5064-5066 Niagara Ave - Apartments FOR SALE


San Diego, CA 92107
$3,950,000 USD
619-255-3233
5064-5066 Niagara Ave, San Diego, CA for Sale
$3,950,000 USD
Apartments - FOR SALE
1/14
null | 2.92% Cap Rate

5064-5066 Niagara Ave
San Diego, CA 92107


HIGHLIGHTS

  • Prime Oceanfront Location
  • Panoramic Ocean Views from Most Units
  • Extreme Upside in Rents Through High End Renovations
  • ADU Potential for One or Two Units Through Garage Conversions
  • Three Single Garages, One Tandem Parking Spot and Two Surface Spots (7 Total Parking Spaces)

OVERVIEW

MD Real Estate Inc and Marcus & Millichap are pleased to present 5064-5066 Niagara Avenue, a 6-unit multi-family property located a few steps from the Pacific Ocean in the highly coveted Ocean Beach neighborhood of San Diego, California. The subject property rests on the water in front of the iconic Ocean Beach Pier and is a half a block from popular Newport Avenue. 5064-66 Niagara Avenue is comprised of two 2-story buildings with 6 partially upgraded, very well-maintained units. Units are comprised of a large 1,320 square foot 3 Bedroom/2 Bath unit and five 1 Bedroom/1 Bath units ranging from 497-619 square feet. Units feature a mix of floating vinyl plank, tile, and hardwood flooring, original hardwood cabinetry (a select few with custom white cabinets), quartz and formica countertops, tiled showers, and high-quality vanities. There are three single car garages in the alley with ADU potential, one tandem parking spot, and two surface spots at the front of the property. The property has great bones and a sophisticated investor should bring all units to highest-end finishes and lease short or long term at market rate.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$970 USD /SF

# OF UNITS

6

PRICE/UNIT

$658,333

CAP RATE

2.92%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

C

APN/PARCEL ID

448-081-30

ASK ABOUT THIS PROPERTY

Dylan WrightMD Real Estate IncMore Info
619-255-3233

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Dylan WrightMD Real Estate IncMore Info
619-255-3233

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