Sold Price:

$3,400,000

Cap Rate:

2.45%

Price/SF:

$708.92

Price/Unit:

$680,000

Gross Building Area:

4,796 SF

Close of Escrow:

1/7/2021

Status:

Closed

Submarket:

Coastal

Property Type:

Apartments

Strategy:

Value Add

INVESTMENT SUMMARY

5071-77 Del Monte Ave is a unique five-unit property built originally as seven units, is located oceanfront in the beautiful community of Ocean Beach, San Diego. The building is set on a 7,088 square foot lot and has 6,370 gross square feet, five garages, a laundry room, and private deck patios.

The units benefit from spectacular panoramic views of coastline, beach, and ocean, large living spaces, washer and dryer on-site, attached garages, and beach access.

5071-77 Del Monte Avenue sits less than half a mile from the Ocean Beach Pier. Other nearby attractions include Niagara Avenue Beach, Sunset Cliffs Natural Park, Cabrillo National Monument, Point Loma Light-house, Santa Monica Avenue Beach, and Saratoga Avenue. Additionally, Ocean Beach has countless casual bars & cafés, trendy hotel restaurants, and clothing boutiques.

Listed By:

Aaron Bove
Senior Vice President, Investments
aaronbove@thebovegroup.com
(858) 373-3237