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1057 Grand Ave 8 Unit Apartment Building Offered at $6,659,393 CAD at a 3.48% Cap Rate San Diego, CA 92109
Investment Highlights
- Vacation Rental Income
- 4 Garages
- 3.5 Blocks to the Beach in PB
- Possible Garage-to-ADU Conversion
Executive Summary
$4,790,000 This is an 8-unit complex at 1057-1071 Grand Ave with 8 garages and only 3.5 blocks to the ocean. All units consist of 2 bedroom, 1 bath, 825 sqft with private patios. All are residential units totaling 6,600 sqft on a 6,245 sqft lot. Seller is willing to sell lots separately with 4 units on each. Current rents are extremely low. CAP can be 4.5% at $3,500 a month rent w/ no updating. Also, may be potential for garage-to-ADU conversions. 8 garages and 8 parking spaces. This provides a rare opportunity to own multifamily real estate just steps from the funnest beach in San Diego, Pacific Beach. Three units are currently STVRs (2 of them pictured), one unit is vacant, the 3 others are long term. There are still STVR licenses available in the city of SD! ...DO NOT DISTURB TENANTS
Property Facts
| Price | $6,659,393 CAD | Property Type | Multifamily |
| Price Per Unit | $832,424 CAD | Building Size | 6,600 SF |
| Sale Type | Investment | Average Occupancy | 50% |
| Cap Rate | 3.48% | No. Stories | 2 |
| Gross Rent Multiplier | 18 | Year Built | 1960 |
| No. Units | 8 | Parking Ratio | 1.21/1,000 SF |
| Zoning | RM 2-5 - RM 2-5, Height maximum 40ft | ||
| Price | $6,659,393 CAD |
| Price Per Unit | $832,424 CAD |
| Sale Type | Investment |
| Cap Rate | 3.48% |
| Gross Rent Multiplier | 18 |
| No. Units | 8 |
| Property Type | Multifamily |
| Building Size | 6,600 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | RM 2-5 - RM 2-5, Height maximum 40ft |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 825 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
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1057 Grand Ave
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