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Key Details
Sold Price $2,000,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Square Footage 662 sqft
Price per Sqft $3,021
Subdivision Ocean Beach
MLS Listing ID 240008304
Sold Date 08/01/24
Bedrooms 4
Full Baths 3
HOA Y/N No
Year Built 1947
Property Description
We're excited to present a distinctive investment opportunity with 4642-46 Niagara Ave, nestled in the vibrant and sought-after neighborhood of Ocean Beach in San Diego, California. This unique property features a 3-unit, individually condo-mapped apartment complex constructed in 1953, comprising one detached 2 Bed / 1 Bath house and two 1 Bed / 1 Bath units situated above three single-car garages. The property boasts an impressive Walk Score of 94, underscoring its appeal with easy pedestrian access to local amenities and the famed OB Pier, located just four blocks away. With its prime coastal location, the property has been self-managed and meticulously maintained, showcasing its potential for immediate occupancy or for strategic renovations to elevate rental incomes to current market rates, thus enhancing overall cash flow and investment value. The convenience of the nearby 8 and 5 freeways offers effortless commuting options, making this an exceptional opportunity to secure a value-add asset in one of San Diego's premier coastal rental markets, where demand remains high and growth potential abounds. This offering represents a chance not only to invest in a piece of San Diego's coastal charm but also to capitalize on the considerable rental growth prospects in a community known for its laid-back lifestyle and scenic beauty.
Location
State CA
County San Diego
Community Ocean Beach
Area Ocean Beach (92107)
Building/Complex Name Complex
Interior
Cooling Other/Remarks
Exterior
Exterior Feature Other/Remarks
Fence Other/Remarks
Roof Type Other/Remarks
Building
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, Exchange, Seller May Carry, VA, Other/Remarks
Space Rent $2,300
Listing Terms Cash, Conventional, Exchange, Seller May Carry, VA, Other/Remarks
Financing Cash
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Bought with Thomas McCartin • Marcus & Millichap