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Key Details
Sold Price $5,930,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 240012105SD
Sold Date 09/24/24
HOA Y/N No
Year Built 1970
Lot Size 8,184 Sqft
Property Description
REFRESHED AND IMPROVED! Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. $347,857 gross in 2023! Projected gross profit over 500k! The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This one-of-a-kind property also includes (1) 2 bed/2.5 bath and (4) 1 bed/1 bath units, currently rented below market value rents. There is potential to increase the NOI by bringing all rents to market rates. The main 4 bed/2.5 bath unit is an extremely successful vacation rental, continuously booked year-round. Additional income from the laundry machines on the property. Each unit is individually metered for electricity, with a new roof installed in 2021. This property has been self-managed for the last 18 years by the current owners, ensuring exceptional care. This rare offering presents a unique opportunity to add a highly sought-after asset to your commercial real estate portfolio. Don't miss out on this chance to acquire a well-maintained property in a prime location.
Location
State CA
County San Diego
Area 92109 - Pacific Beach
Building/Complex Name Sail Bay
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Exterior
View Y/N Yes
View Bay, Ocean
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 4234100700
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
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Bought with Voltaire Lepe • eXp Realty of California, Inc.
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935