428-438 Rosemont St - Apartments FOR SALE


La Jolla, CA 92037- Beach Barber Tract
$5,250,000 USD
619-852-8827
428-438 Rosemont St, La Jolla, CA for Sale
$5,250,000 USD
Apartments - FOR SALE
1/81
null | 3.25% Cap Rate

428-438 Rosemont St
La Jolla, CA 92037
Beach Barber Tract


HIGHLIGHTS

  • ***Rock Star Location***92037***La Jolla***WINDNSEA***0.2 Miles to Windnsea Beach*Pacific Ocean*Neptune***
  • 6 Units***Total 4,571Sq Ft Of Living Area***Two 2BR/2BA approx 900 Sq ft***Two 2BR/1BA approx 800 sq ft***Two 1BR/1BA approx 600 SqFt***
  • $29,800 Long Term Monthly Market Rent/ $357,600 YR***3.25% Cap Rate***GRM 19.3***Holy Schmoley Short Term/AIRBNB Monthly Rent $50,000/$600,000 YR***

OVERVIEW

*** Value Add Upside Potential***Renovate Ready**Rent Reposition***Ay Carumba Stabilized Coastal Multifamily Asset Market Value $6,900,000***Mediterranean Coastal Affluent Community Highly Walkable Coastal Lifestyle With Proximity To Coastal Amenities & Employment Centers*** Year Round Mild Temperatures Ranging Mid-50s to Mid-70s***92037***La Jolla Driven By Education*Healthcare*Biotechnology*Research*Tourism*Professional Services*Provide A Strong Economic Base Which Support Upscale Single Family Homes*Luxury Condominiums*Apartment Buildings* A Local Commercial Corridor Offering Convenient Access To Retail, Dining, And Personal Services Within Walking Distance Sustaining Long Term Rental Desirability & Investment Stability***0.2 Miles To Neptune/ WINDNSEA Beach *Coastal Bluff With Pacific Ocean Views ***6 Units***Total 4,571Sq Ft Of Living Area***(4/6 renovation ready and vacant)***Two 2BR/2BA approx 900 Sq ft***Two 2BR/1BA approx 800 sq ft***Two 1BR/1BA approx 600 SqFt***On A Flat Level 9,227 (95 x100) Sq Ft Prominent Usable Corner Lot Providing Dual Street Frontage (Rosemont & Electric) With Alley Access Providing Enhanced Accessibility & 4 One Car Garages (10x24)***$29,800 Long Term Monthly Market Rent/ $357,600 YR***3.25% Cap Rate***GRM 19.3***Holy Schmoly Short Term/AIRBNB Monthly Rent $50,000/$600,000 YR*** Ability to Generate Additional $127K+ per Year Converting Four (10x24) 240 Sq Ft Garages into Studios Renting For $2,650 Mth*** Going Going Gon_!

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$1,167 USD /SF

# OF UNITS

6

PRICE/UNIT

$875,000

CAP RATE

3.25%

% LEASED

33%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,001 SF

ZONING

R2

APN/PARCEL ID

351-471-21

ASK ABOUT THIS PROPERTY

Robert AntoniadisRobert RealtyMore Info
619-852-8827

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Robert AntoniadisRobert RealtyMore Info
619-852-8827

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