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2125 Reed Avenue

San Diego, CA 92109
  • $9,200,000
  • STATUS: ACTIVE
  • ON SITE: 57 Days
  • ID#: 240003693
$9,200,000
  • 1
    BEDS
  • 0.3
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Reed Ave is a 20 unit property comprised of all 1bd/1bt units, located just minutes from the ocean and includes an on site laundry facility. 13 of the 20 units have been remodeled with vinyl flooring, new cabinets and paint along with replacing bathtubs and fixtures as needed. Though currently in good condition, there is upside to increase rents. This amazing cash flow property is nestled between La Jolla and Mission Bay, and Mission Beach with excellent value add opportunities. This wonderful area along the San Diego coastline extends approximately 3 miles along the Pacific Ocean and stretches east to Interstate 5.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.redtreerealty.com/homes/147753746
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2125 Reed Avenue San Diego, CA 92109

  • Price: $9,200,000
  • Status: ACTIVE
  • On Site: 57 Days
  • ID#: 240003693
1
Beds
1
Baths
0
½ Baths
0.3
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
Reed Ave is a 20 unit property comprised of all 1bd/1bt units, located just minutes from the ocean and includes an on site laundry facility. 13 of the 20 units have been remodeled with vinyl flooring, new cabinets and paint along with replacing bathtubs and fixtures as needed. Though currently in good condition, there is upside to increase rents. This amazing cash flow property is nestled between La Jolla and Mission Bay, and Mission Beach with excellent value add opportunities. This wonderful area along the San Diego coastline extends approximately 3 miles along the Pacific Ocean and stretches east to Interstate 5.
Exterior Features

Parking Spaces Total 11 Units With Garages 0

Interior Features

Sq Ft Of Improvement 10960 Unit Furnished1 No

Property Features

Actual Gross Scheduled Income 485520.0 Actual Operating Expense 184199 Assumable Finance 2950000 Buildings 1 Gross Equity 4600000 Gross Multiplier 18.95 Have Apartments Leased Apartments 20 Mandatory Remarks None Known Market Area Coastal South Motive Want Sell Projected Cap Rate 3.99 Projected Gross Multiplier 16.10 Projected Gross Scheduled Inc 564000 Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water N Unit Number1 20 Unit Rent Total1 38980 Unit Rent1 $1798-$2100

San Diego MLS logo Listing provided courtesy of Jordan Concepcion of Keller Williams Realty: 858-461-9910. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Red Tree Realty | Keller Williams La Jolla
4138 Napier St.
San Diego CA, 92110