Marcus and Millichap is pleased to present 2421-2427 E street, a two parcel, 20-unit multifamily investment opportunity in Golden Hill, one of San Diego' s most historic urban neighborhoods known for its variety in architectural styles, view of the bay and ocean, and close proximity to downtown San Diego and Balboa Park.
2421-2427 E Street is a two building property resting on a 14,008 square foot lot. Built in 1952, this property consists of a desirable mix of all 1-bedroom units, approximately 450 square feet each, totaling 9,000 rentable square feet. Each unit features hardwood flooring, tile counters, renovated bathrooms, newer appliances, and electrical wiring. The two-story property' s exterior has recently been renovated. Renovations include a new wrought iron fence and gates enclosing and securing the property, new concrete entry and side columns covered in wood, new paint on stucco, stairs, and railings, and new matching light fixtures with LED lights for all tenants.
Located in central Golden Hill, the neighborhood' s popular restaurants, shops, and entertainment are all within walking distance from the property. The neighborhood is being rapidly gentrified with new developments and renovated buildings. With the current rents significantly below market, this multifamily complex has tremendous rental upside. This property is an ideal value-add investment opportunity for a new owner to increase rents in the up-and-coming neighborhood of Golden Hill, San Diego.
