Listing ID: 230000288SD
Price: $11,500,000
Status: Active
Address: 2874 B
City: San Diego
State: California
Postal Code: 92102
County: San Diego
San Diego
CA
92102
REDUCED PRICE! The Pacifica Apartments is a well-located asset with a desirable unit mix in a turn-key condition. Originally constructed in 1962, the property’s interior and exterior has been continuously improved. A future investor can immediately increase rents to market rents and take advantage of the continued broader regional market growth. Alternatively, an investor could complete a deeper renovation with additional amenities such as in-unit washer and dryers and raise rents significantly. Recent updates to the City of San Diego's development regulations, provides a unique redevelopment opportunity. The property is located in the Complete Communities Area, which would allow a developer to exceed height and density limits of the base zone. Located in the charming Golden Hill neighborhood and surrounding communities of Downtown and South Park, the area is a perfect balance of urban activity and quiet neighborhood charm. Residents are walking distance to restaurants, bars, coffee shops and retail. Proximate to several freeways including I-5, I-15 and the 94 Freeway.

Primary Features

County: San Diego
Price Before Reduction: 12000000
Price Reduction Date: 2023-01-25T20:17:10+00:00
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

Cooling Type: Wall/Window Unit(s)
Cooling: yes

External

Construction Materials: Frame, Stucco
Number Of Buildings: 1
Parking Total: 23

Location

Country: US
MLS Area Major: 92102 - San Diego

Additional

Days On Market: 21
List Agent State License: 00842230
Number Of Units Total: 32
Parcel Number: 5394603200

Financial

Cap Rate: 3.12
Gross Scheduled Income: 636180
Operating Expense: 273165

Zoning Info


Area Info


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Listed by: Eric Comer, DRE #00842230 from Eric D. Comer, Broker

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