5064-5066 Niagara Ave, San Diego, CA 92107

6 Unit Apartment Building | $3,950,000 ($658,333/Unit) | 2.92% Cap Rate | San Diego, CA 92107

Asking Price $3,950,000

Property Type: Multifamily
Square Feet: 4,073 SF

Listing Contacts

Dylan Wright

Verified Profile

Conor Brennan

Verified Profile

Property Info

Property Overview

MD Real Estate Inc and Marcus & Millichap are pleased to present 5064-5066 Niagara Avenue, a 6-unit multi-family property located a few steps from the Pacific Ocean in the highly coveted Ocean Beach neighborhood of San Diego, California. The subject property rests on the water in front of the iconic Ocean Beach Pier and is a half a block from popular Newport Avenue. 5064-66 Niagara Avenue is comprised of two 2-story buildings with 6 partially upgraded, very well-maintained units. Units are comprised of a large 1,320 square foot 3 Bedroom/2 Bath unit and five 1 Bedroom/1 Bath units ranging from 497-619 square feet. Units feature a mix of floating vinyl plank, tile, and hardwood flooring, original hardwood cabinetry (a select few with custom white cabinets), quartz and formica countertops, tiled showers, and high-quality vanities. There are three single car garages in the alley with ADU potential, one tandem parking spot, and two surface spots at the front of the property. The property has great bones and a sophisticated investor should bring all units to highest-end finishes and lease short or long term at market rate.

Property Details

Class: C
Year Built: 1960
Stories: 2
Lot Size (sq. ft): 3,920 SF
Units: 6

Highlights

Prime Oceanfront Location
Panoramic Ocean Views from Most Units
Extreme Upside in Rents Through High End Renovations
ADU Potential for One or Two Units Through Garage Conversions
Three Single Garages, One Tandem Parking Spot and Two Surface Spots (7 Total Parking Spaces)

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