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Property for sale: 1707 Chalcedony St in San Diego

1707 Chalcedony St San Diego

Main Photo: Property for sale: 1707 Chalcedony St in San Diego
$8,750,000 /546875.0
Prop. Type:
Com-Res Income
MLS® Num:
240009994
Status:
Active
Year Built:
1969
Perfect portfolio addition! Ownership is now in the 3rd generation of the same family, so here is your opportunity to acquire a VERY rare offering in North Pacific Beach! Priced well below estate appraisals for immediate sale, these two 16-unit buildings are available on the same block with just one property separating. They are being offered individually or as a pair for the perfect 32-unit acquisition. Excellent unit mix along with great onsite parking. The properties have been professionally managed for a very long time, including highly involved onsite managers. The vast majority of the units have been remodeled and project a current coastal tenant living expectation. Each has an onsite laundry facility, as well as video surveillance. The properties are uniquely set in a multifamily to single family transition neighborhood area, so the overall location feel is far superior to many PB offerings. The asset definitely has "value add" options for future income growth. This property exudes a pride of ownership location and a "Legacy" label, considering the long-term ownership history is clearly appropriate. Excellent documented history for income and expenses, including invested capital and maintenance costs, is available through the well-respected property management firm for the future owner. Call for additional details!
Rental Amount:
40390
Price Per Unit:
546875.0
Total Floor Area:
Switch units of measure12,904 sq. ft.
Lot Size:
Switch units of measure13,068 sq. ft.
Lot Size Commercial:
.25 through .50 Acres
County:
San Diego
Market Area:
Coastal South
Number of Buildings:
2
Number of Units:
16
Stories:
2 Story
Num Stories:
2
Unit Type:
Apartment
Year Built:
1969
Cap Rate.:
3.28
Gross Multiplier:
18.05
Gross operating income:
451656
Gross scheduled income:
484680.0
Taxes expense:
16384
Operating expense:
175967
Projected taxes expense:
105000
Gross equity:
8123091
Motive / Want:
Cash Out/Sale
Financial Information Source:
Owner
Head West on Garnet Ave, go R on Lamont St, L on Chalcedony.
Short Sale:
No
Listing Type:
Exclusive Right (R)
Parking:
Spaces
Number of Carports:
0
Total Parking Spaces:
16
Cooling:
None
Heating:
Radiant
Laundry:
Leased
Construction Material:
Drywall, Stone, Stucco
Roof:
Other/Remarks
Floor finish:
Other/Remarks
Terms:
Cash, Cash to New Loan
Number of Units with Garages:
0
Number of Leased Appartments:
16
Parcel Number:
416-431-23-00
Number of Units in Unit 1:
12
Unit 1 Furnished:
N
Total Rent for Unit 1:
29690.0
Bedrooms for Unit 1:
1
Bathroom 1:
1.0
Number of Units in Unit 2:
4
Unit 2 Furnished:
N
Total Rent for Unit 2:
10700.0
Bedrooms for Unit 2:
2
Bathroom 2:
2.0
Listed by eXp Realty of California, Inc
Data was last updated June 3, 2024 at 11:10 PM (UTC)
Gerri-Lynn Fives
Pacific Sotheby's Intl Realty

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