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651 17th St

San Diego, CA 92101
  • $2,500,000
  • STATUS: ACTIVE
  • ON SITE: 17 Days
  • ID#: 240027269
UPDATED: 51 min ago
$2,500,000
  • 7
    BEDS
  • N/A
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

Located in the dynamic East Village submarket and only minutes from PETCO Park, these 9 free standing cottages with an income producing billboard represent a rare value-add opportunity to enter the downtown market. Five of the nine cottage interiors have been renovated, offering the opportunity to reposition the remaining 4 and update the exteriors to maximize the potential of the property. Unlike many downtown buildings, each unit has on-site parking. There is also the opportunity to redevelop the site and combine it with the adjacent parcel for incredible long-term growth.

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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/158105383
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651 17th St San Diego, CA 92101

  • Price: $2,500,000
  • Status: ACTIVE
  • On Site: 17 Days
  • Updated: 51 min ago
  • ID#: 240027269
7
Beds
7
Baths
0
½ Baths
N/A
Acres
Neighborhood:
San Diego Downtown (92101)
County:
San Diego
Area:
San Diego Downtown (92101)
Property Description
Located in the dynamic East Village submarket and only minutes from PETCO Park, these 9 free standing cottages with an income producing billboard represent a rare value-add opportunity to enter the downtown market. Five of the nine cottage interiors have been renovated, offering the opportunity to reposition the remaining 4 and update the exteriors to maximize the potential of the property. Unlike many downtown buildings, each unit has on-site parking. There is also the opportunity to redevelop the site and combine it with the adjacent parcel for incredible long-term growth.
Exterior Features

Parking Spaces Parking Spaces Total 8

Interior Features

Sq Ft Of Improvement 3772

Property Features

Actual Gross Scheduled Income 176000.0 Actual Operating Expense 72218 Assumable Finance 0 Buildings 9 Gross Equity 1200000 Gross Multiplier 14.63 Have Units Mandatory Remarks None Known Market Area Metro Central Motive Want Sell Projected Cap Rate 6.11 Unit Number1 2 Unit Number2 1 Unit Number3 1 Unit Number4 2 Unit Number5 1 Unit Number6 1 Unit Number7 1 Unit Rent1 1200 Unit Rent2 1250 Unit Rent3 1400 Unit Rent4 1600 Unit Rent5 1750 Unit Rent6 1800 Unit Rent7 1800

San Diego MLS logo Listing provided courtesy of John Newton of CBRE: 858-228-7078. 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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The Neuman Team
516 5th Avenue
San Diego CA, 92101