5050-5054 Brighton Ave - Apartments FOR SALE


San Diego, CA 92107- Ocean Beach
$1,750,000 USD
858-352-6742
5050-5054 Brighton Ave, San Diego, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/15
null | 4.04% Cap Rate

5050-5054 Brighton Ave
San Diego, CA 92107
Ocean Beach


HIGHLIGHTS

  • 1.5 Blocks from Beach in Idyllic Ocean Beach!
  • Cottage-Style Units with Lots of Charm and Abundant Outdoor Space, Including Spacious Private Front and Rear Patios/Balconies
  • Potential to add 30-foot tall ADU, Perhaps Above Rear Parking Area, Allowing for Ocean Views!
  • Three (3) Surface Off-Street Parking Spaces | Common Area Courtyard
  • Blank Canvas - to be Fully Modernized in oder to garner Upper End Market Rents - to be delivered 80% Vacant!
  • Excellent Short Term Rental Potential! Walk to Volleyball Courts, Dog Beach, Robb Athletic Fields, OB Noodle House, OB Pier and Best Area Retail!

OVERVIEW

Located just 1.5 blocks from the beach in Ocean Beach, within walking distance to restaurants and shops, 5050-54 Brighton Avenue, San Diego, CA 92107 (“Property”) is a five (5) unit multifamily investment property that is comprised of all one-bedroom/one-bathroom units, and has three (3) tandem off-street parking spaces. OB Surf/beach cottage vibes! The units are spread across three separate buildings, including essentially mirror-image two-story duplexes in front, with one unit above the other, each with a private front and rear patios/balconies, and one single-story detached cottage unit that has been renovated inside. Built of wood-frame construction on concrete on grade foundations upon a ±3,837 SF lot, all buildings have pitched composition shingle roofs and wood siding. Units are separately metered for gas and electricity, and the property is on city trash. With very little landscaping at the property, related landscape maintenance, among other operational costs, are minimal. This rare beach-proximate 5-unit property has great flexibility in terms of ways to maximize value, such as a possible increase to rentable building area and/or density via added ADU construction, possibly with a 30 foot high Ocean View ADU over central courtyard and rear parking area. 5050-54 Brighton Avenue boasts close proximity to: the beach(es); Robb Athletic Fields; OB Noodle House; the OB Pier; and best area retail along Newport Avenue, making this a prime property for partial or full short term (vacation) rental operations, for anyone wanting to accelerate revenue growth that way.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$821 USD /SF

# OF UNITS

5

PRICE/UNIT

$350,000

CAP RATE

4.04%

% LEASED

20%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ocean Beach Cottages

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,008 SF

ZONING

R-175, San Diego

APN/PARCEL ID

448-114-21

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.