3918-3924 Gresham St - Apartments FOR SALE


San Diego, CA 92109
$5,950,000 USD
858-258-7383
3918-3924 Gresham St, San Diego, CA for Sale
$5,950,000 USD
Apartments - FOR SALE
1/22
null | 3% Cap Rate

3918-3924 Gresham St
San Diego, CA 92109


OVERVIEW

VERY RARE OPPORTUNITY (1 of 49 lots on Sail Bay, in Pacific Beach)! *original owner* 8-unit trophy property is situated on a massive 8,119 sq ft waterfront lot on Sail Bay, in Pacific Beach, San Diego. The unit mix is comprised of (6) spacious 1BR units, and (2) bay-front 2BR units with panoramic views of the bay. The 1957 building has been well maintained by it's owners. Most of the units are in fantastic/original condition - there's plenty of room for upgrades and value-add. Rents are only slightly below market. Upgrades include a NEW ROOF, and NEW PLUMBING. This is a Legacy property that presents an incredible buy and hold opportunity, with long term development potential. For those seeking a safe and lucrative place to park capital, you will not find a better property. Waterfront property in San Diego is incredibly limited and is always in demand.

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$1,099 USD /SF

# OF UNITS

8

PRICE/UNIT

$743,750

CAP RATE

3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,902 SF

ZONING

R3

APN/PARCEL ID

423-381-18

ASK ABOUT THIS PROPERTY

Monroe HeringtonExp Realty Of California IncMore Info
858-258-7383

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Monroe HeringtonExp Realty Of California IncMore Info
858-258-7383

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