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$ 1,199,000
Est. payment | /mo
6,433 Sqft Lot
$ 1,199,000
Est. payment | /mo
6,433 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 260017358SD
HOA Y/N No
Lot Size 6,433 Sqft
Property Sub-Type Mixed Use
Property Description
Rare opportunity to acquire a five-unit apartment investment with immediate cash flow, value-add potential, and flexible long-term strategies. Situated on a prominent corner parcel with Commercial CC-4-5 zoning within a Transit Priority Area, the property offers multiple paths to increase value in one of San Diego's strongest rental markets. Convert the lower level back to retail, office space, salon, personal services and retain the tenants upstairs. Perfect for small business owners as a live/work space. Or maximize income through rental stabilization while creating plans for a mixed-use redevelopment project. The property currently features two tenant occupied 2-bedroom/1-bath apartments on the second floor, two tenant occupied 1-bedroom/1-bath apartments on the main level, and one vacant studio on the first floor, providing immediate lease-up potential. Current income is supported by long-term tenancy, while below-market rents offer significant opportunity for future growth. (see suppl) Additional income potential includes an owner-owned coin-operated laundry room and four storage rooms that may be leased separately to increase cash flow. Six off-street parking spaces and a shared rear courtyard with pergola. Prior to residential use on the main level, there was a construction office and hair salon, so the new owner could potentially convert back to retail space. The upper-level units feature private exterior entrances, while the lower level offers convenient ground-floor access. Commercial CC-4-5 zoning and the property's location within a Transit Priority Area provide added flexibility for investors seeking long-term appreciation and future redevelopment potential. Buyers are encouraged to verify all zoning, permitted uses, and development opportunities with the City of San Diego. Conveniently located with quick access to Downtown San Diego, major freeways, public transportation, shopping, dining, and employment centers, this is a compelling opportunity for investors seeking stable in-place income with meaningful upside through lease optimization, additional ancillary income, and long-term strategic positioning.
Location
State CA
County San Diego
Area 92114 - Encanto
Zoning COMMERCIAL
Interior
Heating Forced Air, See Remarks, Wall Furnace
Fireplace No
Exterior
Total Parking Spaces 6
Others
Tax ID 5810203000
Acceptable Financing Cash, Cash to New Loan, VA Loan
Listing Terms Cash, Cash to New Loan, VA Loan
Virtual Tour https://player.vimeo.com/video/1209884556?byline=0&title=0&owner=0&name=0&logos=0&profile=0&profilepicture=0&vimeologo=0&portrait=0
Listed by Darin Triolo Keller Williams Realty #01376927
NEARBY SCHOOL & BUSINESS
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