Sold
1614-20 Reed Ave.
Pacific Beach CA, 92109
$3,525,000
$611.34 per sqft
Sold
8 Beds
5,766 sqft
Commercial
JUST REDUCED!!!! This is the BEST Pacific Beach value add opportunity that I have seen in my thirty plus year career! The property is located on a low traffic street within a mile of the coast and less than three quarters of mile from Mission Bay and is within minutes of I-5 and I-8. Four one bedroom and four two bedroom units which is a better unit mix than 70% of buildings between 5-20 units. Rents are currently well below market. Property manager reports that all leases are month to month. Owner of a twin renovated building three blocks away states his rents are $3,000 for one bed and $4,200 for two bed units. Making renovations can make the rents yield an NOI better than $200k annually. Most of the units have vinyl flooring, upgraded kitchens and baths, attractive new tile showers, stainless steel appliances, tasteful interior decor, and ceiling fans. Rents shown reflect a 10% increase effective 5/1/23. For a qualified rehabber a 60% loan to value may be possible. Please include a completed "AS-IS addendum" from documents section with all offers.
220024084
MLSⓇ ID
September 21, 2022
Listed
November 23, 2024
Updated
Map
1614-20 Reed Ave.
Pacific Beach CA, 92109
Interior Features
Total Stories
2
Bedrooms
8
Appliances
Range, Refrigerator
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.14 Acres
Other Property Details
Area Name
Coastal South
Taxes
$41,828
Tax Frequency
Annually
Days on Market
120
Garage
No
Parking Total
5
View
No
County
San Diego
Pool
No
Listing History
Date | Event | Price |
|---|---|---|
4/19/2023 | Price change | $3,525,000 -2% |
4/19/2023 | Unknown | — |
Listed by Apartment Consultants, Inc., Terry Moore,
Listing Contact: 619-889-1031
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Data last updated 12:05 AM UTC, 11/23/2024
