pleased to present 1451 8th Avenue, a 25-unit apartment community located in the highly desirable Cortez Hill neighborhood of Downtown San Diego. Originally constructed in 1914, the property consists of a unique mix of studio units, one-bedroom apartments, and a penthouse/commercial unit, offering investors a rare opportunity to acquire a… Read More character-rich asset in one of Downtown San Diego’s most established residential enclaves. The property also features a shared laundry facility and a substantial basement-level storage area, providing added convenience for tenants and potential operational upside for ownership. Additionally, the offering includes attractive assumable financing, with an existing $1.25 million loan at a 3.45% fixed interest rate through September 2030, presenting a compelling opportunity to secure below-market debt in today’s higher interest rate environment. Situated in Cortez Hill, the property benefits from one of the most walkable residential neighborhoods in Downtown San Diego, where residents enjoy convenient access to daily amenities, restaurants, retail, and entertainment. The location places tenants within walking distance of several of Downtown’s most vibrant districts including Little Italy, the Gaslamp Quarter, and East Village, all of which offer a wide array of dining, nightlife, shopping, and employment opportunities. Additionally, Balboa Park, one of the nation’s largest urban parks and home to numerous museums and the San Diego Zoo, is located just minutes away, providing exceptional outdoor and cultural amenities. Read Less
Courtesy of Conor Brennan, Broker, , Conor M Brennan.
Listing Snapshot
Days Online
18
Last Updated
Property Type
Com-Res Income
Beds
4
Full Baths
24
Square Ft.
11,400
MLS Number
260011471
Additional Details
Building
Built in 0, Building area total: 11400, 1 number of building, 4 stories, Living area: 11400, Living area units: Sqft, Building area units: Sqft, 25 total units
Expenses
Operating expense: $192,894
Income
Gross scheduled income: $434,040
Lot
Size units: Acres
Property
Property subtype: Com-Res Income, Property type: Residential Income
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