Listing ID: 220008485
Price: $7,750,000
Status: ACTIVE
Address: 2121 Thomas Ave
City: San Diego
State: California
Postal Code: 92109
County: San Diego
San Diego
CA
92109
Pleased to present a rare opportunity to acquire a highly renovated, luxury community in the Pacific Beach neighborhood of San Diego. Board House Villas is comprised of 10 total apartment units offering 6,609 rentable square feet. Originally constructed in 1970, this property has undergone an extensive renovation completed in 2022 including interior, exterior, major systems, and many additions.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Cooling: Central Forced Air Elec
Heating: Central Forced Air Elec
Number of Baths (1): 1
Number of Baths (2): 1
Number of Baths (3): 1
Number of Bedrooms (1): 2
Number of Bedrooms (2): 1
SqFt of Improvement: 6609
SqFt Source: Owner
Stories: 2 Story
Unit Type: Apartment

External

Entry Only: No
Number of Units: 10
Number of Units (1): 3
Number of Units (2): 5
Number of Units (3): 2

Location

Country: United States
Market Area: Coastal South
Zip/Area: PACIFIC BEACH (92109)

Additional

Class: COMMERCIAL-RES INCOME
Have: 10 Units
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 409200
Actual Operating Expense: 131464
Cap Rate Actual: 3.51
Cap Rate Projected: 4
Gross Equity: 7750000
Gross Multiplier: 18.94
Price/Unit: 775000
Projected Gross Multiplier: 17.22
Projected Gross Scheduled Income: 450120
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Unit Rent (1): 3,917
Unit Rent (2): 3410
Unit Rent (3): 2650

Zoning Info


Area Info


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Listing courtesy of Marcus & Millichap

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