MLS# 240009305 - 1704 Hornblend St, San Diego, CA 92109
Courtesy of Berkshire Hathaway HomeServices California Properties.
Property Type:
Com-res Income
Status:
Pending
Neighborhood:
Ca
Days On Website:
19
Property Details for 1704 Hornblend St, San Diego, CA 92109
Description
In the heart of Pacific Beach and walkable to countless neighborhood assets, this fully leased brand new construction elevator mid-rise built in 2023 with exceptional parking is a rare find in a bustling coastal community. Mix includes 18x 2 bed/2baths, 2x 1 bed/1bath, and 1x commercial retail space. Building has secure entry, lobby/mail room, elevator, garage with 21 parking spaces including 2 EV chargers, bike storage, and refuse room. Apartments feature quartzite countertops, in-unit laundry, central heat & AC, vinyl flooring, balcony(s), and stainless steel appliances. Apartment utilities are metered separately and paid by tenants. Building is FULLY LEASED & move-ins are currently underway. New construction exemption from AB 1482 rent control applies. Low maintenance design and built by a highly reputable local builder who has built over 5,000 units! *Price reflects outright sale, but Seller is also willing to sell 49% interest and retain 51%. There is currently a $4.8m loan on the property at 4.5% interest.* **Cost segregation study recently completed, which will provide an additional $1.28M in depreciation for 2024. Building is solar-ready, which is estimated to provide $25k in revenue/year if installed along with additional tax credits. Documentation is available upon request.** 4.00% Cap Rate 17.37 Gross Rent Multiplier.
Open House
Features
Amenities
- Elevator
Appliances & Equipment
- 20 units with dishwasher
- 20 units with range
- 20 units with refrigerator
- 20 units with disposal
Bedrooms
- 1 bedroom
Building
- 2023 years old
- 3 stories
- 3 Story
- Apartment
- Other/Remarks
Cooling
- Central Forced Air Elec
Expenses
- Operating expense: $233,470
Floors
- Other/Remarks
Heating
- Central Forced Air Elec
Income
- Gross operating income: $764,607
Laundry
- Owned
Listing
- Source: SDMLS
- For Sale
- 12 days on market
- Listing date: 2024-04-30
Location
- County: San Diego
Lot
- Approximately 12,500 lot square feet
- Approximately 0 acres
- .25 Acres or less
Parking
- Spaces
- 21 total parking spaces
Roof
- Composition
Unit One
- 2 bathrooms
- 18 units of this type
- 2 bedrooms
Unit Two
- 1 bathroom
- 2 units of this type
- 1 bedroom
Unit Three
- 1 unit of this type
- 1 bedroom
Property Map
Map View
$13,280,000 - 1704 Hornblend St, San Diego, CA 92109
Street View
Directions
1704 Hornblend St
San Diego, CA 92109
County: San Diego