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4642-46 Niagara Ave

San Diego, CA 92107
  • $2,050,000
  • STATUS: ACTIVE
  • ON SITE: 28 Days
  • ID#: 240008304
UPDATED: 87 min ago
$2,050,000
  • 4
    BEDS
  • N/A
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 1,300
    SQFT
  • $1,577
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1947
County:

School Ratings & Info

Description

We're excited to present a distinctive investment opportunity with 4642-46 Niagara Ave, nestled in the vibrant and sought-after neighborhood of Ocean Beach in San Diego, California. This unique property features a 3-unit, individually condo-mapped apartment complex constructed in 1953, comprising one detached 2 Bed / 1 Bath house and two 1 Bed / 1 Bath units situated above three single-car garages. The property boasts an impressive Walk Score of 94, underscoring its appeal with easy pedestrian access to local amenities and the famed OB Pier, located just four blocks away. With its prime coastal location, the property has been self-managed and meticulously maintained, showcasing its potential for immediate occupancy or for strategic renovations to elevate rental incomes to current market rates, thus enhancing overall cash flow and investment value. The convenience of the nearby 8 and 5 freeways offers effortless commuting options, making this an exceptional opportunity to secure a value-add asset in one of San Diego's premier coastal rental markets, where demand remains high and growth potential abounds. This offering represents a chance not only to invest in a piece of San Diego's coastal charm but also to capitalize on the considerable rental growth prospects in a community known for its laid-back lifestyle and scenic beauty.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/149698478
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4642-46 Niagara Ave San Diego, CA 92107

  • Price: $2,050,000
  • Status: ACTIVE
  • On Site: 28 Days
  • Updated: 87 min ago
  • ID#: 240008304
4
Beds
3
Baths
0
½ Baths
N/A
Acres
1,300
SQFT
$1,577
$/SQFT
1947
Built
Neighborhood:
Ocean Beach
County:
San Diego
Area:
Ocean Beach (92107)
Property Description
We're excited to present a distinctive investment opportunity with 4642-46 Niagara Ave, nestled in the vibrant and sought-after neighborhood of Ocean Beach in San Diego, California. This unique property features a 3-unit, individually condo-mapped apartment complex constructed in 1953, comprising one detached 2 Bed / 1 Bath house and two 1 Bed / 1 Bath units situated above three single-car garages. The property boasts an impressive Walk Score of 94, underscoring its appeal with easy pedestrian access to local amenities and the famed OB Pier, located just four blocks away. With its prime coastal location, the property has been self-managed and meticulously maintained, showcasing its potential for immediate occupancy or for strategic renovations to elevate rental incomes to current market rates, thus enhancing overall cash flow and investment value. The convenience of the nearby 8 and 5 freeways offers effortless commuting options, making this an exceptional opportunity to secure a value-add asset in one of San Diego's premier coastal rental markets, where demand remains high and growth potential abounds. This offering represents a chance not only to invest in a piece of San Diego's coastal charm but also to capitalize on the considerable rental growth prospects in a community known for its laid-back lifestyle and scenic beauty.
Exterior Features

Exterior Other/Remarks Fencing Other/Remarks Roof Other/Remarks Unit1 Exclusive Use Yard Yes Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Units With Garages 3 Units With Patios 3

Interior Features

Cooling Other/Remarks Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 0 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Units With Cooling 0 Units With Dishwashers 3 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 3 Units With Refrigerators 3 Units With Washers 0

Property Features

Actual Cap Rate 1.87 Age Restrictions N/K Annual Expense Actual 32084 Annual Expense Projected 32084 Association ID San Diego Association of REALTORS (SDAR) Buildings 2 Cfd Mello Roos Fee 0.0 Community OCEAN BEACH Complex Park Complex Cross Streets Ebers St Gross Rent Multiplier Actual 30.1 Gross Rent Multiplier Project 15.44 Gross Scheduled Income Actual 68100 Gross Scheduled Income Project 132780 Mandatory Remarks None Known Market Area Coastal South Monthly Total Fees 0 Net Operating Income Projected 104512 Other Fees 0.0 Other Income Actual 2400 Projected Cap Rate 5.1 Projected Other Income 7800.0 Sales Restrictions N/K Security Other/Remarks Short Sale No Tenant Pays ElectricityGas/Propane Terms CashConventionalExchangeSeller May CarryVAOther/Remarks Unit Number For Unit1 4642 Unit Number For Unit2 4644 Unit Number For Unit3 4646 Unit1 Deposit 0 Unit1 Occupied Tenant Unit1 Projected Rent 4175.0 Unit1 Rent Actual 2300.0 Unit2 Deposit 0 Unit2 Occupied Tenant Unit2 Projected Rent 3445.0 Unit2 Rent Actual 1675.0 Unit3 Deposit 0 Unit3 Occupied Tenant Unit3 Projected Rent 3445 Unit3 Rent Actual 1700.0

San Diego MLS logo Listing provided courtesy of Thomas Mccartin of Marcus & Millichap: 858-373-3100. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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San Diego CA, 92101