Priced for an immediate sale at $45k per unit below the 1980s+ Sale Comp Average over the last year! 3854 50th Street presents a compelling opportunity to acquire a low-maintenance 1980s construction asset in a historically high-demand yet affordable Central San Diego location. This workhorse investment combines strong in-place income… Read More with desirable infrastructure improvements and systems. The property benefits from major infrastructure improvements and durable 1980s-era construction features that materially reduce long-term ownership risk and expense. The building features ABS sewer lines and new copper water supply lines that have been rerouted from the slab to the buildings exterior a significant upgrade compared to older assets with aging cast iron plumbing. The electrical system consists of original 1980s Arrow Hart Murray panels, which are not flagged by insurance carriers. Improvements include a new roof (2020), dual-pane windows, parking lot repave, and new code-compliant catwalk railings. Seasoned investors recognize the substantial cost burden associated with replacing cast iron plumbing, in-slab water lines, and outdated electrical panels expenses that can average $25,000$35,000 per unit, excluding demolition and reconstruction costs. This asset avoids those major capital exposures, offering a more predictable and expense-controlled operating profile. The property produces a strong 6.10% cap rate and 9.95 GRM with the immediately available rent increases and a 6.86% proforma cap rate post full interior renovations. Unit interiors have received light updates ove Read Less
Courtesy of Commercial Asset Advisors, , Maxwell Brown.
Listing Snapshot
Days Online
89
Last Updated
Property Type
Res Income 2-4 Units
Beds
3
Lot Size
0.3 Acres
MLS Number
PTP2601533
Additional Details
Building
Built in 0, Building area total: 0, 1 number of building, 2 stories total, Living area: 0, Living area units: Sqft, Building area units: Sqft, 10 total units
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Based on information from the San Diego MLS /Association of REALTORS®
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Source: San Diego MLS
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