Listing ID: 220027677SD
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
1478 Hornblend St will be delivered VACANT so you can immediately set market rents with no evictions. Approved plans and permits to convert the garages to (2) studio units, approx. 420 SF each, will transfer with the sale making this property 10 units total. This asset is currently operated as an 8-unit short-term vacation rental. *6.24% cap rate is based on current short-term vacation rentals. Call or email for more details. Comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units, this property has two double garages facing the alley that can be converted into (2) ADU studio units. One of the unit’s interiors was highly renovated and the other seven were lightly remodeled in 2022. The property is fully furnished and can convey with the sale. Investors may continue to operate as is, rent on annual leases, or further improve the property increasing rents even further. Pacific Beach is one of San Diego’s most profitable rental markets attracting high-quality and reliable tenants. Located between the neighborhood’s two main streets, Grand Ave and Garnet Ave this property is a short walk to Pacific Beach’s top bars, restaurants, shops, and attractions. With a walk score of 96, 1478 Hornblend St is a rare opportunity to acquire a generational asset in one of Southern California’s most desirable coastal markets.

Primary Features

County: San Diego
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

External

Number Of Buildings: 1

Location

Country: US
MLS Area Major: 92109 - Pacific Beach

Additional

Days On Market: 22
List Agent State License: 01974818
List Office State License: 00530854
Number Of Units Total: 8
Parcel Number: 4230921000

Financial

Cap Rate: 6.24
Gross Scheduled Income: 586224
Operating Expense: 163230

Zoning Info


Area Info


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Listed by: Carson Trujillo, DRE #01974818 from Marcus & Millichap 858-373-3100

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