2037, 2041, & 2045 Garnet Avenue

$4,935,000

Cap Rate 4.8

Remarks:

Discover an unparalleled investment opportunity in the heart of Pacific Beach. This rare offering includes 12 units available for only $4.935M, equating to an exceptional value of approximately $412K per door. Each 4 unit building has it's own parcel number allowing for 2-4 unit residential financing with only $979K down! The property boasts a diverse and desirable unit mix, featuring (6) 2-bedroom/1-bathroom units, (3) 1-bedroom/1-bathroom units, and (3) studio units. Perfectly positioned, residents have the luxury of being just steps away from an array of restaurants, cafes, and key amenities including Trader Joe's, not to mention easy access to the bay and quick connections to major freeways. The property itself exudes great curb appeal and is currently generating an annual gross income of $316,140 with net of $233,795. Operating at a 4.8% cap rate, this investment promises both immediate returns and significant potential for future appreciation.

This is for 2037:

$1,645,000

Remarks:

This unique 4 unit property encompasses a great mix of (2) 2-bedroom/1-bathroom units, (1) 1-bedroom/1-bathroom unit, and (1) studio unit. Its prime location ensures high desirability, being just a short walk away from restaurants, coffee shops, Trader Joe's, and the bay. Quick freeway access, also enhances its appeal to potential renters. Gross income of $113,628 and a net operating income (NOI) of $83,774. Currently operating at a strong 5.1% cap rate. For those looking to expand their portfolio even further, the 2 adjacent buildings are also available - 2041 & 2045 Garnet.

This is for 2041:

$1,645,000

Remarks:

This unique 4 unit property encompasses a great mix of (2) 2-bedroom/1-bathroom units, (1) 1-bedroom/1-bathroom unit, and (1) studio unit. Its prime location ensures high desirability, being just a short walk away from restaurants, coffee shops, Trader Joe's, and the bay. Quick freeway access, also enhances its appeal to potential renters. Gross income of $107,124 and a net operating income (NOI) of $77,342. Currently operating at a strong 4.7% cap rate. For those looking to expand their portfolio even further, the 2 adjacent buildings are also available - 2037 & 2045 Garnet.

This is for 2045:

$1,645,000

Remarks:

This unique 4 unit property encompasses a great mix of (2) 2-bedroom/1-bathroom units, (1) 1-bedroom/1-bathroom unit, and (1) studio unit. Its prime location ensures high desirability, being just a short walk away from restaurants, coffee shops, Trader Joe's, and the bay. Quick freeway access, also enhances its appeal to potential renters. Gross income of $95,388 and a net operating income (NOI) of $72,672. Currently operating at a strong 4.4% cap rate. For those looking to expand their portfolio even further, the 2 adjacent buildings are also available - 2037 & 2041 Garnet.