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2801 Oceanfront Walk

San Diego, CA 92109
  • $12,880,000
  • STATUS: ACTIVE
  • ON SITE: 16 Days
  • ID#: 240007091
$12,880,000
  • 9
    BEDS
  • 0.15
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

PLEASE DOWNLOAD ATTACHED 32-PAGE OFFERING MEMORANDUM FOR COMPLETE DETAILS ABOUT THIS UNIQUE PROPERTY. We are pleased to present this exceptionally rare opportunity to acquire the largest ocean front apartment building in San Diego’s Mission Beach, The Mariner Apartments. This sixteen-unit building enjoys 84 feet of beach frontage along a 6,700+ square foot lot in beautiful South Mission Beach. This is the first time this building has ever been offered for sale. The Mariner Apartments provide an opportunity for a forward-thinking investor to perform high-end renovations and create a trophy asset for their portfolio. » An investor could modernize and upgrade the building while retaining the existing unit floorplans. » Contingent upon City of San Diego approvals, a purchaser could also reconfigure floorplans to divide the 2,500+ sf penthouse into multiple oceanfront apartments and/or merge adjacent studios into larger units. » Alternately, a buyer may wish to retain and customize the penthouse for personal use. All of the units feature private patios or decks. The seven 2-bedroom units and the 2,500+ sf third floor penthouse face the ocean. The three ground floor 2-bedroom units open out onto large private patios which offer indoor-outdoor living and direct beach access. The four third-floor studios enjoy wonderful views over Mission Bay.

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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/149171066
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2801 Oceanfront Walk San Diego, CA 92109

  • Price: $12,880,000
  • Status: ACTIVE
  • On Site: 16 Days
  • ID#: 240007091
9
Beds
7
Baths
0
½ Baths
0.15
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
PLEASE DOWNLOAD ATTACHED 32-PAGE OFFERING MEMORANDUM FOR COMPLETE DETAILS ABOUT THIS UNIQUE PROPERTY. We are pleased to present this exceptionally rare opportunity to acquire the largest ocean front apartment building in San Diego’s Mission Beach, The Mariner Apartments. This sixteen-unit building enjoys 84 feet of beach frontage along a 6,700+ square foot lot in beautiful South Mission Beach. This is the first time this building has ever been offered for sale. The Mariner Apartments provide an opportunity for a forward-thinking investor to perform high-end renovations and create a trophy asset for their portfolio. » An investor could modernize and upgrade the building while retaining the existing unit floorplans. » Contingent upon City of San Diego approvals, a purchaser could also reconfigure floorplans to divide the 2,500+ sf penthouse into multiple oceanfront apartments and/or merge adjacent studios into larger units. » Alternately, a buyer may wish to retain and customize the penthouse for personal use. All of the units feature private patios or decks. The seven 2-bedroom units and the 2,500+ sf third floor penthouse face the ocean. The three ground floor 2-bedroom units open out onto large private patios which offer indoor-outdoor living and direct beach access. The four third-floor studios enjoy wonderful views over Mission Bay.
Exterior Features

Carports 10 Construction BlockDrywallFrameStucco Exterior Cable AvailableMetal FencePart FencedPart Landscaped Lot Dimensions Approx 84 x 79 Parking CarportsGaragesSpaces Parking Spaces Total 17 Roof Tar & Gravel Units With Garages 1

Interior Features

Cooling None Floor Coverings TileWall to Wall Carpet Floors SlabWood Heating Radiant Laundry Leased Sq Ft Of Improvement 10609 Stories 3 Story Unit Furnished2 3 Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Unit Furnished6 No Units With Dishwashers 1 Units With Ranges 16 Units With Refrigerators 16

Property Features

Actual Gross Scheduled Income 530952.0 Actual Operating Expense 275450 Assumable Finance 0 Buildings 1 Complex Features CTV Avail Existing Financing Clear Financial Information Source Limited Info Flood Zone Hazard Unknown Geological Hazard Zone Hazard Unknown Gross Equity 12880000 Gross Multiplier 24 Have Oceanfront Apartments Leased Apartments 11 Mandatory Remarks None Known Market Area Coastal South Motive Want SaleCash Out Present Loan none Projected Cap Rate 3.5 Projected Gross Multiplier 16 Projected Gross Scheduled Inc 784920 Projected Net Income 448251 Projected Operating Expense 305272 Sq Ft Source Buyer to VerifyTax Record Tenant Pays Electric Y Tenant Pays Gas N Tenant Pays Water N Terms CashCash to New Loan Unit Number1 1 Unit Number2 3 Unit Number3 1 Unit Number4 3 Unit Number5 1 Unit Number6 7 Unit Rent Total1 5700 Unit Rent Total2 18000 Unit Rent Total3 5000 Unit Rent Total4 8802 Unit Rent Total5 2400 Unit Rent Total6 9934 Unit Rent1 5700 Unit Rent2 6000 Unit Rent3 5000 Unit Rent4 2934 Unit Rent5 2400 Unit Rent6 1419 Unit Type Apartment Zoning RM

San Diego MLS logo Listing provided courtesy of Robert Vallera of Greater San Diego Association: 858-458-3337. 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