1150 Reed Ave Immeuble residentiel 4 lots 1 839 230 € (459 808 €/Lot) San Diego, CA 92109

It is a privilege to present for sale 1150-56 Reed Avenue in Pacific Beach! A very well-located four (4) unit property presently, held by the same family as its original developer for 80+ years! Comprised of all (4) one-bedroom/one-bathroom units (+/-525 SF each), spread across two single story duplexes with pitched roofs and a beachy cottage vibe.
Each unit has its own yard or dedicated patio area, and there are four (4) surface off-street parking spaces at the alley.
Managed from afar for quite some time, it seems there is upside in operating performance either by way of: 1) a future redevelopment of 3-story structures that would max out rentable building area in this highly coveted location, allowing for much more income once complete and rented as a modern coastal product; 2) modernizing existing units to a degree sufficient to justify higher rents in-line with updated product in the immediate area; 3) via modernization of existing units and operating (some or all) as short term rental units after any turnovers may occur.
Tenants love being within walking distance to the beach (+/-4.5 blocks), Sail Bay (+/-3 blocks), plus dining/nightlife and recreation options abound.
Don't miss this opportunity to acquire an underdeveloped lot in such a prized coastal location, with ability to increase current revenue at the current units, while working towards a longer term plan geared towards maxing out density and building square footage eventually.
Please contact exclusive agent Joseph Burrough at 858 352 6742, ext. 101, for further details.