Listing ID: 210025417
Price: $6,000,000
Status: Pending
Address: 1435 Felspar Street
City: San Diego
State: California
Postal Code: 92109
County: San Diego
San Diego
CA
92109
Apartment Realty Group (ARG) is pleased to present the “Star Pine Apartments”, a unique opportunity to acquire a 10-unit luxury multifamily complex in Mid-Pacific Beach in San Diego. Constructed in 1965 and extensively remodeled in 2019, the “Star Pine Apartments” rests on a 9,370 SF lot and offers 8,864 SF of net rentable area. The “Star Pine Apartments” is comprised of 9 large and luxurious 2/Bed 2/Bath units and a large 1/Bed 1.5/Bath unit. This property has undergone extensive renovations which has led it to become a high-income producer with low maintenance costs. Its central Pacific Beach location is near transportation corridors, shopping, restaurants, nightlife, beaches and Mission Bay. The quality of this unique asset, coupled with its location and amenities, provides ease of management, high income and significant appreciation for many years to come. Please do not walk on the property or disturb tenants. Thank you.

Primary Features

County: San Diego
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale
Zoning: R-3

Interior

External

Number Of Buildings: 1
Parking Total: 10
Phase: 10

Location

Country: US
MLS Area Major: 92109 - Pacific Beach

Additional

Days On Market: 11
List Agent State License: 01089213
List Office State License: 01352336
Number Of Units Total: 10
Parcel Number: 42309104

Financial

Cap Rate: 3.66
Gross Scheduled Income: 341660
Net Operating Income: 219859
Operating Expense: 118385

Zoning Info


Area Info


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Listing courtesy of Gary Urtiaga, DRE #01089213 from Apartment Realty Group (ARG)
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Listing courtesy of Gary Urtiaga, DRE #01089213 from Apartment Realty Group (ARG)

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