Marcus and Millichap is pleased to present for sale a 7 unit, value add property located in the highly desirable neighborhood of South Park. Constructed in 1950, this well maintained property rests on an approximate 7,000 SF lot and is centrally positioned in a rapidly gentrifying neighborhood.
This property is complete with 4 one-bedroom / one-bathroom units and 3 two-bedroom / one-bathroom units. Units have expansive layouts with many windows for natural light and all units have UV rated, dual pane windows. Tenants enjoy gated entry with access to a large, shared outdoor courtyard. This building also features an on-site laundry facility, additional storage for tenants and 40 year pitched roofs. Optimal parking includes 5 off street parking spaces and 1 single car garage.
Due to this neighborhood being down zoned, there cannot be any more multifamily buildings of this density constructed or any replication of this property in the area. This sale lends investors the rare opportunity to acquire a value add property in one of San Diego's most coveted residential rental markets. Located in the heart of South Park, this complex is within walking distance to Target Express and many local eateries. Being only a few blocks away from entertainment on 30th street and the renowned Balboa Park, this property is centrally located with the investor's longevity in mind.
