16 of the units operating well as short term rentals. Construction noise from the development to the south side is now complete. Easy to convert back to long term rentals as another option.
830 Park Blvd, a 24-unit apartment building located in the fresh-faced East Village district of San Diego.
Constructed in 1910, the subject property rests on a 5,130 sq ft lot with 11,535 rentable sq ft and is not under historic preservation. 830 Park Blvd has undergone many upgrades and renovated with newly remodeled 24 units and is comprised of (18) studio / one bath and (6) one bedroom / one bath units. The units debut new appliances, fixtures, furniture, and the building has been redone with mostly new electrical, plumbing upgrades, and windows. Amenities include shared on site laundry, secure key card access, secure gated side entry, and street parking. Other attractive attributes include a private rooftop terrace with an inviting full staircase that provides access to a common area for the tenants with a grill, restrooms, and scenic Downtown city views.
In close proximity to Downtown, East Village is an edgy mix of chic reclaimed real estate and modern new construction. This neighborhood has gradually seen Sellers less willing to sell due to values rising while the surrounding neighborhood has newer product types. 830 Park Blvd's central location in East Village boasts a Walk Score of 97 to which it provides convenient access to the I-5, trolley, Petco Park, and Convention Center to tenants and guests alike. Within 10 minutes walking distance of the main strip of bars on 5th Ave, tenants have a plenty of choices to dine and visit the assorted restaurants and everything else Downtown has to offer along the way.
The property is currently operating 16 of it's units with success through Airbnb and the rest of the units are operating as long term rentals while still offering upside potential. A savvy investor has the option to run the property in it's current operation, convert all the units to long term rentals, or convert all the units to short term rentals for
maximum income. 830 Park Blvd is a low maintenance property that has been well kept and represents a piece of the original East Village district thus making it a rare asset. The subject property is perfect for a savvy investor to acquire an opportunity that provides a tremendous amount of upside potential.
