1614 Reed Ave., San Diego CA, 92109

Sold

1614 Reed Ave.

San Diego CA, 92109

$3,525,000

Sold

Commercial

Listed by Terry Moore with Apartment Consultants, Inc. 619-299-3000

JUST REDUCED!!!! This is the BEST Pacific Beach value add opportunity that I have seen in my thirty plus year career! The property is located on a low traffic street within a mile of the coast and less than three quarters of mile from Mission Bay and is within minutes of I-5 and I-8. Four one bedroom and four two bedroom units which is a better unit mix than 70% of buildings between 5-20 units. Rents are currently well below market. Property manager reports that all leases are month to month. Owner of a twin renovated building three blocks away states his rents are $3,000 for one bed and $4,200 for two bed units. Making renovations can make the rents yield an NOI better than $200k annually. Most of the units have vinyl flooring, upgraded kitchens and baths, attractive new tile showers, stainless steel appliances, tasteful interior decor, and ceiling fans. Rents shown reflect a 10% increase effective 5/1/23. For a qualified rehabber a 60% loan to value may be possible. Please include a completed "AS-IS addendum" from documents section with all offers.

220024084SD

MLSⓇ ID

September 20, 2022

Listed

March 23, 2024

Updated

Map

1614 Reed Ave.
San Diego CA, 92109

Interior Features

Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.14 Acres

Other Property Details

Area Name: 92109 - Pacific Beach
Days on Market: 120
Garage: No
Parking Total: 5
View: No
County: San Diego
Pool: No
Buyer Agency Compensation: 2%

Listing History

Date	Event	Price
5/18/2023	Sold	$3,525,000
4/19/2023	Price Change	$3,525,000 -2%
4/19/2023	Unknown	—

Listing Contact: 619-299-3000

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/23/2024 at 1:18 AM UTC