In the heart of Pacific Beach and walkable to countless neighborhood assets, this fully leased brand new construction elevator mid-rise built in 2023 with exceptional parking is a rare find in a bustling coastal community. Mix includes 18x 2 bed/2baths, 2x 1 bed/1bath, and 1x commercial retail space. Building has secure entry, lobby/mail room, elevator, garage with 21 parking spaces including 2 EV chargers, bike storage, and refuse room. Apartments feature quartzite countertops, in-unit laundry, central heat & AC, vinyl flooring, balcony(s), and stainless steel appliances. Apartment utilities are metered separately and paid by tenants. Building is FULLY LEASED & move-ins are currently underway. New construction exemption from AB 1482 rent control applies. Low maintenance design and built by a highly reputable local builder who has built over 5,000 units! *Price reflects outright sale, but Seller is also willing to sell 49% interest and retain 51%. There is currently a $4.8m loan on the property at 4.5% interest.* **Cost segregation study recently completed, which will provide an additional $1.28M in depreciation for 2024. Building is solar-ready, which is estimated to provide $25k in revenue/year if installed along with additional tax credits. Documentation is available upon request.** 4.00% Cap Rate | 17.37 Gross Rent Multiplier.
Call or Email Lisa Henderson now to inquire about this property
By registering with our site, you acknowledge you agree to the website terms. We protect your personal privacy and email security. View our Privacy Policy