$5,930,000
$5,998,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
8 Baths
8,187 Sqft Lot
SOLD DATE : 09/24/2024
Key Details
Sold Price $5,930,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 240012105
Sold Date 09/24/24
Bedrooms 8
Full Baths 6
Half Baths 2
HOA Y/N No
Year Built 1970
Lot Size 8,187 Sqft
Property Description
REFRESHED AND IMPROVED! Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. $347,857 gross in 2023! Projected gross profit over 500k! The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This one-of-a-kind property also includes (1) 2 bed/2.5 bath and (4) 1 bed/1 bath units, currently rented below market value rents. There is potential to increase the NOI by bringing all rents to market rates. The main 4 bed/2.5 bath unit is an extremely successful vacation rental, continuously booked year-round. Additional income from the laundry machines on the property. Each unit is individually metered for electricity, with a new roof installed in 2021. This property has been self-managed for the last 18 years by the current owners, ensuring exceptional care. This rare offering presents a unique opportunity to add a highly sought-after asset to your commercial real estate portfolio. Don't miss out on this chance to acquire a well-maintained property in a prime location.
Location
State CA
County San Diego
Community Pacific Beach
Area Pacific Beach (92109)
Building/Complex Name Sail Bay
Interior
Heating Natural Gas
Cooling Central Forced Air
Fireplaces Number 1
Appliance Forced Air Unit
Exterior
Exterior Feature Stone
Fence Gate
Community Features Laundry Facilities
Complex Features Laundry Facilities
View Bay, Ocean
Roof Type Composition
Building
Story 2
Lot Size Range 7500-10889 SF
Sewer Sewer Connected
Water Meter on Property
Level or Stories 2 Story
Others
Acceptable Financing Cash, Conventional, Exchange
Space Rent $17,788
Listing Terms Cash, Conventional, Exchange
Financing Conventional
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Voltaire Lepe • eXp Realty of California, Inc.