1704 Hornblend StreetSan Diego, California92109United States
$13,995,000
Commercial
1 of 13
Get directions
Why buy new? A) 15-year new construction exemption from AB 1482 s rent control provisions. B) Low maintenance. C) Built by a highly reputable builder who is based out of Pacific Beach and has built over 5,000 units. *** Located in the heart of...
$13,995,000
.287 Acres
Exterior
Commercial
Property type
240003803SD
Web Id
240003803SD
MLS ID
San Diego City Unified
School District
69
days ago
About 1704 Hornblend Street
Why buy new? A) 15-year new construction exemption from AB 1482 s rent control provisions. B) Low maintenance. C) Built by a highly reputable builder who is based out of Pacific Beach and has built over 5,000 units. *** Located in the heart of Pacific Beach and walkable to countless neighborhood assets, this brand new construction mid-rise built in 2023 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. *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. ***Exceptional walkability to groceries, restaurants, cafes, gyms, yoga studios, and more. 1.5 miles to the ocean, 1.5 miles to Interstate 5, and a 15 minute drive to San Diego International Airport. *3.73% Cap Rate 18.3 Gross Rent Multiplier.
Listing Courtesy of Berkshire Hathaway HomeServices California Properties
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
features
cooling
Propane Heating
PROPERTY INFORMATION
Heating
ForcedAir
EXTERIOR
Roofing
Composition
ADDITIONAL INFORMATION
Number of Units
21
Listing Courtesy of Berkshire Hathaway HomeServices California Properties