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    4930 W Point Loma Blvd

    San Diego, CA 92107
    • $6,900,000
    • STATUS: ACTIVE
    • ON SITE: 43 days
    • ID#: 210022733
    UPDATED: 151 min ago
    $6,900,000
    • 27
      BEDS
    • 0.31
      ACRES
    • 14
      BATHS
    • 7
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own a 7 Unit complex income property in the prime location of Ocean Beach/ Point Loma. Oceanview, Minutes to the Ocean Beach, this property is exactly what you were looking for. With its current condition, the building is brining $30,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. This complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 6 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 units as 3 bedroom 2.5 bath. There are 17 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Ocean Beach, and Point Loma Blvd, close to 100s of shops and restaurants, right next to Sunset Cliffs Blvd, Ocean Beach Volleyball Courts, this place is the prime tourist location. OB Noodle House & Sake Bar, the popular place in town is on the other side of the street. Ocean breeze and Oceanview from 2nd floors.

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    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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/120281891
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    4930 W Point Loma Blvd San Diego, CA 92107

    • Price: $6,900,000
    • Status: ACTIVE
    • Updated: 151 min ago
    • ID#: 210022733
    27
    Beds
    14
    Baths
    7
    ½ Baths
    0.31
    Acres
    Neighborhood:
    Ocean Beach (92107)
    County:
    San Diego
    Area:
    Ocean Beach (92107)
    Property Description
    LOCATION! LOCATION! LOCATION! A rare opportunity for an investor/developer to own a 7 Unit complex income property in the prime location of Ocean Beach/ Point Loma. Oceanview, Minutes to the Ocean Beach, this property is exactly what you were looking for. With its current condition, the building is brining $30,000 a month income with a cap rate of 3.5%. With some TLC and renovations, the income potential is a lot higher. This complex is perfect for short-term rentals and AirBNB which can make the cap rate potential as high as 7%. No HOA, No Mello-Roos. 2 Story Townhouse with 6 units being 3 bedroom 2.5 bath with extra bonus room (potential 4 bed) and the 1 units as 3 bedroom 2.5 bath. There are 17 parking spaces in the garage area under the building and plenty of street parking. Units have Hardwood Flooring, very spacious, master bedroom with en-suite bathrooms. All units are fully rented on a month to month basis with tenants who love to be there with zero or low vacancy rate. All units have their own laundry inside. This is a great fixer-upper for the right developer/investor who is interested in doing cosmetic repairs and put some love into the units and make them perfect, or just buy and keep the tenants. Prime Location in Ocean Beach, and Point Loma Blvd, close to 100s of shops and restaurants, right next to Sunset Cliffs Blvd, Ocean Beach Volleyball Courts, this place is the prime tourist location. OB Noodle House & Sake Bar, the popular place in town is on the other side of the street. Ocean breeze and Oceanview from 2nd floors.
    Exterior Features

    Parking Garages Parking Spaces Total 17 Units With Garages 7

    Interior Features

    Cooling None Heating Central Forced Air Gas Laundry Owned Sq Ft Of Improvement 10162 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Unit Furnished6 No Unit Furnished7 No Units With Dishwashers 7 Units With Disposals 7 Units With Drapes 7 Units With Ranges 7 Units With Refrigerators 7

    Property Features

    1st Loan Assumable 0 1st Loan Balance 0 1st Loan Interest 0 2nd Loan Assumable 0 2nd Loan Interest Rate 0 Actual Cap Rate 3.5 Actual Gross Scheduled Income 360000.0 Actual Operating Expense 2000 Actual Total Pi Pay 0 Actual Vacancy And Credit Loss 0 Assumable Finance 0 Buildings 1 Existing Financing Clear Gross Equity 6900000 Gross Multiplier 19.16 Have 7 Townhouse Units Leased Apartments 7 Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 30000 Motive Want Sell Present Loan 0 Projected Cap Rate 7.0 Projected Gross Scheduled Inc 756000 Short Sale No Sq Ft Source Tax Record Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Terms CashOther/Remarks Unit Rent Total1 4250 Unit Rent Total2 4250 Unit Rent Total3 4250 Unit Rent Total4 4250 Unit Rent Total5 4250 Unit Rent Total6 4250 Unit Rent Total7 4250 Unit Rent1 4250 Unit Rent2 4250 Unit Rent3 4250 Unit Rent4 4250 Unit Rent5 4250 Unit Rent6 4250 Unit Rent7 4250 Unit Type Townhouse Zoning R-4:Multip

    Listing provided courtesy of Txr Homes. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101