310-561-5237
2121 First Ave, San Diego, CA for Sale
Apartments - FOR SALE
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2121 First Ave
San Diego, CA 92101
Bankers Hill


HIGHLIGHTS

  • Total 34 Fully Furnished Units (Includes 5 Bed/2 Bath SFR)
  • National Historic Landmark
  • Designated SRO (Single Night Occupancy Allowed)
  • Mills Act Property Tax Incentive, No Supplemental Tax Burden
  • Special Tax Credits on Exterior Capital Improvements
  • $1.5MM in renovations since 2017

OVERVIEW

TOUR DATES: 5/30 10:00 AM PST 6/9 10:00 AM PST OPEN HOUSE: 6/16 12:00 PM PST (MORE DETAILS TO FOLLOW) ***PLEASE CONTACT BROKERAGE TEAM TO SCHEDULE YOUR TOUR Introducing the Hawthorne Historic Inn - Gateway to San Diego! The Hawthorne Historic Inn at 2121 1st Ave is a registered National Historic Landmark and SRO (Single Room Occupancy) Property that towers above iconic Bankers Hill, San Diego. The historic inn boasts 29 beautifully appointed units, capturing the essence of old-world charm combined with modern convenience in one of the most sought after neighborhoods in California. Because of its historic significance, the Hawthorne Historic Inn benefits from significant property tax incentives per The Mills Act. Furthermore, the SRO designation allows the Hawthorne Inn to accomodate single night occupancy, giving the owners unparalled flexibility and significant upside in cash flow potential. The sale also includes the adjacent 5 Bed/2 Bath House at 2131 1st Ave, offering a unique investment opportunity with 34 total furnished housing units situated less than a mile from Balboa Park, Little Italy, San Diego International Airport, San Diego Zoo, and Downtown San Diego. Both properties have seen signifcant renovations with over $1.5 Million spent on capital improvements since 2017. Don’t miss your chance to not only own an incredible multifamily asset in an unbeatable location but own a piece of San Diego’s rich history. The properties will be sold jointly and as is, where is. The sale is advertised unpriced, please contact listing brokers for more details.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

34

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hawthorne Historic Inn

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

CC-3-4, San Diego

APN/PARCEL ID

533-172-03,533-172-04

ASK ABOUT THIS PROPERTY

Tomoi StapletonColdwell Banker Commercial-WestMore Info
310-561-5237

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Tomoi StapletonColdwell Banker Commercial-WestMore Info
310-561-5237

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