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$ 2,125,000
Est. payment | /mo
6,246 Sqft Lot
$ 2,125,000
Est. payment | /mo
6,246 Sqft Lot
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 250034227SD
HOA Y/N No
Year Built 1947
Lot Size 6,246 Sqft
Property Description
It is a privilege to present for sale 1150-56 Reed Avenue in Pacific Beach! A very well-located four (4) unit property, held by the same family as its original developer for 80+ years! Comprised of all (4) one-bedroom/one-bathroom units (+/-525 SF each), spread across two single story duplexes with pitched roofs and a beachy cottage vibe. Each unit has its own yard or dedicated patio area, and there are four (4) surface off-street parking spaces at the alley. Managed from afar for quite some time, it seems there is upside in operating performance either by way of: 1) a future redevelopment of 3-story structures that would max out rentable building area in this highly coveted location, allowing for much more income once complete and rented as a modern coastal product; 2) modernizing existing units to a degree sufficient to justify higher rents in-line with updated product in the immediate area; or 3) via modernization of existing units and operating (some or all) as short term rental units after any turnovers may occur. Tenants love being within walking distance to the beach (+/-4.5 blocks), Sail Bay (+/-3 blocks), plus dining/nightlife and recreation options abound. Don't miss this opportunity to acquire an underdeveloped lot in such a prized coastal location, with ability to increase current revenue at the current units, while working towards a longer term plan geared towards maxing out density and building square footage eventually.
Location
State CA
County San Diego
Area 92109 - Pacific Beach
Building/Complex Name NA
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater, Tankless Water Heater
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4231521500
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Joseph Burrough Palma Commercial
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Kai Kim
REALTOR® | Lic# 02040060