Originally constructed in 1958 & 1961, the property is comprised of 23 units with a mix of one and two-bedroom floor plans. The site consists of three contiguous parcels, allowing a future investor to sell one or more parcels as an alternative exit strategy. The immediate submarket has vastly improved with the recent construction of high-end apartment buildings such as the BLVD North Park, Vida and Above the Boulevard. These assets are achieving rents about $3.00/SF. The subject was extensively remodeled with new dual pane windows, new kitchens and bathrooms, washer and dryers in 2-bedroom units, new interior and exterior paint. Additional upgrades were made to plumbing and electrical as needed during renovation. The property is located in the uptown community of North Park, one of San Diego’s trendiest and fastest growing neighborhoods. In recent years, North Park has become known for its exciting nightlife, shopping, dining, arts, music and exploding craft beer scene. The property represents a turnkey investment opportunity located in a desirable residential neighborhood with close proximity to abundant retail and neighborhood amenities. This offering is perfect for the long term investor seeking a pride of ownership asset with low maintenance and a strong cash flow.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
