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Shorecrest Apartments 2125 Reed Ave 20 Unit Apartment Building $7,800,000 ($390,000/Unit) 4.16% Cap Rate San Diego, CA 92109
INVESTMENT HIGHLIGHTS
- Prime Pacific Beach Location – Highly desirable coastal neighborhood near Mission Bay
- Strong Rental Market – High occupancy rates & increasing rental demand
- Value-Add Opportunity – Potential for rent increases & property upgrades
- Close to Beach & Bay – Walking distance to Mission Bay, local shops, dining, and entertainment
EXECUTIVE SUMMARY
Exceptional Value-Add 20-unit apartment building in a prime Pacific Beach location at 2125 Reed Ave, featuring all 1-bedroom, 1-bathroom units. This well-maintained property offers tremendous upside in rental income with strong value-add potential. Conveniently located near the beach, Mission Bay, shopping, and dining. An ideal opportunity for investors seeking to capitalize on one of San Diego’s most desirable rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $7,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $390,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 4.16% | Building Size | 10,960 SF |
| Gross Rent Multiplier | 15.49 | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | RM-1-1 - Multi-Family | ||
| Price | $7,800,000 |
| Price Per Unit | $390,000 |
| Sale Type | Investment |
| Cap Rate | 4.16% |
| Gross Rent Multiplier | 15.49 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 10,960 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RM-1-1 - Multi-Family |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Range
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | $2,095 | 625 |
1 1
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (71)
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Shorecrest Apartments | 2125 Reed Ave
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