2127 2131 1/2 Felspar,San Diego, CA 92109
San Diego, CA 92109
Description
Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3. Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Rare North Pacific Beach Fourplex with Immediate Value-Add Opportunity! Address is 2127-2131 1/2 Felspar. Well-maintained and held as a long-term investment, this exceptional income property offers the ideal combination of strong in-place cash flow, low deferred maintenance, and significant upside potential. Featuring two separate duplexes with an attractive unit mix of two 2BR/1BA units, one 3BR/2BA unit, and one 1BR plus office, this property is perfectly positioned for both seasoned investors and 1031 exchange buyers. Zoned Rm-3 Two upcoming vacancies create an outstanding opportunity to renovate (if desired) and quickly capture market rents. One 2BR unit is vacant now, followed by the 3BR/2BA unit at the end of September, allowing a new owner to substantially increase income in the near term. Projected rental figures have been conservatively estimated, providing additional upside. The property has been consistently maintained over the course of ownership. An extensive list of repairs and upgrades is available, reflecting the pride of ownership and ongoing care invested in the property. Located in highly desirable North Pacific Beach, this quiet residential neighborhood consistently attracts quality tenants seeking a coastal lifestyle with everyday convenience. Just minutes from the beach, Mission Bay, shopping, restaurants, parks, and major employment centers, the property also enjoys close proximity to the local elementary school and easy freeway access. Investment opportunities with this combination of location, condition, unit mix, and near-term rental upside rarely become available in North Pacific Beach.
Details
| MLS # | 260018256SD |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1956 |
| Days On Site | 38 |
| Listing Provided By | Compass | Lenna Doyle |
Features
| Story(s) | 1 |
|---|---|
| Units | 4 |
| Building(s) | 2 |
| Zoning | RM-3 |
| Acreage | 0.14 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural Gas |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Exterior
| Roof | Composition |
|---|---|
| Fencing | Partial |
Area Information
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92109 |
| Area | 92109 Pacific Beach |
| Community Name | Pacific Beach |
| Listing VS Median (in Pacific Beach) | |
Price: $2,449,000 low | high Med: $0 On site: 38 low | high Med: | |
Market Activity 92109
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92109 |
| Area | 92109 Pacific Beach |
| Community Name | Pacific Beach |
| Listing VS Median (in Pacific Beach) | |
Price: $2,449,000 low | high Med: $0 On site: 38 low | high Med: | |
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