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Key Details
Sold Price $3,836,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 230002863
Sold Date 08/03/23
Acres 0.56
Property Description
DO NOT DISTURB TENANTS, SHOWN ONLY WITH ACCEPTED OFFER. E Ave Apartments is a charming value-add 16-unit cottage-style property for sale in the heart of National City in San Diego. Set in a desirable single-family layout, the property enjoys easy access to numerous retail shops and restaurants, Kimball Park, South Bay Military bases, and Interstate-5. E Avenue Apartments offers a rare design of eight duplexes, all with private patios. All buildings feature flat-roof style architecture with new exterior paint and gated patios for extra private space. Half of the units have been renovated, while the rest are untouched and have further room to improve and push rents closer to market. Behind 4 of the duplexes, there is additional room to either add on to the existing units or build laundry facilities on site. Any possible construction viability would need to be determined strictly by the buyer. The complex offers investors the opportunity to purchase a well-maintained property with tremendous upside in one of San Diego’s most historic neighborhoods. Any investor will surely enjoy low vacancies, high rent growth and great cash flow for many years to come.
Location
State CA
County San Diego
Area National City (91950)
Exterior
Total Parking Spaces 14
Building
Story 1
Others
Space Rent $264,540
Financing Cash to New Loan
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Bought with Seth R Watje • Starker West, Inc.