$3,325,000
4956-64 Santa Cruz Ave. San Diego, CA 92107
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$3,325,000
Est. payment /mo
10,500 Sqft Lot
Price Dropped by $375K
4956-64 Santa Cruz Ave. San Diego, CA 92107
UPDATED:
10/11/2024 12:44 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240022561
Lot Size 10,500 Sqft
Acres 0.24
Lot Dimensions 75 x 140
Property Description
Behold 4956-64 Santa Cruz Ave. San Diego, CA 92107, an exceptionally well-located eight (8) unit multifamily property on a larger than typical lot for the area, ideally situated just 1 block from Santa Cruz Cove Beach, within the premium/coastal South Ocean Beach sub-market. Residents here also enjoy being within walking distance to the best area dining/retail/shops on/near Newport Ave. (4 blocks), as well as the iconic OB Pier (4 blocks). The unit mix consists of seven (7) one-bedroom/one-bathroom units, four of which are freestanding single story cottages (each with generous private outdoor areas), and one (1) three-bedroom/one-bathroom unit. There are four (4) functional garages, one storage room, and a laundry room on-site. The main property entry off of Santa Cruz Ave. has a short brick/stucco pony wall, beyond which are front lawns, tasteful perimeter landscaping, and a concrete walkway down the middle that leads to the units. Constructed on a 10,500+ SF lot, 4956-64 is improved by mostly single-story cottage-style buildings, and one two-story building towards the rear of the lot near the alley. All buildings are built of wood-frame construction on concrete on grade foundations, with flat roofs. The apartments are separately metered for gas and electricity, and the property is presently on city trash. Some windows have been replaced with dual-pane vinyl. Interiors are estimated to be clean yet dated, with basic appliance packages and wall heat, providing an opportunity for an investor to renovate the units to a higher-end product, similar to others nearby.
Location
State CA
County San Diego
Area Ocean Beach (92107)
Zoning RM-2-4
Interior
Heating Wall
Cooling Other
Exterior
Exterior Feature Part Landscaped
Garage Garages
Roof Type Composition
Total Parking Spaces 4
Building
Story 2
Lot Size Range .25 Acres or less
Others
Acceptable Financing Cash, Cash to New Loan
Space Rent $184,212
Listing Terms Cash, Cash to New Loan
Listed by Joseph A Burrough • Palma Commercial
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