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Adelle Mar 2741 Hornblend St 10 Unit Apartment Building $4,885,720 CAD ($488,572 CAD/Unit) 4.33% Cap Rate San Diego, CA 92109
EXECUTIVE SUMMARY
REDUCED PRICE! Please contact the listing agent for the Offering Memorandum. Adelle Mar Apartments is a prime multifamily investment opportunity located in the highly desirable coastal community of Pacific Beach, San Diego. This well-maintained asset features an at tractive unit mix comprising two studios, seven one-bedroom/ one-bath units, and one two-bedroom/one-bath unit. The property has benefited from recent capital improvements and major building system upgrades, with select units receiving moderate interior renovations. For investors seeking value-add potential, there is significant upside through a comprehensive renovation program that could substantially increase rental income.
Strategically located west of Interstate 5 and within walking distance to Mission Bay and Mission Bay Park—a 4,600-acre aquatic recreation area—Adelle Mar Apartments offers residents easy access to scenic beaches, outdoor activities, and an array of popular local restaurants, retail, and entertainment options. The neighborhood maintains a quiet, beach-town atmosphere with plentiful street parking.
DO NOT WALK THE PROPERTY WITHOUT THE LISTING BROKER PRESENT. TENANTS ARE NOT AWARE OF THE BUILDING SALE. PLEASE DO NOT APPROACH OR DISTURB ANY OF THE TENANTS.
Strategically located west of Interstate 5 and within walking distance to Mission Bay and Mission Bay Park—a 4,600-acre aquatic recreation area—Adelle Mar Apartments offers residents easy access to scenic beaches, outdoor activities, and an array of popular local restaurants, retail, and entertainment options. The neighborhood maintains a quiet, beach-town atmosphere with plentiful street parking.
DO NOT WALK THE PROPERTY WITHOUT THE LISTING BROKER PRESENT. TENANTS ARE NOT AWARE OF THE BUILDING SALE. PLEASE DO NOT APPROACH OR DISTURB ANY OF THE TENANTS.
PROPERTY FACTS
| Price | $4,885,720 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $488,572 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.33% | Building Size | 5,975 SF |
| Gross Rent Multiplier | 14.4 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - Multi-Family 10 units or less | ||
| Price | $4,885,720 CAD |
| Price Per Unit | $488,572 CAD |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 14.4 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,975 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3 - Multi-Family 10 units or less |
AMENITIES
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 425 |
| 1+1 | 7 | - | 600 - 625 |
| 2+1 | 1 | - | 800 |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 424-122-08 | Improvements Assessment | $273,778 CAD |
| Land Assessment | $102,509 CAD | Total Assessment | $376,287 CAD |
PROPERTY TAXES
Parcel Number
424-122-08
Land Assessment
$102,509 CAD
Improvements Assessment
$273,778 CAD
Total Assessment
$376,287 CAD
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Adelle Mar | 2741 Hornblend St
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