1532 Hornblend St - Apartments FOR SALE


San Diego, CA 92109- Pacific Beach
$3,995,000 USD
619-255-3233
1532 Hornblend St, San Diego, CA for Sale
$3,995,000 USD
Apartments - FOR SALE
1/10
null | 3.59% Cap Rate

1532 Hornblend St
San Diego, CA 92109
Pacific Beach


HIGHLIGHTS

  • Four Single Garages with Potential for ADU Conversion
  • Diverse Unit Mix of 1 bed and 2 bed Apartments
  • 51% Rental Upside Through Remodeling and ADU Additions
  • Four Units Have Been Remodeled
  • Exceptional Walk Score of 96
  • Minutes from the Beach, Mission Bay, and Garnet Ave Business District

OVERVIEW

MD Real Estate Inc is proud to present the Hornblend Apartment Homes, an 8 unit rental community centrally located in Pacific Beach, CA. Situated on a 6,240-square-foot lot, the property features four spacious 1-bedroom/1-bath units, two 2-bedroom/1-bath units, and one 2-bedroom/2-bath unit. Residents enjoy a peaceful, well-kept courtyard, four on-site tandem parking spaces, four single car garages, and a convenient on-site laundry facility with leased equipment. Four of the units have been extensively remodeled and are rented at top market rents while the other four units have long terms tenant and can benefit for remodeling and renting at higher market rents. Additionally, the four single car garages in the rear have ADU potential to further increase rental income. With its prime location just minutes from the beach, vibrant dining, shopping, and outdoor recreation, The Hornblend Apartment Homes offer an attractive lifestyle for tenants seeking a balance of coastal living and urban convenience. The property has been well maintained over the years, yet a strategic value-add opportunity exists to modernize the interiors and further enhance rental income.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$722 USD /SF

# OF UNITS

8

PRICE/UNIT

$499,375

CAP RATE

3.59%

% 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

1972

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,242 SF

ZONING

R3

APN/PARCEL ID

423-093-14

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.