4073 Gresham St - Apartments FOR SALE


San Diego, CA 92109- Pacific Beach
$3,300,000 USD
858-352-6742
4073 Gresham St, San Diego, CA for Sale
$3,300,000 USD
Apartments - FOR SALE
1/15
null | 3.95% Cap Rate

4073 Gresham St
San Diego, CA 92109
Pacific Beach


OVERVIEW

We are pleased to offer 4073 Gresham Street, a fully modernized and turnkey five (5) unit multifamily property in beautiful Pacific Beach, ideally located within 1.5 blocks to Sail Bay access and Fanuel Street Park, within the coveted Crown Point area. Comprised of two (2) large 1Br/1Ba units and three (3) 2Br/1.5Ba townhome units (each with private/enclosed back patio), units have been upgraded to a high level back around 2016, with newer cabinetry, countertops, s.s. appliances, in-unit washer/dryers, vinyl plank flooring (downstairs), and fully remodeled bathrooms with tiled shower enclosures. In addition to being steps from the bay and 7 blocks from the beach, the property boasts gate code access, dual-pane vinyl windows/sliders throughout, as well as a laundry room (currently used as storage), and a large rear common area patio/bike storage/surfboard storage/bbq area. Units are all electric, separately metered for electricity. Residents love having a full tandem off-street parking space (5 tandem off-street spaces for 10 total spaces!), especially in the Summertime when parking gets very scarce in this sought after neighborhood. Great property and location that always attracts top-tier long-term tenants, and has also done incredibly well as a short term rental property (until covid hit in 2020, when owner changed to long-term rental operations and never looked back). Lowest rented 2Br unit was just re-rented at $4,095 this month (which was around $3,050 before that), with several very qualified applicants trying to lock it down. Contact exclusive listing agent Palma Commercial (Joe Burrough) for more details, including an Offering Memorandum, at 858.352.6742 (ext. 101).

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$729 USD /SF

# OF UNITS

5

PRICE/UNIT

$660,000

CAP RATE

3.95%

% 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

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Joseph BurroughPalma CommercialMore Info
858-352-6742

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