1948 Emerald St - Apartments FOR SALE


San Diego, CA 92109
$5,195,000 USD
858-735-1045
1948 Emerald St, San Diego, CA for Sale
$5,195,000 USD
Apartments - FOR SALE
1/22
null | 4.4% Cap Rate

1948 Emerald St
San Diego, CA 92109


HIGHLIGHTS

  • Building Size: 5,840 SF
  • Lot Size: 9,376 SF
  • Units: 8 fully leased, all 2 bedroom 2 bath
  • Parking: 8 Tandem / 16 Total
  • Laundry: Shared & Owned Coin Op
  • Neighborhood: Walkable Pacific Beach area, just 1.3 miles from the beach

OVERVIEW

This prime Pacific Beach 8-unit apartment building built in 1988 is situated on a large 9,376 square foot lot with both street and alley frontage, offering ample parking space for 16 cars, presenting significant potential for value-add improvements. The boutique-style complex is located in the highly desirable and walkable Pacific Beach area, just 1.3 miles from the beach. Ideal mix of all 2 bed, 2 full baths which are fully leased. All apartments are corner units providing great separation and privacy. Renovations and upgrades vary across the units including enhanced finishes and appliances. Must-have features please tenants including 2 beds, 2 full baths, 730 sf of living space, 2 parking spaces per unit, and shared coin-operated laundry. With only one resale since construction in 1988, this has proved a sturdy investment as-is and can be even better with your savvy improvements! Walkable to the beach, bay, nearby shops, restaurants, and Kate Sessions Memorial Park.

FOR SALE DETAILS

PRICE

$5,195,000 USD

PRICE/SF

$890 USD /SF

# OF UNITS

8

PRICE/UNIT

$649,375

CAP RATE

4.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

RM-1-1

APN/PARCEL ID

416-531-17-00

ASK ABOUT THIS PROPERTY

Steve CairncrossBerkshire HathawayMore Info
858-735-1045

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Steve CairncrossBerkshire HathawayMore Info
858-735-1045

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.