Saratoga Avenue Apartments

//Saratoga Avenue Apartments

Saratoga Avenue Apartments

Address:
5018-5022 Saratoga Avenue

San Diego, CA 92107

Property Type:
Purchase Price:
Total Units:
Price Per Unit:
Rentable SF:
Price Per SF:
Market Cap Rate:
Market GRM:

Apartments
$2,085,000
6
$347,500
3,550
$587
3.95%
15.9

Property Description

ACRE is proud to present the “Saratoga Avenue Apartments”, a 6 unit apartment community situated in the heart of Ocean Beach just steps from the Pacific Ocean. The property is comprised of four 2 bedroom/ 1 bath units and two 1 bedroom/1bath units on a 6,913 square foot lot. There are seven on site parking spaces, (two of which are tandem spots) a bike storage area, and a large open common patio for tenant enjoyment. The property has been very well kept over the years; improvements include upgraded interiors, dual pane vinyl windows, a newer roof, updated landscaping, and an updated paint scheme. The subject property has been in the same family since 1977.

The subject property is ideal for the investor looking for a pride of ownership asset in one of San Diego’s most desirable rental markets. A realistic opportunity exists to increase existing rents for a more attractive return. Additionally, with continued upward pressure in rents one should expect solid returns for many years to come. An opportunity also exists to convert some or all of the units to vacation rentals to maximize income. The close proximity to the beach and Downtown Ocean Beach makes this an ideal opportunity for doing so.

Listed Properties


Contact Information

Dylan E. Wright
Vice President
Direct: 619.255.3233
dwright@acrecommercial.com



Christopher Sarver
Senior Director
Direct: 619.255.6572
csarver@acrecommercial.com

2018-11-03T00:10:05+00:00