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Discover an unparalleled investment opportunity in the heart of Pacific Beach. This rare offering includes 12 units available for only $5.685M, equating to an exceptional value of approximately $473K per door. Each 4 unit building has it's own parcel number allowing for 2-4 unit residential financing with only $1.1M down! The property boasts a diverse and desirable unit mix, featuring six 2-bedroom/1-bathroom units, three 1-bedroom/1-bathroom units, and three studio units. Perfectly positioned, residents have the luxury of being just steps away from an array of restaurants, cafes, and key amenities including Trader Joe's, not to mention easy access to the bay and quick connections to major freeways. The property itself exudes great curb appeal and is currently generating a gross income of $342,540 with a net operating income (NOI) of $260,198. Operating at a 4.6% cap rate, this investment promises both immediate returns and significant potential for future appreciation. A truly exceptional chance to own a piece of Pacific Beach.
Property Details | ||
---|---|---|
Price | $5,685,000 | |
Property Type | Commercial | |
Sub type | SingleFamilyResidence | |
MLS Sub type | Commercial/Residential | |
Parking Spaces | 9 | |
Geographic Data | ||
County | San Diego | |
Latitude | 32.801342 | |
Longitude | -117.23256 | |
Market Area | 92109 - Pacific Beach | |
Address Information | ||
Address | 2037 Garnet Ave, San Diego, CA 92109 | |
Postal Code | 92109 | |
City | San Diego | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | eXp Realty of California, Inc. | |
Listing Agent | Monroe Herington | |
Buyer Agency Compensation | 2.000 | |
Buyer Agency Compensation Type | % | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Virtual Tour URL | https://www.propertypanorama.com/instaview/snd/240010093 | |
MLS Information | ||
Days on market | 2 | |
MLS Status | Active | |
Listing Date | May 8, 2024 | |
Listing Last Modified | May 11, 2024 | |
Tax ID | 424051(0608) | |
MLS Area | 92109 - Pacific Beach | |
MLS # | 240010093SD |
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This information is believed to be accurate, but without any warranty.