$11,995,000
930 Felspar St
Details
APN 415-602-10-00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 12,000
Net Rentable (SqFt) 12,000
Units 24
Cap Rate 4.13%
NOI $495,910
Occupancy 100%
Pro-Forma Cap Rate 5.15%
Pro-Forma NOI $617,367
Price per SqFt $1,000
Broker Co-Op Yes
Year Built 1960
Year Renovated 2023
Buildings 1
Stories 2
Acreage 0.320
Zoning R-3:RESTRI
Parking Spaces 24 spaces
Parking per 1,000 SqFt 2.00
Investment Type Value Add
Occupancy Date 02/06/2026
Multifamily | 24 Units | 2 Blocks to the Beach
Marketing description
A twenty-four (24) unit property located just off the coast of Pacific Beach, San Diego. The property is situated on a 14,077 square foot lot and is comprised of eight (8) studio units and sixteen (16) one bedroom/one-bath units. The property was recently remodeled inside and out with luxury finishes and a modern design. All units have been upgraded with new cabinets, quartz countertops, vinyl plank flooring, stainless appliances, and lighting fixtures. The property’s landscaping, windows, and common areas have also been upgraded. Pacific Beach is one of the best multifamily investment neighborhoods in San Diego. Additionally, this property is has a walk score of 93. Residents enjoy being just a few blocks from the Pacific Ocean and close to Garnet and Grand Ave, allowing residents to enjoy both the beach and local shops and restaurants all within just a short walk. This property is an opportunity for an investor to participate in the upside of this stable and growing beach community.
Listing Contacts
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$495,910.00
$41,325.83/mo
Valuation Metrics
0
DSCR
4.13%
Cap Rate
4.13%
ROI
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