Listing ID: 210022733
Price: $6,900,000
Status: ACTIVE
Address: 4930 W Point Loma Blvd
City: San Diego
State: California
Postal Code: 92107
SqFt: 13,471
Acres: 0.310
County: San Diego
San Diego
CA
92107
LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own a 7 Unit complex income property in the prime location of Ocean Beach/ Point Loma. Oceanview, Minutes to the Ocean Beach, this property is exactly what you were looking for. With its current condition, the building is brining $30,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. This complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 6 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 units as 3 bedroom 2.5 bath. There are 17 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Ocean Beach, and Point Loma Blvd, close to 100s of shops and restaurants, right next to Sunset Cliffs Blvd, Ocean Beach Volleyball Courts, this place is the prime tourist location. OB Noodle House & Sake Bar, the popular place in town is on the other side of the street. Ocean breeze and Oceanview from 2nd floors.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income
Zoning: R-4:MULTIP

Interior

Cooling: None
Heating: Central Forced Air Gas
Laundry: Owned
Number of Baths (1): 2.5
Number of Baths (2): 2.5
Number of Baths (3): 2.5
Number of Baths (4): 2.5
Number of Baths (5): 2.5
Number of Baths (6): 2.5
Number of Baths (7): 2.5
Number of Bedrooms (1): 4
Number of Bedrooms (2): 4
Number of Bedrooms (3): 4
Number of Bedrooms (4): 4
Number of Bedrooms (5): 4
Number of Bedrooms (6): 4
Number of Bedrooms (7): 3
Number of Stories: 2
SqFt of Improvement: 10162
SqFt Source: Tax Record
Stories: 2 Story
Unit Type: Townhouse

External

Entry Only: No
Lot Size: .25 through .50 Acres
Number of Buildings: 1
Number of Units: 7
Number of Units w/Disposals: 7
Number of Units w/Drapes: 7
Number of Units w/Garage: 7
Number of Units w/Ranges: 7
Number of Units w/Refrigerator: 7
Number Units w/Dishwashers: 7
Parking: Garages
Parking Spaces Total: 17

Location

Country: United States
Market Area: Coastal South
Zip/Area: OCEAN BEACH (92107)

Additional

Age: 1995
Class: COMMERCIAL-RES INCOME
Have: 7 Townhouse Units
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 360000
Actual Operating Expense: 2000
Cap Rate Actual: 3.5
Cap Rate Projected: 7
Gross Equity: 6900000
Gross Multiplier: 19.16
Monthly Rent Total: 30000
Number of Leased Apartments: 7
Price/Unit: 985000
Projected Gross Scheduled Income: 756000
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Tenant Pays Electric: Y
Tenant Pays Gas: Y
Tenant Pays Water: N
Terms: Cash, Other/Remarks
Unit Rent (1): 4250
Unit Rent (2): 4250
Unit Rent (3): 4250
Unit Rent (4): 4250
Unit Rent (5): 4250
Unit Rent (6): 4250
Unit Rent (7): 4250
Unit Rent Total (1): 4250
Unit Rent Total (2): 4250
Unit Rent Total (3): 4250
Unit Rent Total (4): 4250
Unit Rent Total (5): 4250
Unit Rent Total (6): 4250
Unit Rent Total (7): 4250

Zoning Info


Area Info


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