1061-1077 20Th St, San Diego, CA 92102
6 Unit Apartment Building | $1,600,000 ($266,667/Unit) | 2.47% Cap Rate | San Diego, CA 92102
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,600,000
- Property Type
-
Multifamily
- Square Feet
- 2,267 SF
Listing Contacts
Dylan Wright
Verified Profile
- Property Info
Property Overview
MD Real Estate is proud to present 1061-71 20th Street, a 1923 built 6-unit apartment community in the high demand submarket of Golden Hill. Located on "The Slope", the 20th Street Apartments lies on one of the most coveted pockets of the 92102 zip code. Residents enjoy close proximity to Downtown San Diego, shops and restaurants of Golden Hill, and convenient freeway access to everything San Diego has to offer.
The 20th Street Apartments consists of three 1 bed/1 bath units and three studio units situated on a 5,008 square foot parcel of land. Residents enjoy a lush tropical landscaped common area with tasteful unit interiors. The property also has two oversized single garages and on-site laundry with owned equipment.
Since being purchased in 2005, current ownership has taken good care of the subject property but an opportunity exists for a new owner to modernize the property and substantially increase rents. The two single garages also present the potential opportunity to take advantage of the City of San Diego's generous ADU program and create an additional 2 units.
The 20th Street Apartments consists of three 1 bed/1 bath units and three studio units situated on a 5,008 square foot parcel of land. Residents enjoy a lush tropical landscaped common area with tasteful unit interiors. The property also has two oversized single garages and on-site laundry with owned equipment.
Since being purchased in 2005, current ownership has taken good care of the subject property but an opportunity exists for a new owner to modernize the property and substantially increase rents. The two single garages also present the potential opportunity to take advantage of the City of San Diego's generous ADU program and create an additional 2 units.
Property Details
- Class
- C
- Year Built
- 1923
- Stories
- 2
- Lot Size (sq. ft)
- 4,792 SF
- Units
- 6
Highlights
- Six Units on "The Slope" in the High Demand Golden Hill Submarket
- Pro Forma Cap Rate of 7.63%
- Substantial Rental Upside on Existing Units with ADU Potential Via Garages
- Recent Exterior Capital Improvements-Newer Retaining Wall and New Roof on Front Building
- Three 1 Bed / 1 Bath Units and Three Studios
- Walking Distance to Downtown San Diego
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