Pending

3874-80 Riviera

Pacific Beach CA, 92109

$5,998,000


Pending

8 Beds

8 Baths

Multi-family

Built in 1970

REFRESHED AND IMPROVED! Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. $347,857 gross in 2023! Projected gross profit over 500k! The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This one-of-a-kind property also includes (1) 2 bed/2.5 bath and (4) 1 bed/1 bath units, currently rented below market value rents. There is potential to increase the NOI by bringing all rents to market rates. The main 4 bed/2.5 bath unit is an extremely successful vacation rental, continuously booked year-round. Additional income from the laundry machines on the property. Each unit is individually metered for electricity, with a new roof installed in 2021. This property has been self-managed for the last 18 years by the current owners, ensuring exceptional care. This rare offering presents a unique opportunity to add a highly sought-after asset to your commercial real estate portfolio. Don't miss out on this chance to acquire a well-maintained property in a prime location.

240012105

MLS ID

May 30, 2024

Listed

July 15, 2024

Updated

Map

3874-80 Riviera
Pacific Beach CA, 92109

Interior Features

Total Stories

2


Bedrooms

8


Total Bathrooms

8


Full Bathrooms

6


Half Bathrooms

2


Appliances

Dishwasher, Range/Oven, Refrigerator, Dryer, Washer


Laundry Description

Laundry Facilities, Unit 1 Hookups


Fireplace

Yes


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Natural Gas, Forced Air

Exterior/Building Features

Roof

Composition

Other Property Details

Area Name

Coastal South


Days on Market

46


Garage

No


View

No


County

San Diego


Water Source

Meter on Property


Pool

No

Listing History

Date

Event

Price

7/15/2024

Pending

Listed by eXp Realty of Southern California, Inc., Jim McInerney,
Listing Contact: 858-480-9945 

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. 

© 2024 San Diego Multiple Listing Service. All rights reserved. 

Data last updated 6:39 PM UTC, 7/15/2024

Powered byLuxury Presence