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$5,550,000
Est. payment /mo
4 Beds
24 Baths
11,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 11,400 sqft
Price per Sqft $486
MLS Listing ID 260011471
Bedrooms 4
Full Baths 24
Property Sub-Type Com-Res Income
Property Type Com-Res Income
Property Description
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 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.
Location
State CA
County San Diego
Area Metro Central
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 4
Others
Senior Community No
Tax ID 534-024-03-00
Special Listing Condition Call Agent
Virtual Tour https://www.propertypanorama.com/instaview/snd/260011471
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Listed by Conor M Brennan, DRE#01918598 Conor Brennan, Broker
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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