Listing ID: 220017945
Price: $9,950,000
Status: ACTIVE
Address: 942 Beech Street
City: San Diego
State: California
Postal Code: 92101
SqFt: 5,025
Acres: 0.120
County: San Diego
San Diego
CA
92101
We are proud to exclusively present the sale of 942 Beech Street, a 31-unit apartment building located in the Cortez Hill neighborhood of Downtown San Diego. The property comprises thirty (30) studio apartments and one (1) 2BR/1BA. There are four resident parking spaces available in a basement garage, as well as a coin laundry facility on site. Constructed in 1935, the building has retained much of its original character throughout but the units and all common areas have been beautifully updated. These spacious and ideally located apartment homes easily attract affluent and professional tenants who desire to live in the heart of the city without compromising on quality. Additionally, 28 of the units have been renovated with new kitchens, flooring, ceiling fans, and custom paint.

Primary Features

County: San Diego
Property Type: Commercial-Residential Income

Interior

Number of Baths (1): 1
Number of Baths (2): 1
Number of Bedrooms (2): 2
Number of Stories: 4
SqFt of Improvement: 14382

External

Entry Only: No
Lot Size: .25 Acres or less
Number of Buildings: 1
Number of Units: 31
Number of Units (1): 30
Number of Units (2): 1
Parking Spaces Total: 4

Location

Country: United States
Market Area: Metro Central
Zip/Area: SAN DIEGO DOWNTOWN (92101)

Additional

Amenities: Other/Remarks
Class: COMMERCIAL-RES INCOME
Mandatory Remarks: None Known

Financial

Actual Gross Scheduled Income: 608456
Actual Operating Expense: $242,454
Cap Rate Actual: 3.68
Gross Multiplier: 16.55
Monthly Rent Total: 50100
Other Income Amount: $25,292
Other Income Source: Laundry
Price/Unit: 320968
Sale/Rent: For Sale
Sales Restrictions: N/K
Unit Rent (1): $1,408 - $1,800
Unit Rent (2): $2,420
Unit Rent Total (1): 38335
Unit Rent Total (2): 2420

Zoning Info


Area Info


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Listing courtesy of Marcus & Millichap

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