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1065-1071 Grand Ave - East Grand 4 Unit Apartment Building Offered at $2,395,000 at a 2.87% Cap Rate San Diego, CA 92109
Investment Highlights
- Vacation Rental Income
- 4 Garages
- 3.5 Blocks to the Beach in PB
- Possible Garage-to-ADU Conversion
Executive Summary
This is a 4-unit property with 4 garages in PB and only 3.5 blocks to the ocean. All units consist of 2 bedroom, 1 bath, 825 sqft with private patios. All are residential units totaling 3,300 sqft on a 6,245 sqft lot. Seller is selling property nextdoor with same configuration (MLS 260013552). Current rents are extremely low. CAP can be 4.5% at $3,500 a month rent w/ no updating. Also, may be potential for garage-to-ADU conversions. This provides a rare opportunity to own multifamily real estate just steps from the funnest beach in San Diego, Pacific Beach. The front unit is currently an STVR (unit pictured) and the 3 others are long term tenants. There are still STVR licenses available in the city of SD! ...DO NOT DISTURB TENANTS
Property Facts
| Price | $2,395,000 | Property Type | Multifamily |
| Price Per Unit | $598,750 | Building Size | 3,300 SF |
| Sale Type | Investment | Average Occupancy | 1% |
| Cap Rate | 2.87% | No. Stories | 2 |
| Gross Rent Multiplier | 22 | Year Built | 1960 |
| No. Units | 4 |
| Price | $2,395,000 |
| Price Per Unit | $598,750 |
| Sale Type | Investment |
| Cap Rate | 2.87% |
| Gross Rent Multiplier | 22 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 3,300 SF |
| Average Occupancy | 1% |
| No. Stories | 2 |
| Year Built | 1960 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 825 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
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1065-1071 Grand Ave - East Grand
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