2134 Reed Ave - Multi-Family FOR SALE


San Diego, CA 92109- Pacific Beach
$1,890,000 USD
720-841-8139
2134 Reed Ave, San Diego, CA for Sale
$1,890,000 USD
Multi-Family - FOR SALE
1/11
null | 3.36% Cap Rate

2134 Reed Ave
San Diego, CA 92109
Pacific Beach


HIGHLIGHTS

  • Rarely Trading Pacific Beach Location Near Beach & 2 Blocks From Mission Bay
  • Excellent Rents & Cashflow; One Of Highest Triplex Cash Flows In PB
  • Flexible As Owner/User Or Investment Opportunity
  • Room To Build Two Additional ADUs In Center Courtyard
  • Excellent Mix Of One 2-Bedroom Cottage & Two 1-Bedroom Units
  • Full Property Remodel With New Kitchens, Baths, Floors, Appliances

OVERVIEW

We are pleased to present 2134 Reed Avenue, a renovated triplex just two blocks to the bay in the highly popular Pacific Beach neighborhood of San Diego, California. Major upgrades have been made to the complex in the last two years including 2 completely renovated rear 1-bedroom / 1-bath units (approximately 500 SF) and a partially upgraded 2-bedroom cottage (approximately 824 SF). Units have received upgraded power, individual washer dryers and all new kitchens and baths in the rear units. Built in 1947 and restored in 2022, this triplex features prime walkability to the bay, beach, and popular Garnet Avenue shops, stores, restaurants and entertainment. This is an ideal investment for the location-prioritized investor, owner/user, ADU builder, or investor seeking strong cash flow for the price. Pacific Beach presents a unique opportunity due to its prime coastal location, popular restaurants and stores, and vibrant community atmosphere. The area is known for its beautiful beaches, active lifestyle, and a strong tourism market, attracting both locals and visitors year-round. This consistent influx of people creates a robust demand for various investment properties, including multifamily, retail, restaurants, and hospitality, making it a lucrative environment for investment. Additionally, Pacific Beach has seen significant development and revitalization efforts, enhancing its appeal and driving property values upward. Moreover, the strong rental market in Pacific Beach provides investors with the potential for stable cash flow and long term appreciation. The area’s demographics, characterized by a mix of young professionals, college students, families, and retirees, support a diverse range of commercial opportunities. With favorable zoning regulations and a supportive local government focused on sustainable development, investors can benefit from a proactive environment for growth. The combination of a thriving economy, desirable lifestyle, and limited available space makes Pacific Beach a compelling choice for anyone looking to invest in the area.

FOR SALE DETAILS

PRICE

$1,890,000 USD

PRICE/SF

$1,036 USD /SF

# OF UNITS

3

PRICE/UNIT

$630,000

CAP RATE

3.36%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

-

APN/PARCEL ID

424-202-19-00

ASK ABOUT THIS PROPERTY

720-841-8139

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720-841-8139

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