2416 Polk Ave - Apartments FOR SALE


San Diego, CA 92104- North Park
$1,700,000 USD
858-248-1222
2416 Polk Ave, San Diego, CA for Sale
$1,700,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

2416 Polk Ave
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Two Large 2 Bed 2 Bath Multilevel Units - 1,337 SF Each
  • Each Unit with Attached Two Car Garage, Roof Deck & Private Yard
  • Significant Upside in Rents - Exempt from CA AB1482 Rent Control Until 2028
  • Prime North Park Location
  • Short Term Rental Potential
  • Two Separate APN's - Condo Conversion Potential

OVERVIEW

Newer Construction Duplex with Two Separate APN's - Condo Conversion Potential CBRE is pleased to present 2416-2418 Polk Ave, a two-unit apartment building in San Diego’s coveted North Park neighborhood. Built in 2013, the property consists of two large 2 Bed / 2 Bath units totaling 1,337 sf each. The units were designed with modern open floorplans and high ceilings which optimize space and comfort for residents. Each unit is two stories and features an attached two car garage, private rear yard, private roof deck, ducted heating and air conditioning and full-size washers and dryers. Kitchens are designed with butcher block countertops, farmhouse-style sinks and sleek cabinetry that provide abundant storage. Current rents are well below market leaving significant upside for a new owner. The property is exempt for California AB 1482 rent control laws until 2028, allowing a new owner to raise rents to market immediately. The property's prime North Park location also creates a great short term rental opportunity ( Buyer to verify with City of San Diego). The property has two separate APN's, allowing for future condo conversion potential and for the units to be sold invividually. Buyer to verify this ability with City of San Diego Development Department.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$636 USD /SF

# OF UNITS

2

PRICE/UNIT

$850,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2416-18 Polk Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2013

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,000 SF

ZONING

R-2

APN/PARCEL ID

445-531-33,445-531-34

ASK ABOUT THIS PROPERTY

Nate PepperCBREMore Info
858-248-1222

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

Nate PepperCBREMore Info
858-248-1222

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