Description
This is an amazing opportunity to own one of San Diego County’s largest coastal Apartment Buildings. The bonus is that this property is very well maintained by long term ownership & management but there is immediate upside in the Rental Income! Rents are 30% below market. 50% of the units have been upgraded along with a substantial amount of Capital Improvements to the Exteriors. Opportunity to raise rents and initiate a RUBS (Utility Reimbursement) program to increase NOI. Stabilized cap rate close to 5.5% cap. Seller may consider carrying a 1st or 2nd Note. Call agent for details.
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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 © 2022 San Diego MLS. Updated: 21st March, 2023 8:15 AM (UTC)
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, noncommercial 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 © 2022 San Diego MLS. Updated: 21st March, 2023 8:15 AM (UTC)
