1524 Missouri St 8 Unit Apartment Building $6,979,600 CAD ($872,450 CAD/Unit) 3.63% Cap Rate San Diego, CA 92109

Voit Real Estate Services is pleased to present 1524 Missouri Street, a superbly located two-story, 8-unit apartment building. Situated just three blocks south of Garnet Avenue with lighter through traffic, just blocks from both the beach and bay while being conveniently close to all that Pacific Beach offers. It is just a few blocks from a Vons and Trader Joe’s shopping center and in close proximity to various restaurants, bars/pubs, and trendy retailers along Grand and Garnet Avenues. Additionally, it is centrally located to most of the schools in the community. WalkScore rates this location as a “Very Walkable, most errands can be accomplished by foot.” Built in 1973, the owner extensively renovated the property in its entirety in 2021 sparing no expense.
The Rent Roll and Proforma outline current and projected market rents, indicating a potential 4.8%+ upside in existing market rent. This goes up substantially by converting the back two-car garages into 350 SF ADUs. Jumping from 4.8% to over 18%.