Sold
3874-80 Riviera Dr
Pacific Beach CA, 92109
$5,930,000
Sold
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
October 2, 2024
Updated
Map
3874-80 Riviera Dr
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 |
---|---|---|
9/26/2024 | Sold | $5,930,000 |
7/15/2024 | Pending | — |
Listed by eXp Realty of Southern California, Inc., Jim McInerney,
Listing Contact: 858-480-9945
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Data last updated 4:57 AM UTC, 10/2/2024