South Mission Bay Villas
8 Unit Apartment Building | $7,499,000 ($937,375/Unit) | 3.90% Cap Rate | San Diego, CA 92109
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $7,499,000
- Property Type
-
Multifamily
- Square Feet
- 6,660 SF
Listing Contacts
Peter Hauser
Verified Profile
Matt Hauser
Verified Profile
Jordan Hauser
Verified Profile
- Property Info
Property Overview
Price improvement. The South Mission Bay Villas offer a rare opportunity to own bay front property in Mission Beach, San Diego, California. This property sits on two lots and can be utilized as a rental property. The property is currently used as a hybrid owner-user plus rental. The property can be operated immediately as a 9 month winter rental, and 3 month summer rental. The property can also be used as a vacation rental with proper documentation with the city. Properties with bay frontage in South Mission Beach are rarely available.
This unique property also presents itself as a prime development opportunity, with the ability to scrape the existing structures and build new condominiums, or keep the current structures in place and process with the department of real estate to sell individually as a TIC tenant in common ownership structure. Very few investment properties offer this range of investment alternatives and creative uses.
This unique property also presents itself as a prime development opportunity, with the ability to scrape the existing structures and build new condominiums, or keep the current structures in place and process with the department of real estate to sell individually as a TIC tenant in common ownership structure. Very few investment properties offer this range of investment alternatives and creative uses.
Property Details
- Class
- C
- Year Built
- 1965
- Stories
- 2
- Lot Size (sq. ft)
- 4,356 SF
- Units
- 8
Highlights
- Rarely Available Coastal Location with Mission Bay Frontage
- First Time On The Market in Over 30 Years
- Ability for Short Term Rentals
- Development Opportunity Potential
- Ability to Sell Individually Through TIC (Tenant in Common Ownership Structure, DRE Approval Required)
- Perfect for Owner User
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