Las Palmas, constructed in 1986, is an 18 unit apartment complex consisting of eleven 2 bed/1 bath units, six 1 bed/1 bath units, and one studio. The 3 story structure consists of 11,422 rentable square feet situated on a 7,000 square foot lot. The property features an elevator, security entrance, tuck under parking, 6 tandem parking spaces in the front, 6 parking spaces in the rear and 2 laundry rooms. Las Palmas is located in the booming residential sub-market area of North Park. Many units have been renovated and there is additional upside in the rents.
North Park is a neighborhood in Central San Diego, California, on either side of El Cajon Boulevard and near the 805 Freeway. The area is filled with a number of restaurants, coffee shops, boutiques, and artist's studios near Adams Avenue and University Avenue. Live entertainment can be found most nights. Adjacent to Hillcrest and Normal Heights, additional restaurants, bars, coffee shops, and night clubs are within easy reach.
The neighborhood sits in a central San Diego location with a broad spectrum of housing options including cottages, apartments, condominiums, and million-dollar homes. Downtown, Balboa Park, San Diego Airport, Mission Valley, San Diego State University are only a few minutes away. Like other urban San Diego communities, North Park has a high rate of pedestrian activity, relative to other regions of San Diego County. North Park is one of the most diverse communities in San Diego. Businesses and residential neighborhoods alike reflect this diversity. There have been many redevelopment projects by the city of San Diego in North Park and an improvement of the tenant-base over the last decade.
PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS. SHOWN WITH AN ACCEPTED OFFER ONLY. Seller holds an active California Real Estate License. Buyer to verify square footage. Assessor's square footage is 9,217 SF of structure.
