offered at $2,495,000
Status: Active // Property Type:
County: San Diego

Property Description

An exceptionally well located investment opportunity 100 yards to the beach and 4 blocks north of Garnet Av. in Pacific Beach. The property is comprised of 5 units that have operated at 99% occupancy over the last 5 years. There are immediate opportunities to increase returns through interior renovation or short term rentals. Discover the fact that rental rates are different west of Mission Blvd. thanks to proximity to the ocean and Garnet Av. nightlife. The special zoning RM 5-12 only applies to about 20 parcels here, surrounded by hotels. It allows visitor accommodations and it is the only place in Pacific Beach that permits 1 unit to be built per 1000 square feet. It means that use as vacation rentals should be a right with that zoning and 6 new condos could be built there. Click D for documents to the left above to see the Offering Memorandum. Located on a Quiet Side Street All Tenants are on Leases All have High Security Deposits No Unlawful Detainers in 10 Years Some Rents Under Market

Listing Courtesy of Martin McGee, Martin McGee

  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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Based on information from California Regional Multiple Listing Service, Inc. as of December 30, 2018. 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. 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, 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.