Listed by WHITEWATER Commercial Real Estate
$2,025,000
None
Details
APN 4231931800
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,510
Units 3
Cap Rate 3.82%
NOI $77,408
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 4.09%
Pro-Forma NOI $82,832
Year Built 1951
Year Renovated 2024
Buildings 2
Stories 1
Investment Type Owner/User
Crown Point Cottages | 3 Units | Pacific Beach
Marketing description
1566 Reed Ave presents the rare opportunity to acquire a charming 3-unit multifamily property in the highly desirable Crown Point neighborhood of Pacific Beach. Located just blocks from Mission Bay, beaches, Trader Joe’s, restaurants, cafés, and nightlife, the property offers an exceptional coastal lifestyle with strong and consistent rental demand. The property consists of three private cottage-style 1-bedroom / 1-bathroom units, including a newly constructed rear unit and two newly updated front units featuring modern finishes and thoughtful design. Residents benefit from private fenced yard spaces, in-unit laundry, air conditioning, quartz countertops, and updated tiled bathrooms. 1566 Reed Ave offers investors the opportunity to acquire a turnkey coastal asset in one of San Diego’s most sought-after and supply-constrained beach communities, positioned for long-term appreciation and continued tenant demand.
Investment highlights
- Prime Crown Point Location – Blocks from Mission Bay, beaches, dining, shopping, and entertainment.
- Turnkey 3-Unit Asset – Well-maintained multifamily investment in Pacific Beach.
- Three Private Cottages – Three 1BR/1BA cottage-style units with minimal shared walls.
- 2024 New Construction – One newly built rear unit with two renovated front units.
- Private Fenced Yards – Each unit features its own secured outdoor space.
- Modern Interior Finishes – Quartz countertops, updated kitchens, and tiled bathrooms.
- In-Unit Laundry – All units include stackable LG WashTower laundry.
- Air Conditioning – Mini-split A/C in the new unit and A/C in every residence.
- Strong Rental Demand – Located in one of San Diego's premier coastal rental markets.
- Long-Term Appreciation – Exceptional investment in a supply-constrained beach community.
Listing Contacts
Listed by WHITEWATER Commercial Real Estate
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$77,408.00
$6,450.67/mo
Valuation Metrics
0
DSCR
3.82%
Cap Rate
3.82%
ROI
Map
Zoning
RM-1-1 ResidentialMulti FamilyResidential Multiple Unit
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 190 uses
View all 190 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Name
License
Brokerage
Brokerage Phone
Brokerage Address
Is there information that looks off?
