7342 Girard Ave
La Jolla, CA 92037
Multifamily Property For Sale · 8 Units

Marcus & Millichap is pleased to present 7342 Girard Avenue, a rare multifamily investment opportunity with development potential located in the heart of beautiful La Jolla, California. The property comprises eight legal residential units, however three of the units were converted to office space and are occupied by Consor Intellectual Asset Management. The remaining apartment units include one 3-bedroom/2-Bath, and four 1-bedroom /1-bath units. The property features private patios, an on-site laundry room, as well as a driveway large enough for five vehicles. La Jolla is a renowned seaside community in southern California, located just to the North of San Diego's Pacific Beach. The property's location on Girard Avenue is just steps away from a myriad of bars, restaurants, coffee houses, and boutique shopping, and is just several blocks away from the stunning La Jolla Coastline. The new owner of 7342 Girard Avenue will have several options to increase the value of this superbly located asset. With tremendous rental upside, the new owner can upgrade units and raise rents in one of the most high-end rental markets in San Diego County. Additionally, the property has the rare zoning RM-3-9, which allows for the development of up to 13 units with one of the highest FAR requirements in San Diego County. With the potential to upgrade units, raise rents, or re-develop high end condos, this property is one of the best located value-add opportunities in San Diego. * Three commercial units are proforma rents based on being converted back to residential.