Listing ID: 220009042
Price: $4,995,000
Status: ACTIVE
Address: 1478 Hornblend St
City: San Diego
State: California
Postal Code: 92109
County: San Diego
San Diego
CA
92109
Pleased to present for sale an 8-unit value add apartment complex in the Pacific Beach neighborhood of San Diego. Constructed in 1969, this property rests on a 6,240 SF lot and offers 5,120 of rentable SF. 1478 Hornblend St is comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units. In addition, this property has two double garages facing the alley that can converted into two ADU studio units. One of the unit’s interiors has been recently renovated and the other seven lightly renovated within the last few months. The property is fully furnished and currently rented as short-term vacation rentals. Investors may continue to operate as is, rent as monthly rentals, or further renovate the property to increase rents. *6.23% cap rate is based on current operations as short term vacation rentals.

Primary Features

County: San Diego
Price Before Reduction: 5100000
Price Reduction Date: 2022-06-30T20:12:50+00:00
Property Type: Commercial-Residential Income

Interior

Number of Baths (1): 1
Number of Baths (2): 1
Number of Baths (3): 1
Number of Bedrooms (1): 2
Number of Bedrooms (2): 2
Number of Bedrooms (3): 1
SqFt of Improvement: 5120

External

Entry Only: No
Number of Units: 8
Number of Units (1): 1
Number of Units (2): 2
Number of Units (3): 5

Location

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

Additional

Class: COMMERCIAL-RES INCOME
Have: 8 Units
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 586224
Actual Operating Expense: 164021
Cap Rate Actual: 6.23
Gross Equity: 4995000
Gross Multiplier: 8.52
Price/Unit: 624375
Sale/Rent: For Sale
Sales Restrictions: N/K
Short Sale: no
Unit Rent (1): 9155
Unit Rent (2): 6456
Unit Rent (3): 5357

Zoning Info


Area Info


This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, noncommercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego MLS. Data updated on Friday, September 30th, 2022 01:38:44 PM.
#IDX-detailsPropertyPhoto, #IDX-modernMain, #IDX-detailsHead, .IDX-detailsshowcaseSlides, #IDX-detailsHead, .IDX-detailsshowcaseSlides
Listing courtesy of Marcus & Millichap

Request More Information - Listing ID 220009042

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Data services provided by IDX Broker
{"page":"listing","idxID":"c010","listingID":"220009042","extra":"1478-Hornblend-St-San-Diego-CA-92109","type":"moreinfo"}
https://www.century21award.com
details.php
https://search.century21award.com
details
http://century21award.idxbroker.com/idx/results/listings?pt=sfr