Pending
1704 Hornblend St
San Diego CA, 92109
$13,280,000
Pending
Commercial
Listed by Steven Cairncross with Berkshire Hathaway HomeServices California Properties 858-945-1316
In the heart of Pacific Beach and walkable to countless neighborhood assets, this fully leased brand new construction elevator mid-rise built in 2023 with exceptional parking is a rare find in a bustling coastal community. Mix includes 18x 2 bed/2baths, 2x 1 bed/1bath, and 1x commercial retail space. Building has secure entry, lobby/mail room, elevator, garage with 21 parking spaces including 2 EV chargers, bike storage, and refuse room. Apartments feature quartzite countertops, in-unit laundry, central heat & AC, vinyl flooring, balcony(s), and stainless steel appliances. Apartment utilities are metered separately and paid by tenants. Building is FULLY LEASED & move-ins are currently underway. New construction exemption from AB 1482 rent control applies. Low maintenance design and built by a highly reputable local builder who has built over 5,000 units! *Price reflects outright sale, but Seller is also willing to sell 49% interest and retain 51%. There is currently a $4.8m loan on the property at 4.5% interest.* **Cost segregation study recently completed, which will provide an additional $1.28M in depreciation for 2024. Building is solar-ready, which is estimated to provide $25k in revenue/year if installed along with additional tax credits. Documentation is available upon request.** 4.00% Cap Rate | 17.37 Gross Rent Multiplier.
240009305SD
MLSⓇ ID
April 30, 2024
Listed
May 13, 2024
Updated
Map
1704 Hornblend St
San Diego CA, 92109
Interior Features
Fireplace
No
Cooling
Yes
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.29 Acres
Roof
Composition
Other Property Details
Area Name
92109 - Pacific Beach
Days on Market
12
Garage
No
Parking Total
21
View
No
County
San Diego
Pool
No
Listing History
Date | Event | Price |
---|---|---|
5/13/2024 | Pending | — |
Listing Contact: 858-945-1316
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/13/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 5/13/2024 at 8:08 PM UTC