Listed by Carson Trujillo, Marcus & Millichap,

1478 Hornblend St

San Diego, CA, 92109

$4,995,000

$4,995,000
Active
Active
 - For Sale
property_type
Commercial
Pleased to present for sale an 8-unit value add apartment complex in the Pacific Beach neighborhood of San Diego. Constructed in 1969, this property rests on a 6,240 SF lot and offers 5,120 of rentable SF. 1478 Hornblend St is comprised of (3) 2-bedroom/1-bathroom units and (5) 1-bedroom/1-bathroom units. In addition, this property has two double garages facing the alley that can converted into two ADU studio units. One of the unit’s interiors has been recently renovated and the other seven lightly renovated within the last few months. The property is fully furnished and currently rented as short-term vacation rentals. Investors may continue to operate as is, rent as monthly rentals, or further renovate the property to increase rents. *6.23% cap rate is based on current operations as short term vacation rentals. Pacific Beach is one of San Diego’s most profitable rental markets which continues to attract high quality and reliable tenants. Located between the neighborhood’s two main streets, Grand Ave and Garnet Ave with a walk score of 96, this property is perfectly situated within a short walk to Pacific Beach’s top bars, restaurants, shops, and attractions. 1478 Hornblend St is very rare opportunity to acquire a value-add asset in one of Southern California’s most desirable coastal markets.
MLS® ID:
220009042SD
Listed:
4/17/22
Updated:
8/19/22

Other Property Details

Area Name
92109 - Pacific Beach
Garage
No
Parking
N
View
N
County
San Diego
Pool
No

Property History

Date
Event
Price
Value
6/30/22
Price Change
$4,995,000
-2%

 

Listed by Carson Trujillo, Marcus & Millichap,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/19/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 10:09 PM UTC, 8/19/22

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