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942 Beech Street

San Diego, CA 92101
  • $9,950,000
  • STATUS: ACTIVE
  • ON SITE: 36 Days
  • ID#: 220017945
UPDATED: 30 min ago
$9,950,000
  • 2
    BEDS
  • 0.12
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

We are proud to exclusively present the sale of 942 Beech Street, a 31-unit apartment building located in the Cortez Hill neighborhood of Downtown San Diego. The property comprises thirty (30) studio apartments and one (1) 2BR/1BA. There are four resident parking spaces available in a basement garage, as well as a coin laundry facility on site. Constructed in 1935, the building has retained much of its original character throughout but the units and all common areas have been beautifully updated. These spacious and ideally located apartment homes easily attract affluent and professional tenants who desire to live in the heart of the city without compromising on quality. Additionally, 28 of the units have been renovated with new kitchens, flooring, ceiling fans, and custom paint.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/130824411
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942 Beech Street San Diego, CA 92101

  • Price: $9,950,000
  • Status: ACTIVE
  • On Site: 36 Days
  • Updated: 30 min ago
  • ID#: 220017945
2
Beds
2
Baths
0
½ Baths
0.12
Acres
Neighborhood:
San Diego Downtown (92101)
County:
San Diego
Area:
San Diego Downtown (92101)
Property Description
We are proud to exclusively present the sale of 942 Beech Street, a 31-unit apartment building located in the Cortez Hill neighborhood of Downtown San Diego. The property comprises thirty (30) studio apartments and one (1) 2BR/1BA. There are four resident parking spaces available in a basement garage, as well as a coin laundry facility on site. Constructed in 1935, the building has retained much of its original character throughout but the units and all common areas have been beautifully updated. These spacious and ideally located apartment homes easily attract affluent and professional tenants who desire to live in the heart of the city without compromising on quality. Additionally, 28 of the units have been renovated with new kitchens, flooring, ceiling fans, and custom paint.
Exterior Features

Parking Spaces Total 4

Interior Features

Sq Ft Of Improvement 14382

Property Features

Actual Cap Rate 3.68 Actual Gross Scheduled Income 608456.0 Actual Operating Expense $242454 Assumable Finance 0 Buildings 1 Complex Features Other/Remarks Gross Equity 0 Gross Multiplier 16.55 Have - Mandatory Remarks None Known Market Area Metro Central Monthly Rent Total 50100 Motive Want - Other Income Amount $25292 Other Income Source Laundry Unit Number1 30 Unit Number2 1 Unit Rent Total1 38335 Unit Rent Total2 2420 Unit Rent1 $1408 - $1800 Unit Rent2 $2420

San Diego MLS logo Listing provided courtesy of Marcus & Millichap: 858-373-3100. Listing information © 2022 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 © 2022 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