4073 Gresham St - Apartments FOR SALE


San Diego, CA 92109- Pacific Beach
$3,495,000 USD
858-352-6742
4073 Gresham St, San Diego, CA for Sale
$3,495,000 USD
Apartments - FOR SALE
1/16
null | 3.38% Cap Rate

4073 Gresham St
San Diego, CA 92109
Pacific Beach


HIGHLIGHTS

  • Superb Location within Pacific Beach, in the coveted Crown Point area, just 1.5 blocks from Sail Bay and Fanuel Park!
  • Fully Modernized, Turnkey Property with In-Unit Washer Dryers, Stainless Steel Appliance Packages, Stone Countertops, New Cabinetry
  • Dual Pane Vinyl Windows, Vinyl Plank Flooring, Private Patios in 4 of the 5 Units
  • Separately Metered for Electricity (Master Metered for Gas, Water/Sewer), Low Maintenance Landscaping
  • Five (5) Tandem Off-Street Parking Spaces (10 Total Spaces), Large Outdoor Storage/BBQ area at rear of property
  • Phenomenal Location Meets Well Upgraded Apartments - Well Suited for Long-Term; Mid-Term; or Short-Term Rentals, for Accelerated Revenue Growth

OVERVIEW

It is a privilege to present for sale 4073 Gresham Street, San Diego, CA 92109, an extremely well-located and highly modernized Five (5) unit apartment property in Pacific Beach, ±1.5 blocks from Sail Bay and Fanuel Park, ±7 blocks from the beach, and within walking distance to a wide array of dining, nightlife, recreation and shopping options. Comprised of: two (2) one-bedroom/one-bathroom units (±685 SF each); and three (3) two-bedroom/one-and-a-half-bathroom townhome units (±1,050 SF each), all units have been upgraded to a high level, thus feature custom cabinetry, granite countertops, recessed lighting, vinyl plank flooring, stainless steel appliances, dishwashers, in-unit washer/dryers, dual-pane vinyl windows and sliders, newer front doors, among other improvements. Four of the units have private/enclosed back patios, and common area amenities at the Property include: five (5) tandem surface off-street parking spaces in front (for 10 total spaces!); a generous gated outdoor storage area at the rear of the property; gated front entry with dial pad access; and a beautifully landscaped courtyard featuring birds of paradise. 4073 Gresham Street has ±4,528 SF of rentable building area (RBA) across all (5) units, which are housed within a single two-story building, built of wood frame construction upon a concrete on grade foundation, with a flat roof that features a shake shingle mansard. Constructed in ±1969 on a ±5,514 SF lot, units are separately metered for electricity, and the Property is master-metered for gas, as well as water/sewer. The property benefits from low cost city waste services and minimal landscape maintenance. In addition to being a favorite for long-term rentals, with its spacious modernized units, 4073 Gresham Street would also do well with short-term or mid-term rentals. This highly coveted part of Pacific Beach, in Crown Point adjacent to Sail Bay, boasts easy access to its miles long boardwalk, an abundance of water sports, volleyball, The Catamaran, beaches, Santa Clara Point and the Mission Bay Aquatic Center, among others, ripe for continued appreciation. Contact exclusive agent Joseph Burrough of Palma Commercial for more details including OM. Please do not go onto the property and/or disturb tenants.

FOR SALE DETAILS

PRICE

$3,495,000 USD

PRICE/SF

$772 USD /SF

# OF UNITS

5

PRICE/UNIT

$699,000

CAP RATE

3.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gresham Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,502 SF

ZONING

RM-2-5

APN/PARCEL ID

423-382-39

ASK ABOUT THIS PROPERTY

Joseph BurroughPalma CommercialMore Info
858-352-6742

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

Joseph BurroughPalma CommercialMore Info
858-352-6742

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