OFFERING SUMMARY
List Price:
$3,995,000
Number of Units:
9 + 1*
Price/Unit:
$399,500
Price/SF:
$764.59
Cap Rate:
3.97%
GRM:
16.42
NOI:
$158,420
Status:
Active
Investment Highlights:
Coveted North Park, San Diego, CA Location Just Blocks From Historic Balboa Park
Opportunity To Implement Mills Act Property Tax Savings; Potential For Designation
Property Has Strong History Of Vacation Rental Operations With Vacation Rental Quality
Refurbish Existing Units, Raise Rents, & Build 2 New Casitas By Right Or Fully Develop
Large 1-Bedroom & 2-Bedroom Units (approximately 500 SF – 850 SF)
Concrete Countertops, Stainless Steel Appliances, Refinished Dark Hardwood Flooring
Proven Vacation Rental Model For Nearly 20% Net Rent Growth Without Further Upgrades; 1 Active Airbnb
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