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Active

1942 San Diego Avenue

Old Town Sd CA, 92110

$4,199,000


Active

6 Beds

Multi-family

Commercial Asset Advisors is pleased to present the opportunity to acquire a 14 unit multifamily asset in the rarely traded and desirable Old Town location. The asset consists of (1) Studio Unit, (11) One Bedroom units, (1) 2 Bedroom / 1 bath, and (1) 3 Bedroom / 1 Bath unit. Select units possess bay views. 7 out of the 14 units have received full interior renovations and are leased at full market rents with an in-place cap rate of 4.11%. The remaining units possess notably under market rents allowing for an investor to achieve roughly a proforma 6.1% cap rate on a proven rent roll. Four units at the rear of the property are single story with small rear yards providing tenants with additional privacy. There are (5) garage spaces at the property along with an on-site laundry room. A shared central courtyard could be further improved with a BBQ and table arrangement to provide tenants with additional outdoor utility to enjoy bay views with their gatherings. The property provides tenants with incredible accessibility to the majority of San Diegos primary entertainment, employment, restaurants, highway access, and activity hotspots. The asset is within short walking distance to Downtown of Old Town and International Restaurant Row and within biking distance of Little Italy & Liberty Station. Additional primary attractions such as Mission Bay, Fiesta Island, Petco Park, Downtown Hillcrest, Balboa Park, Bankers Hill etc are all within a 10 minute drive.

PTP2404992

MLS ID

August 19, 2024

Listed

October 5, 2024

Updated

Map

1942 San Diego Avenue
Old Town Sd CA, 92110

Interior Features

Total Stories

2


Bedrooms

6


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.21 Acres


Lot Features

Curbs

Other Property Details

Days on Market

61


Garage

No


View

No


County

San Diego


Pool

No


Pool Features

None


Zoning

Appraiser

Listing History

Date

Event

Price

9/24/2024

Price change

$4,199,000

-1%

Listed by Commercial Asset Advisors, ,
Listing Contact: 925-872-6746 

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Data last updated 12:38 AM UTC, 10/5/2024

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