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OCEAN BEACH Property for sale: 4642-46 Niagara Ave in San Diego

4642-46 Niagara Ave San Diego OCEAN BEACH

Main Photo: OCEAN BEACH Property for sale: 4642-46 Niagara Ave in San Diego
$2,050,000
Prop. Type:
2-4 Units
MLS® Num:
240008304
Status:
Active
Year Built:
1947
We're excited to present a distinctive investment opportunity with 4642-46 Niagara Ave, nestled in the vibrant and sought-after neighborhood of Ocean Beach in San Diego, California. This unique property features a 3-unit, individually condo-mapped apartment complex constructed in 1953, comprising one detached 2 Bed / 1 Bath house and two 1 Bed / 1 Bath units situated above three single-car garages. The property boasts an impressive Walk Score of 94, underscoring its appeal with easy pedestrian access to local amenities and the famed OB Pier, located just four blocks away. With its prime coastal location, the property has been self-managed and meticulously maintained, showcasing its potential for immediate occupancy or for strategic renovations to elevate rental incomes to current market rates, thus enhancing overall cash flow and investment value. The convenience of the nearby 8 and 5 freeways offers effortless commuting options, making this an exceptional opportunity to secure a value-add asset in one of San Diego's premier coastal rental markets, where demand remains high and growth potential abounds. This offering represents a chance not only to invest in a piece of San Diego's coastal charm but also to capitalize on the considerable rental growth prospects in a community known for its laid-back lifestyle and scenic beauty.
Lot Size:
4,000-7,499 SF
Number of Buildings:
2
Number of Units:
3
Year Built:
1947
Stories:
1 Story
Total Stories:
1
Market Area:
Coastal South
Community:
OCEAN BEACH
County:
San Diego
Neighborhood Code:
Ocean Beach
Name of Complex/Subdivision:
Complex
Mello Roos Fee:
0.0
Monthly Total Fees:
0.0
Other Fees:
0.0
Tenant pays:
Electricity, Gas/Propane
Projected net operating income:
104512
Other income:
2400
Projected other income:
7800.0
Annual expense actual:
32084
Projected annual expense:
32084
Cap Rate.:
1.87
Projected Cap Rate.:
5.1
Gross Rent Multiplier:
30.1
Projected Gross Rent Multiplier:
15.44
Gross scheduled income:
68100
Projected gross scheduled income:
132780
Unit Number for Unit 1:
4642
Finished Area for Unit 1:
Switch units of measure662 sq. ft.
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
1
Full Bathrooms for Unit 1:
1
Half Bathrooms for Unit 1:
0
Deposit for Unit 1:
0.0
Total Rent for Unit 1:
2300.0
Projected Rent for Unit 1:
4175.0
Unit 1 Exclusive Use Yard:
Yes
Laundry Hook Ups for Unit 1:
No
Unit Number for Unit 2:
4644
Finished Area for Unit 2:
Switch units of measure638 sq. ft.
Bedrooms for Unit 2:
1
Number of bathrooms for Unit 2:
1
Full Bathrooms for Unit 2:
1
Half Bathrooms for Unit 2:
0
Deposit for Unit 2:
0.0
Total Rent for Unit 2:
1675.0
Projected Rent for Unit 2:
3445.0
Unit 2 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 2:
No
Unit Number for Unit 3:
4646
Bedrooms for Unit 3:
1
Number of bathrooms for Unit 3:
1
Full Bathrooms for Unit 3:
1
Half Bathrooms for Unit 3:
0
Deposit for Unit 3:
0.0
Total Rent for Unit 3:
1700.0
Projected Rent for Unit 3:
3445.0
Unit 3 Exclusive Use Yard:
No
Laundry Hook Ups for Unit 3:
No
Number of bathrooms for Unit 4:
0
Ebers St
Exterior Features:
Other/Remarks
Cooling:
Other
Number of Units with Cooling:
0
Number of Units with Dishwashers:
3
Number of Units with Dryers:
0
Number of Units with Fireplaces:
0
Number of Furnished Units:
0
Number of Units with Garages:
3
Number of Units with Patios:
3
Number of Units with Range/Oven:
3
Number of Units with Refrigerators:
3
Number of Units with Washers:
0
Roof:
Other/Remarks
Security:
Other/Remarks
Fencing:
Other/Remarks
Short Sale:
No
Listing Type:
Exclusive Agency (A)
Age Restrictions:
N/K
Sales Restrictions:
N/K
Terms:
Cash, Conventional, Exchange, Seller May Carry, VA, Other/Remarks
Parcel Number:
448-502-08-01
Listed by Marcus & Millichap
Data was last updated May 8, 2024 at 03:10 PM (UTC)
Gerri-Lynn Fives
Pacific Sotheby's Intl Realty

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