Listed by Urban Property Group, Inc., Urban Property Group
$11,750,000
Trolley Lofts
Details
APN 534-186-12
Property Type Retail, Multifamily
Sub Type QSR/Fast Food, Market
Square Footage 50,000
Net Rentable (SqFt) 41,655
Units 39
Cap Rate 6.42%
NOI $754,777
Tenancy Multi
Pro-Forma Cap Rate 8%
Pro-Forma NOI $939,945
Price per SqFt $235
Year Built 1920
Year Renovated 1996
Buildings 1
Stories 5
Lot Size (SqFt) 10,028
Zoning Commercial
Investment Type Redevelopment
Mixed-Use Opportunity | Potential Reposition/Redevelopment | Downtown San Diego
Marketing description
- Centrally located in Downtown - Core is the epicenter for financial and government operations
- Fantastic corner building on 7th & C - located on the San Diego Trolley line with over 30M annual passengers
- All leases are below market, providing significant repositioning potential
- Historic high occupancy - vacancies fill quickly
- Rare on-site parking with 45 underground spaces
- 27 of the 39 residential units are subject to an income restriction of up to 120% of median income on household size
- Short walk to Gaslamp, Campus at Horton, City Offices, City College and new UCSD Downtown Campus
- Downtown features 3x the regional growth of residents
- Game changers for Downtown include Campus at Horton and RaDD, bringing over 8,000 jobs
Listing Contacts
Listed by Urban Property Group, Inc., Urban Property Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$754,777.00
$62,898.08/mo
Valuation Metrics
0
DSCR
6.42%
Cap Rate
6.42%
ROI
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