711 N 61st St - Apartments FOR SALE


San Diego, CA 92114
$1,900,000 USD
415-250-4947
711 N 61st St, San Diego, CA for Sale
$1,900,000 USD
Apartments - FOR SALE
1/20
null | 6.5% Cap Rate

711 N 61st St
San Diego, CA 92114


HIGHLIGHTS

  • Upside to a 7.7% Cap Rate & 9.2 GRM
  • Most Units Have Renovations & New Windows
  • 15,799 Sq Ft Lot With 13+ Parking Spaces

OVERVIEW

711 61st Street consists of 5,782 square feet of structures on a large 15,799 square foot lot. The unit mix is one 2 bedroom / 1 bath, five 1 bedroom / 1 bath, and five studio units. The subject property has three structures and 13 parking spaces. There are 10 legal units and an 11th unit for which permits are unknown. Two studios had been previously converted to 1 bedroom units. The property has onsite laundry and upside in rents as well as ADU potential. The property is in a predominately residential neighborhood. Encanto is a hilly neighborhood located in the southeastern part of San Diego, California. The neighborhood of Encanto is split into two sections, North Encanto (which lies north of Broadway), and South Encanto (which lies south of Broadway). The name Encanto usually refers to the neighborhood of Encanto, but it can also refer to the Encanto Neighborhoods planning area, which consists of Chollas View, Lincoln Park, Emerald Hills, Valencia Park, Encanto, South Encanto, Broadway Heights, and Alta Vista. Encanto is a predominantly a low-density residential community, with commercial and industrial businesses located near major streets. Encanto and the adjacent neighborhoods are going through revitalization with such programs as the Chollas Creek Enhancement Program, which focuses on open space and restoring native vegetation. Encanto's borders include: the San Diego neighborhood of Broadway Heights and Martin Luther King Jr. Freeway (SR 94) on the north, the neighborhood of Alta Vista on the south, the neighborhoods of Emerald Hills and Valencia Park on the west, and the neighborhoods of Skyline and Jamacha, and the city of Lemon Grove on the east.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$329 USD /SF

# OF UNITS

11

PRICE/UNIT

$172,727

CAP RATE

6.5%

% 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

1954

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,799 SF

ZONING

SF-6, San Diego

APN/PARCEL ID

549-052-03

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

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Benn VogelsangNorthmarqMore Info
415-250-4947

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