$ 1,675,000
4349 50th St San Diego, CA 92115
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$ 1,675,000
Est. payment | /mo
6,251 Sqft Lot
$ 1,675,000
Est. payment | /mo
6,251 Sqft Lot
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 240018393
Lot Size 6,251 Sqft
Property Description
4349-55 50th Street is a 6-unit garden-style apartment complex that consists of 4,850 rentable square feet built in 1957 and situated on a 6,251 square foot lot. The unit mix consists of five well laid out, large 2 Bedroom / 1 Bathroom units that are approximately 850 square feet and one spacious 1 Bedroom / 1 Bathroom unit that is approximately 600 square feet. The property features four large single car garages with walk-in access doors to the interior of the property, common washer and dryer hookups, and nine surface parking spaces. The property has been well-maintained with a new roof, new sewer main, new windows and new flooring in the units. There is new LED lighting and push-code gate entrances. Maximum rent increases can go into effect in March of 2025 making immediate upside possible without heavy renovation. Currently, the owner bills-back the tenants for utilities and rents are 30% below market. The garages have large footprints and could be converted to approximately 780 square foot and 520 square foot ADUs with entry to the courtyard. Buyer to investigate and verify. The property runs with low expenses and uses city trash and recycling. The property is located in the Complete Communities Housing Solution Overlay Zone which are special areas the city has focused their efforts to improve housing, mobility, parks and infrastructure. Properties in these designated areas are positioned well for long term property-value appreciation.
Location
State CA
County San Diego
Area San Diego (92115)
Exterior
Total Parking Spaces 12
Building
Story 2
Others
Space Rent $118,980
Listed by Benn Vogelsang • NorthMarq Multifamily
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "