the studio and, once complete, pro forma income reflects the studio as a fully permitted 13th unit. With rental upside across the unit mix and an attractive basis relative to the surrounding market, this offering is well suited for investors seeking both stable current income and long-term upside.
Details
| MLS # | 260016954SD |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 57 |
| Listing Provided By | South Coast Commercial, Inc. | Cody Evans |
Features
| Units | 12 |
|---|---|
| Building(s) | 1 |
| Acreage | 0.14 |
Interior
| Heating Yes / No | No |
|---|---|
| Cooling Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92104 |
| Area | 92104 North Park |
| Listing VS Median (in 92104) | |
Price: $2,820,000 low | high Med: $649,000 On site: 57 low | high Med: 38 | |
Market Activity 92104
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92104 |
| Area | 92104 North Park |
| Listing VS Median (in 92104) | |
Price: $2,820,000 low | high Med: $649,000 On site: 57 low | high Med: 38 | |
