1948 Emerald St - Apartments FOR SALE


San Diego, CA 92109
$5,299,000 USD
858-735-1045
1948 Emerald St, San Diego, CA for Sale
$5,299,000 USD
Apartments - FOR SALE
1/34
null | 4.46% Cap Rate

1948 Emerald St
San Diego, CA 92109


HIGHLIGHTS

  • All units are 2 bedroom 2 baths
  • Parking for 16 vehicles
  • Walkable to neighborhood amenities
  • Patio Areas
  • On-site Owned Coin-Op Laundry
  • Pacific Beach serene residential street

OVERVIEW

Located on a serene residential block in the heart of Pacific Beach and walkable to countless neighborhood amenities, this 8-unit 2-story apartment building sitting on a 9,376sf lot features all 2 bed/2 bath units each with approx. 730 sqft, 2 assigned parking spaces (tandem style), and a shared laundry room with coin operated machines. Renovations vary per unit, and upgrades to finishes and appliances have been made over the years. Units have a great sense of separation and privacy from one another. Tons of open space surrounds the building including large front and rear patio areas, bike storage, and an expansive parking lot off the alley for 16 cars. Building is fully leased with a combination of annual and month-to-month leases in place. This is a fantastic investment opportunity in a proven, inventory-constrained neighborhood near the ocean, bay, and walkable to Kate Sessions Park, groceries, restaurants, cafes, banks, and more. Building was built in 1988 and this seller is only the second owner (purchased from builder). Offering Memorandum provided upon request.

FOR SALE DETAILS

PRICE

$5,299,000 USD

PRICE/SF

$907 USD /SF

# OF UNITS

8

PRICE/UNIT

$662,375

CAP RATE

4.46%

% 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.