2051 2nd Ave

San Diego, CA 92101

For Sale (Off Mkt)

$1,389,995

1/18

Property Description

We are pleased to present the 2nd Ave Cottages, an off-market opportunity in Bankers Hill/Park West. Currently operated as short-term rentals, this well-maintained property exudes a ton of peaceful charm in a quiet, family-friendly downtown-adjacent location. Originally constructed in 1939, the property consists of (4) bungalow-style, 1bed+1bath units averaging 416 SF each, for a total rentable SF of 1,664. Situated on a larger, 5,239 SF lot, the property provides mature landscaping including citrus trees and several private yards for tenant enjoyment. The units have been renovated in recent years with newer flooring, bathrooms, paint, and kitchen gas ranges. Due to the short-term rentals, current income is significant, offering investors between 5-6% cash-on-cash returns with 35% down. Current ownership operates a portfolio of similar short-term rental properties, and is open to continuing to manage the properties for a new buyer post-closing. Check out: mysdrental.com for more info.

Property Details

Property Type

Multifamily

Units

4

SqFt

1,664

Unit Mix

Year Built

(4) 1+1

1939

Price

$1,389,995

Price/Unit

$347,499

Price/SF

GRM

$835

9.72

Cap Rate

6.44%

Property Location

Bankers Hills

Contact Agent

Maxim Delbecq

858.333.7701

DRE # 01964069

LOCATION

1550 Hotel Circle North #225

San Diego, CA 92108

CONTACT

Tel: 619-550-4515

Email: info@topguncre.com

LINKS
  • Facebook Social Icon

© 2020 Top Gun CRE, Inc. | All Rights Reserved