930 Felspar St - Apartments FOR SALE


San Diego, CA 92109- Pacific Beach
$13,000,000 USD
858-761-2529
930 Felspar St, San Diego, CA for Sale
$13,000,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

930 Felspar St
San Diego, CA 92109
Pacific Beach


HIGHLIGHTS

  • Rare and sizeable asset in a pride of ownership location in highly desirable Pacific Beach
  • Turnkey investment opportunity with in-place market rents
  • Desirable unit mix of spacious studio and one-bedroom units
  • Steps away from the Pacific Ocean and exceptional walkability to countless restaurants, coffee shops, and bars
  • Abundant off-street parking for tenants
  • Amenities include onsite parking, onsite laundry and community swimming pool

OVERVIEW

Zorbas, Huffman, and Partners of Marcus & Millichap is pleased to present the “The Grand Apartments,” a twenty-four (24) unit property located just off the coast of Pacific Beach, San Diego. Located at 930 Felspar St, the subject property is situated on a 14,077 square foot lot and is comprised of eight (8) studio units and sixteen (16) one-bedroom/one-bathroom units. The property was recently remodeled inside and out with luxury finishes and a modern design. The units have all been upgraded with new cabinets, quartz countertops, vinyl plank flooring, stainless appliances, and lighting fixtures. The property’s landscaping, windows, and common areas have also been upgraded. Pacific Beach is perceived to be among the best multifamily investment neighborhoods in San Diego. Additionally, this property is considered a “walker’s paradise,” boasting a walk score of 93. Residents can enjoy being just a few blocks from the Pacific Ocean and the bustling Garnet and Grand Ave, allowing residents to live an idyllic suburban lifestyle, while being situated a short walk to the beach and a myriad of local shops and restaurants. This property is an opportunity for an investor to purchase a rare turn-key investment property in a high demand rental submarket. The owner will enjoy the security of having a property that is destined to maintain its desirability and increase in value over time. This offering is perfect for a long-term investor seeking a multifamily investment in a premier San Diego location.

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$1,083 USD /SF

# OF UNITS

24

PRICE/UNIT

$541,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Grand Apartments Pacific Beach

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

R3

APN/PARCEL ID

415-602-10

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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