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4802 Orchard Ave

San Diego, CA 92107
  • $10,950,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: 240025298SD
UPDATED: 39 min ago
$10,950,000
  • 0
    BEDS
  • 0.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Listing Agent(s): Conor Brennan of Marcus & Millichap (818-212-2250)


Description

We are pleased to present 4802 Orchard Avenue, a 16-unit completely remodeled apartment complex just over a block from the beach in the highly desirable Ocean Beach neighborhood of San Diego, California. Composed of a very rare mix of all 2-bedroom / 1-bath units on a large 14,699 square foot lot, this 1961-built complex was fully renovated from 2021- 2022. All units are approximately 775 square feet resting within two mirror image 2-story structures. The building has received highest-end upgrades including all new interiors featuring top tier kitchens, bathrooms, washer/dryers and exterior rehab. Major interior plumbing work has been done and major electric work including re-wiring, sixteen 60-amp sub-panels and 600-amp main service newly purchased and installed. A pool at the center of the property was replastered in 2015. A pool room includes a new 100-gallon water heater and outdoor shower area next to the pool. 11 Off street parking spaces (8 of which are covered) rest at the rear of the property adjacent to 11 non-monetized storage spaces for tenants. Units are individually metered for SDG&E and master metered for water and tenants reimburse owner $50/month each for water usage. Resting just over a block from the Ocean and a few blocks from Sunset Cliffs, Orchard Avenue enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters or future buyers. Only six multifamily properties above 5 units have traded in the Ocean Beach sub-market in the last year, making this a rare, highly desirable investment. Ocean Beach offers an array of entertainment with shops, restaurants, beaches and attractions all within walking distance. Ocean Beach is one of the closest beach communities to Downtown San Diego that has recently begun a visible transformation with new complexes, residences and stores flourishing across the neighborhood. This property is an excellent investment for the investor seeking an extremely well-located complex in an up-and-coming market, and minimal remaining work in return for significant upside.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T13:34:31.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/157135453
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4802 Orchard Ave San Diego, CA 92107

  • Price: $10,950,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 39 min ago
  • ID#: 240025298SD
0
Beds
0
Baths
0
½ Baths
0.34
Acres
Neighborhood:
92107 - Ocean Beach
County:
San Diego
Area:
92107 - Ocean Beach
Property Description
We are pleased to present 4802 Orchard Avenue, a 16-unit completely remodeled apartment complex just over a block from the beach in the highly desirable Ocean Beach neighborhood of San Diego, California. Composed of a very rare mix of all 2-bedroom / 1-bath units on a large 14,699 square foot lot, this 1961-built complex was fully renovated from 2021- 2022. All units are approximately 775 square feet resting within two mirror image 2-story structures. The building has received highest-end upgrades including all new interiors featuring top tier kitchens, bathrooms, washer/dryers and exterior rehab. Major interior plumbing work has been done and major electric work including re-wiring, sixteen 60-amp sub-panels and 600-amp main service newly purchased and installed. A pool at the center of the property was replastered in 2015. A pool room includes a new 100-gallon water heater and outdoor shower area next to the pool. 11 Off street parking spaces (8 of which are covered) rest at the rear of the property adjacent to 11 non-monetized storage spaces for tenants. Units are individually metered for SDG&E and master metered for water and tenants reimburse owner $50/month each for water usage. Resting just over a block from the Ocean and a few blocks from Sunset Cliffs, Orchard Avenue enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters or future buyers. Only six multifamily properties above 5 units have traded in the Ocean Beach sub-market in the last year, making this a rare, highly desirable investment. Ocean Beach offers an array of entertainment with shops, restaurants, beaches and attractions all within walking distance. Ocean Beach is one of the closest beach communities to Downtown San Diego that has recently begun a visible transformation with new complexes, residences and stores flourishing across the neighborhood. This property is an excellent investment for the investor seeking an extremely well-located complex in an up-and-coming market, and minimal remaining work in return for significant upside.
Exterior Features

Carport Spaces 8 Carport YN Yes Construction Materials Stucco Parking Total 11 Roof Composition

Interior Features

Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Cap Rate 3.84 Gross Scheduled Income 667980 Listing Agreement Seller Reserved Net Operating Income 420249 Operating Expense 238124 Property Sub Type Mixed Use



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-11-13T13:34:31.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
10300 Fourth St. Ste 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Conor Brennan of Marcus & Millichap (818-212-2250)