5048 Wightman St.
San Diego, CA 92105

$3,640,000

Description

Marcus & Millichap is pleased to present for sale a tremendous opportunity to own Twenty Garden Style Apartment Units in one of San Diego's strongest and most stable rental markets. All of the units have been upgraded to some extent over the past 5 years but over the past year the current owner spared no expense in meticulously renovating three of the units with high-end finishes, paint, tile-flooring,cabinets,and appliances. The Property Exterior has been upgraded with New Paint, Roof and All Units have New Windows. The tenants enjoy onsite parking and laundry;and the new Wightman Street Neighborhood Park right next door. The property is located in a nationally recognized opportunity zone, which promotes more housing developments and rehabilitation in an already rapidly gentrifying City Heights neighborhood. This investment opportunity is ideal for a new owner to renovate the remaining units, raise rents, and achieve an attractive cash-on-cash return.

Details

MLS#190009294
StyleIndustrial
Sub-TypeResale
StatusActive
Days On Site44

Features

Story(s)0
Units20

Market Activity 92105

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Area Information

StateCA
CountySan Diego
CitySan Diego
Zip Code92105
Listing VS Median (in 92105)
Price:
$3,640,000
low | high
Med:
$449,950
100% of Average
On Site:
44
low | high
Med:
40
100% of Average
Listing Updated: 04/25/2019
MLS Number: 190009294
Listing Provided By:
Peter DeLuca  of  Marcus Millichap
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.