Listed by Marcus & Millichap - Downtown San Diego
$19,000,000
The Marquis
Details
APN 452-200-34-00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 41,330
Net Rentable (SqFt) 41,330
Units 58
Cap Rate 5%
NOI $950,668
Price per SqFt $460
Class C
Year Built 1921
Year Renovated 2008/2025
Buildings 1
Stories 6
Acreage 0.300
Zoning CC-3-10
Parking Spaces 11 spaces
Parking Per SqFt 0.27
Investment Type Value Add
Ownership Fee Simple
Central Hillcrest | 58 Units | 5.00% Current Cap Rate with Significant Upside
Investment highlights
- Unrivaled Hillcrest Location - On University Avenue with Exceptional Walkability
- Rarely Traded Urban Asset Size of 58 Units
- Significant Upgrades Throughout in Recent Years - Electrical, Elevator, Roof, Windows, Common Areas, Security System, Fire System
- On-Site Amenities: Fitness/Yoga Center, Business Center, Leasing Office
- Significant Upside Through Further Interior Renovations & Utilizing Common Areas
- Upside in Rents and Opportunity For Additional Unit Amenities, Possible ADU Conversions in the Large Basement Space
- Additional Income from (2) Cell Tower Leases
Listing Contacts
Listed by Marcus & Millichap - Downtown San Diego
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$950,668.00
$79,222.33/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
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