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Tamra Frost

[email protected] +1(619) 890-7688

$2,250,000

Est. payment - /mo

3 Beds

3 Baths

0.3 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2601533

Bedrooms 3

Lot Size 0.296 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Priced for an immediate sale at $45k per unit below the 1980s+ Sale Comp Average over the last year! 3854 50th Street presents a compelling opportunity to acquire a low-maintenance 1980s construction asset in a historically high-demand yet affordable Central San Diego location. This workhorse investment combines strong in-place income with desirable infrastructure improvements and systems. The property benefits from major infrastructure improvements and durable 1980s-era construction features that materially reduce long-term ownership risk and expense. The building features ABS sewer lines and new copper water supply lines that have been rerouted from the slab to the buildings exterior a significant upgrade compared to older assets with aging cast iron plumbing. The electrical system consists of original 1980s Arrow Hart Murray panels, which are not flagged by insurance carriers. Improvements include a new roof (2020), dual-pane windows, parking lot repave, and new code-compliant catwalk railings. Seasoned investors recognize the substantial cost burden associated with replacing cast iron plumbing, in-slab water lines, and outdated electrical panels expenses that can average $25,000$35,000 per unit, excluding demolition and reconstruction costs. This asset avoids those major capital exposures, offering a more predictable and expense-controlled operating profile. The property produces a strong 6.10% cap rate and 9.95 GRM with the immediately available rent increases and a 6.86% proforma cap rate post full interior renovations. Unit interiors have received light updates ove

Location

State CA

County San Diego

Direction GPS

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 4716213900

Acceptable Financing Conventional

Listing Terms Conventional

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Listed by Maxwell Brown, DRE#02127395 Commercial Asset Advisors

Nearby School & Business

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Tamra Frost

+1(619) 890-7688

Agent | CA BRE #01870290

Agent CA BRE #01870290

San Diego Communities

3854 50th Street San Diego, CA 92105

Tamra Frost

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information