2162 Thomas Ave - Apartments FOR SALE


San Diego, CA 92109- Pacific Beach
$2,950,000 USD
619-255-3233
2162 Thomas Ave, San Diego, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/14
null | 2.66% Cap Rate

2162 Thomas Ave
San Diego, CA 92109
Pacific Beach


HIGHLIGHTS

  • Prime Location in the Highly Sought-After Pacific Beach Rental Market
  • Significant Value-Add Potential with Approx. 59% Rental Upside Through Renovation
  • Flexible Month-to-Month Rental Agreements for Immediate Rent Adjustments
  • Spacious Units, with Second-Floor Residences Featuring Exposed Beam Ceilings
  • Most unit interiors have been upgraded with newer flooring and refreshed kitchens and bathrooms.
  • Five Dedicated On-Site Parking Spaces

OVERVIEW

The Thomas Avenue Apartment Homes is a well-maintained 8-unit community in the highly sought-after Pacific Beach rental market. Situated on a 6,237-square-foot lot, the property features seven spacious 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. Residents enjoy a peaceful, well-kept courtyard, five on-site parking spaces, and a convenient on-site laundry facility with leased equipment. Upstairs units boast charming exposed beam ceilings, while the entire property benefits from newer dual-pane vinyl windows and a pitched roof. Most unit interiors have been upgraded with newer flooring and refreshed kitchens and bathrooms. With its prime location just minutes from the beach, vibrant dining, shopping, and outdoor recreation, The Thomas Avenue 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

$2,950,000 USD

PRICE/SF

$568 USD /SF

# OF UNITS

8

PRICE/UNIT

$368,750

CAP RATE

2.66%

% 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

1960

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R-2, San Diego

APN/PARCEL ID

424-201-15

ASK ABOUT THIS PROPERTY

Dylan WrightMD Real Estate IncMore Info
619-255-3233

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

Dylan WrightMD Real Estate IncMore Info
619-255-3233

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