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Listing 11 out of 2,713
Sold for $4,000,000 Sold

2308 Albatross St
San Diego, CA 92101

7 units | Multi Family 5+ - MLS# 180057813
Property Photo

Sold

Sold for $4,000,000 on Jul 12, 2019

Description

We are pleased to present the Seven Unit Luxury Apartments. The property is situated in Bankers Hill just minutes from Downtown, Little Italy, Hillcrest, Old Town, Beaches and major freeways. The Seven Unit Luxury Apartments is comprised of (6) 2Bedroom/2Bath units and a 3Bedroom/2.5bath Penthouse (approx. 3,300 SF). The 3rd Floor Penthouse (owners unit) features an open floor plan with a large kitchen, fireplace, walk-in closets, dual balconies, built in BBQ, its's own w&d, private fire access, built in bar, and panoramic views of the bay, Downtown, Point Loma and La Jolla. The 2Bedroom units feature identical views with private balconies and are approx. 1,100+ SF. The property has been meticulously well managed and is a pride of ownership that has been in the family for years. The property is a rare opportunity with little to no buildings comparable, or identical to the Seven Unit Luxury Apartments. The property has been under managed and has potential to increase rents immediately.

Features

  • Property Type: Multi Family 5+
  • Sub Type: Multi Family 5+
  • Listing Status: Sold
  • Listing Price: $5,000,000
  • County/Area: San Diego County
  • Zip Code: 92101
  • Units: 7 units
  • # of Baths (1): 2
  • # of Baths (2): 2
  • # of Baths (3): 2.5
  • # of Bedrooms (1): 2
  • # of Bedrooms (2): 2
  • # of Bedrooms (3): 3
  • # of Units (1): 5
  • # of Units (2): 1
  • # of Units (3): 1
  • Cap Rate Projected: 4.3
  • Gross Equity: 6000000
  • Listing Area: SAN DIEGO DOWNTOWN (92101)
  • Proj Gross Multiplier: 16.9
  • Proj. Gross Sched. Income: 359640
  • SqFt of Improvement: 10170
  • Unit Rent (1): 1880
  • Unit Rent Total (1): 9400
  • Sold Price: 4000000
  • Sold Date: 2019-07-12
Courtesy of South Coast Commercial, Inc.

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

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