Voit Real Estate Services is pleased to present 1440 Thomas Avenue, a superbly located two-story, 8-unit apartment building. Situated just one block south of Grand Avenue with lighter through traffic, just blocks from both the beach and bay while being conveniently close to all that Pacific Beach offers. It is just a few blocks from a Vons and Trader Joe’s shopping center and in close proximity to various restaurants, bars/pubs, and trendy retailers along Grand and Garnet Avenues. Additionally, it is centrally located to most of the schools in the community. WalkScore rates this location as a “Walker’s Paradise, daily errand do not require a car.” Built in 1972, the owner renovated the property in 2021 to ensure SB721 certification compliance.
The Rent Roll and Proforma outline current and projected market rents, indicating a potential 7%+ upside in existing market rent. This goes up substantially by converting the back two-car garages into 350 square feet ADUs. Jumping from 7% to over 20%