Address Withheld, San Diego, CA, 92111 | MLS #

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$4,500,000
318 Days Online

Address Withheld

For Sale|Multi-Family|Pending
County:
San Diego
Listed by Kenneth Herskind of Top Gun CRE kenh@topguncre.com

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Rare, 15-unit, 2-building, 3-story multifamily complex built 1987 in Linda Vista. All 3-bed/2-bath units, averaging over 900 SF each. Estimated 13,776 total rentable SF situated on a 15,822 SF corner lot zoned RM-3-9, which allows for base density of 1-unit/600 SF of land. Some units feature semi-private balconies, and there are upper catwalks between the 2 buildings, which provide limited outdoor space for some tenants. Estimated total of (33) off-street parking spaces, some of which are situated off the ample rear cul-de-sac. Property is in average current condition for the area, and the current rents are substantially below market. Four of the units have been more recently refreshed. There is significant upside in rents as units turn and further capital improvements performed to the interiors. Property has Complete Communities zoning overlay and is located in a City-designated Transit Priority Area. This provides an investor with a bonus FAR of 4.0x the lot, and therefore, there is considerable future development potential and relaxed parking requirements for mixed-use developments situated near transit corridors. Located near recently renovated apartment complexes of similar vintage, setting the stage for the value-add potential of this asset. Recent sales comps of like-kind properties suggest an average valuation of well over $300K/unit, with significant upside for astute investors who are able to improve building economics and achieve market rents. Don’t miss this rare opportunity to acquire a larger value-add apartment complex in this highly desirable semi-coastal San Diego location.

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Listing Snapshot
Price 
$4,500,000
Days Online 
318 Days
Bedrooms 
N/A
Inside Area (SqFt) 
13,776 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
15,822 Acres
Year Built 
1987
MLS® Number 
PTP2302669
Status 
Pending
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 months agoListing updated with changes from the MLS®
10 months agoStatus changed to Pending
10 months agoListing first seen online
General Features
Parking Spaces 
33
Number of Stories 
3
Water 
Public
Property Sub Type 
Multi Family
Zoning 
RM-3-9
Listing Conditions 
Standard
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Exterior Features
Lot 
Near ParkWalkstreet
Community Features
Association Dues 
0
Community Features 
Park
MLS Area 
92111 - Linda Vista


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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