2024-2030 Montgomery Ave - Apartments FOR SALE


Cardiff By The Sea, CA 92007
$3,200,000 USD
619-550-4343
2024-2030 Montgomery Ave, Cardiff By The Sea, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/12
null | 4.11% Cap Rate

2024-2030 Montgomery Ave
Cardiff By The Sea, CA 92007


HIGHLIGHTS

  • Fantastic cash flow for a North County San Diego apartment property.
  • Current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM.

OVERVIEW

Top Gun CRE, Inc. is pleased to present 2024-30 Montgomery Ave. Apartments, an exclusive coastal multifamily rental property in the exclusive Cardiff-by-the-Sea community and located west of Interstate 5. The subject property financials are also extremely attractive for a prime coastal rental property with a current 4.11% CAP rate / 5.01% Proforma CAP rate, along with a current 17.09 GRM / Proforma 14.73 GRM. The subject property is comprised of roughly 3,050 SF living space with a total of five units. The approximately 4,984 SF lot provides five surface parking spaces accessed from the rear alley along with spacious common area along the front and side of the property for tenants to enjoy a barbecue and other social activities. The current unit mix includes (1) two bedroom / one bath unit, (3) one bedroom / one bath units, and (1) studio unit. The building was built in 1977, and all units were completely renovated approximately eight years ago by the previous owner. The current owner has maintained all the interiors, exterior, and common areas in meticulous condition. The subject property is also within very close walking distance to some of the very best amenities that Cardiff-by-the-Sea has to offer tenants. For example, the San Elijo State Beach is only a few blocks to the west along with shopping and eating options such as Best Pizza & Brew, Cardiff Seaside Market, Chase Bank, Cardiff Library, Post Office, 7-Eleven, and more local businesses. Finally, this central coastal location provides extremely quick and easy access to Interstate 5, and only a short commute to many of the major activities in the North County San Diego such as the Carlsbad Premium Outlets, Encinitas Ranch Golf Course, Swami’s Beach, Del Mar Racetrack, and numerous shopping and eating options up and down the 101. In summary, this is a fantastic investment opportunity for an owner that values North County coastal assets which historically bring higher rents and offer top-tier amenities and lifestyles for their tenants. Note: 2% Buyer's Broker Fee Offered.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$1,049 USD /SF

# OF UNITS

5

PRICE/UNIT

$640,000

CAP RATE

4.11%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

R-15

APN/PARCEL ID

260-382-50

ASK ABOUT THIS PROPERTY

Kenneth HerskindTop Gun CREMore Info
619-550-4343

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

Kenneth HerskindTop Gun CREMore Info
619-550-4343

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