Listing ID: 210015900
Price: $5,250,000
Status: Active
Address: 3140 University Ave
City: San Diego
State: California
Postal Code: 92104
Acres: 0.172
County: San Diego
San Diego
CA
92104
We are pleased to introduce an amazing opportunity to own one of the best, mixed use properties currently available. With 12,022 square feet,The Waldorf Building is rich in history but not deemed historic so the possibilities are endless with this property. Situated in a premier location on a prominent corner surrounded by numerous shops, restaurants, bars, nightlife and dozens of multifamily income properties. This is prime for re-development or keep as an income producing asset. The 7 apartment units are under market rents leaving room for additional units, additional amenities providing upside potential. Very versatile layout offers many possibilities for retail, restaurants or keep "as is." Current owners operate a very popular gym with approximately 7,482 square foot, corner parcel complete with significant upgrades including earthquake retrofitting, plumbing, electrical & gas service. The owners wanted the feel of a traditional New York City basement gym. Other features include a permitted juice bar, large rest room, his & her locker rooms, baths & shower facilities. Named the Waldorf Building after the Waldorf TV store that occupied the retail space from the 1950s to the 1980s. Highlights include: Renovations to building 1949 and 2002 2002 earthquake retrofit completed 100%. 2002 Restoration to electrical, plumbing, drain pipes, gas meter and pipes all new from the street to inside the building. New roof on all three buildings 2019. First floor retail currently built out as gym with juice bar and café seating indoors and outdoors. Ladies and mens locker rooms and showers. First floor can be split into multiple retail stores. Has historically been split into four individual businesses including, restaurants, bars, nightclubs, medical offices and general retail. Mezzanine currently fitness studio. Historically has been apartments. Potential to return to apartment units and add additional units above. Men’s room structure new in 2002, built so that additional apartment units can be added upwards. Apartments currently at under-market rates. Cosmetic upgrades will allow rents to be raised. Laundry room on-site with the ability to upgrade to coin machines. Second floor has previously been medical offices. Can be air bnb. Well-maintained over the 20 years that we occupied the building. Current zoning allows for additional apartment units to be added in the back of the building with little or no height restrictions. Building lower level will be delivered vacant. The 7 apartments have tenants in place.

Primary Features

County: San Diego
Property Type: Commercial Lease
Year Built: 1947
Zoning: COMMERCIAL

Interior

External

Lot Size Area: 7483
Lot Size Square Feet: 7483
Number Of Buildings: 1

Location

Country: US
MLS Area Major: 92104 - North Park

Additional

Co List Agent State License: 01919176
Co List Office State License: 01317331
Days On Market: 84
List Agent State License: 01256537
List Office State License: 01527365
Number Of Units Total: 8
Parcel Number: 4464312000

Financial

Zoning Info


Area Info


© 2021. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Last updated Tuesday, October 19th, 2021.

Based on information from CARETS as of Tuesday, October 19th, 2021 04:58:57 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Listing courtesy of Todd Armstrong, DRE #01256537 from Compass
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Listing courtesy of Todd Armstrong, DRE #01256537 from Compass

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