Listing ID: 220018148SD
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. The property is currently fully furnished and rented as short-term vacation rentals. Investors may continue to operate as is, rent as monthly rentals, or continue renovating the property increasing rents even further. 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 with plans submitted to the city to add two ADU studio units. Currently one of the unit’s interiors has been recently renovated and the other seven lightly renovated within the last few months. Exterior renovations include new paint, dual pane vinyl windows, and drought tolerant landscaping. Pacific Beach is one of San Diego’s most profitable rental markets which continues to attract high quality and reliable tenants. Located between the neighborhood’s two main streets, Grand Ave and Garnet Ave with a walk score of 96, this property is perfectly situated within a short walk to Pacific Beach’s top bars, restaurants, shops, and attractions. 1478 Hornblend St is very rare opportunity to acquire a value-add asset in one of Southern California’s most desirable coastal markets.

Primary Features

County: San Diego
Property Type: Commercial Sale

Interior

External

Location

Country: US
MLS Area Major: 92109 - Pacific Beach

Additional

Days On Market: 59
List Agent State License: 01974818
List Office State License: 00530854
Number Of Units Total: 8
Parcel Number: 4230921000

Financial

Cap Rate: 6.23
Gross Scheduled Income: 586224
Net Operating Income: 310996

Zoning Info


Area Info


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Listing Agent: Carson Trujillo, DRE #01974818 from Marcus & Millichap 858-373-3100

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