Listing ID: 230001102SD
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. 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 approved by the city to add two ADU studio units. Currently one of the unit’s interiors has been recently renovated and the other seven recently refreshed. Exterior renovations include new paint, dual pane vinyl windows, and drought tolerant landscaping. 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. 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 Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

External

Number Of Buildings: 1

Location

Country: US
MLS Area Major: 92109 - Pacific Beach

Additional

List Agent State License: 01974818
List Office State License: 00530854
Number Of Units Total: 8
Parcel Number: 4230921000

Financial

Cap Rate: 4.35
Gross Scheduled Income: 307800
Operating Expense: 92793

Zoning Info


Area Info


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

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