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1228 Grand Ave 4 Unit Apartment Building $3,473,800 CAD ($868,450 CAD/Unit) San Diego, CA 92109
Investment Highlights
- Existing four-unit income property with Plans to add three ADUs
- Projected annual gross income of $393,600 | Current monthly rent of $12,728
- Approximately 6,218-square-foot coastal site | RM-2-5 zoning with CCHS potential
- Prime Pacific Beach location | Close to the beach and Mission Bay
Executive Summary
The Bove Investment Team is pleased to present 1228 Grand Avenue, an income-producing four-unit property with plans to add three ADUs in the heart of Pacific Beach. The existing residences consist of one- and two-bedroom units totaling approximately 3,700 square feet and currently generate $12,728 in monthly rental income.
The proposed plans would expand the property to seven residences totaling approximately 6,952 square feet. The planned unit mix includes one-, two-, four-, and five-bedroom residences, creating a differentiated coastal rental product with projected gross income of approximately $393,600 annually upon completion and stabilization. The conceptual plans are nearing completion but have not yet been submitted for approval.
Situated on an approximately 6,218-square-foot lot, the property benefits from RM-2-5 zoning and is located within the Complete Communities Housing Solutions Coastal Program area. Its central Pacific Beach location provides convenient access to the beach, Crystal Pier, Mission Bay, Garnet Avenue, dining, shopping, and year-round recreation.
1228 Grand Avenue offers investors immediate cash flow, meaningful rental upside, and the opportunity to increase density in one of San Diego’s most desirable coastal rental markets.
The proposed plans would expand the property to seven residences totaling approximately 6,952 square feet. The planned unit mix includes one-, two-, four-, and five-bedroom residences, creating a differentiated coastal rental product with projected gross income of approximately $393,600 annually upon completion and stabilization. The conceptual plans are nearing completion but have not yet been submitted for approval.
Situated on an approximately 6,218-square-foot lot, the property benefits from RM-2-5 zoning and is located within the Complete Communities Housing Solutions Coastal Program area. Its central Pacific Beach location provides convenient access to the beach, Crystal Pier, Mission Bay, Garnet Avenue, dining, shopping, and year-round recreation.
1228 Grand Avenue offers investors immediate cash flow, meaningful rental upside, and the opportunity to increase density in one of San Diego’s most desirable coastal rental markets.
Property Facts
| Price | $3,473,800 CAD | Building Class | C |
| Price Per Unit | $868,450 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,794 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-2-5 - Residential/Multi-fam medium density zoning | ||
| Price | $3,473,800 CAD |
| Price Per Unit | $868,450 CAD |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,794 SF |
| No. Stories | 2 |
| Year Built | 1952 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | RM-2-5 - Residential/Multi-fam medium density zoning |
Amenities
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 2 | - | 1,000 - 1,100 |
| 2+2 | 1 | - | 950 |
| 1+1 | 1 | - | 650 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 423-161-16 | Improvements Assessment | $602,284 CAD |
| Land Assessment | $2,630,664 CAD | Total Assessment | $3,232,948 CAD |
Property Taxes
Parcel Number
423-161-16
Land Assessment
$2,630,664 CAD
Improvements Assessment
$602,284 CAD
Total Assessment
$3,232,948 CAD
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1228 Grand Ave
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