418 W Ivy St - Apartments FOR SALE


San Diego, CA 92101- Bankers Hill
$2,200,000 USD
858-876-5701
418 W Ivy St, San Diego, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/53
null | 6.06% Cap Rate

418 W Ivy St
San Diego, CA 92101
Bankers Hill


HIGHLIGHTS

  • Full Remodel in 2024 including major Capital Improvements
  • New roof including plywood, Retaining wall upgrade, foundation reinforcement with 14 adjustable jacks, new HVAC system in front house, ABS plumbing
  • Operating as a successful Short Term Rental on Airbnb generating $4,353 monthly for each studio
  • Walkscore of 92, within walking distance to world class destinations including Balboa Park, Little Italy and the San Diego Waterfront
  • High end finishes include dual pane windows, brass fixtures, engineered hardwood floor, dual shower heads in primary bathroom, walk-in closet, laundry
  • Back structure has shed under the deck with washer-dryer hookups, private courtyard with electrical for hot tub under the patio

OVERVIEW

Beautifully remodeled 1917 Craftsman + detached two additional units in prime Bankers Hill / Little Italy location. This rare 3-unit property offers exceptional flexibility for owner-occupants or investors, just steps from Balboa Park, the San Diego Bay waterfront, and the best dining and shopping in 92101. The front home has been extensively upgraded with high-end finishes, dual-pane windows, updated plumbing and electrical, new roof with new plywood, new HVAC system and foundation and retaining wall improvements. Enjoy multiple outdoor living areas including a front porch, rear deck with bay views, and private yard spaces. Three tandem parking spaces serve the main home. The rear structure features two studio units with private access and laundry hookups conveniently located beneath the rear deck —ideal for rental income, multigenerational living, or guest use. Property has been operated as a successful furnished rental and offers strong income potential. A turnkey opportunity in one of Downtown San Diego’s most walkable and desirable neighborhoods.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$1,358 USD /SF

# OF UNITS

3

PRICE/UNIT

$733,333

CAP RATE

6.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ivy Street Suites

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1917

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,090 SF

ZONING

RM-3-7

APN/PARCEL ID

533-132-06

ASK ABOUT THIS PROPERTY

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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Christina LabowiczACI ApartmentsMore Info
858-876-5701

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