Offer Price:

$4,650,000

Cap Rate:

2.62%

Price/SF:

$1,285.44

Price/Unit:

$387,500

Gross Building Area:

5,900 SF

Lot Size:

10,003 SF

Status:

Active

Submarket:

Coastal, Central

Property Type:

Apartments

Strategy:

Core

We are thrilled to present a lucrative value-add investment opportunity in the heart of Pacific Beach, San Diego. This 12-unit apartment building, with a unit mix of four studios and eight one-bedrooms, offers investors the chance to enhance property value through strategic improvements and capitalize on the high-demand rental market in this coveted coastal community.

• Strategic Location: Positioned in the heart of Pacific Beach, the property benefits from proximity to the beach, popular dining destinations, and vibrant entertainment options, ensuring sustained tenant demand.

• Value-Add Potential: Investors can unlock additional value by implementing targeted renovations and upgrades to enhance the overall appeal of the property, attracting higher-paying tenants and maximizing rental income.

• Investment Opportunity: With the potential for increased rental income and property appreciation, this value-added opportunity positions investors for long-term financial success in one of San Diego’s most sought-after neighborhoods.

• Renovation Flexibility: The property’s current condition allows for flexible renovation strategies, catering to both cosmetic updates and more extensive improvements based on investor goals and budget.

Listed By:

Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094