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6-Units Pacific Beach | 2-Blocks to Ocean 1009-1017 Hornblend St 6 Unit Apartment Building $4,150,000 ($691,667/Unit) 4% Cap Rate San Diego, CA 92109
Investment Highlights
- Prime Coastal San DIego Location - Pacific Beach
- 2 blocks from the Ocean
- Stabilized Asset w/ Strong In-place Income
- Irreplaceable Coastal Real Estate
- Desirable Unit Mix: 1, 2 and 3 Bedroom Units
- Shared Common Area Yard for Tenants to Enjoy
Executive Summary
This is a fantastic opportunity to purchase a renovated coastal 6-unit complex in the high-demand rental market of Pacific Beach. The subject property is located just a couple of blocks from the Pacific Ocean and is conveniently situated between Grand Ave and Garnet Ave near shops, restaurants, cafes and bars. The unit mix consists of (1) 3Bedroom/2Bathroom, (3) 2Bedroom/1Bathroom, and (2) 1Bedroom/1Bathroom units.
Property Facts
| Price | $4,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $691,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4% | Building Size | 3,790 SF |
| Gross Rent Multiplier | 16.39 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1978/2026 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-2-5 & CC-4-2 - Residential | ||
| Price | $4,150,000 |
| Price Per Unit | $691,667 |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 16.39 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,790 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2026 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RM-2-5 & CC-4-2 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,850 | 500 - 663 |
| 3+1 | 1 | $4,900 | 950 |
| 2+1 | 3 | $3,500 | 550 |
Very walkable
80/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 423-092-15 | Improvements Assessment | $884,340 |
| Land Assessment | $3,121,200 | Total Assessment | $4,005,540 |
Property Taxes
Parcel Number
423-092-15
Land Assessment
$3,121,200
Improvements Assessment
$884,340
Total Assessment
$4,005,540
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