MLS# 240003803 - 1704 Hornblend St, San Diego, CA 92109
Courtesy of Berkshire Hathaway HomeServices California Properties.
Property Type:
Com-res Income
Status:
Active
Neighborhood:
Ca
Days On Website:
67
Property Details for 1704 Hornblend St, San Diego, CA 92109
Description
Why buy new? A) 15-year new construction exemption from AB 1482's rent control provisions. B) Low maintenance. C) Built by a highly reputable builder who is based out of Pacific Beach and has built over 5,000 units. *** Located in the heart of Pacific Beach and walkable to countless neighborhood assets, this brand new construction mid-rise built in 2023 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. *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. ***Exceptional walkability to groceries, restaurants, cafes, gyms, yoga studios, and more. 1.5 miles to the ocean, 1.5 miles to Interstate 5, and a 15 minute drive to San Diego International Airport. *3.73% Cap Rate 18.3 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: $242,050
Floors
- Other/Remarks
Heating
- Central Forced Air Elec
Income
- Gross operating income: $764,607
Laundry
- Owned
Listing
- Source: SDMLS
- For Sale
- 62 days on market
- Listing date: 2024-02-21
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
$13,995,000 - 1704 Hornblend St, San Diego, CA 92109
Street View
Directions
1704 Hornblend St
San Diego, CA 92109
County: San Diego