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    2050 Garnet Ave San Diego, CA 92109

    Sponsored
    For Sale
    $10,395,000

    Luxury 8-unit multifamily, high occupancy.

    Property size:
    11,062 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A multifamily investment opportunity presents a rare chance to acquire a thriving 8-unit apartment building in the highly desirable Pacific Beach neighborhood of San Diego, California. Located at 2050 Garnet Ave, 92109, this property boasts a prime location on a major thoroughfare, offering unparalleled convenience and accessibility to the beach, Mission Bay, and vibrant shopping districts. The two-story building, constructed in 1995 and extensively renovated in 2023, comprises 11,062 square feet on a 15,603 square foot lot, zoned R-4. Each of the eight units features dedicated garage parking, in-unit washers and dryers, and ample storage, ensuring high tenant satisfaction and a 100% occupancy rate. The property's strong financial performance is reflected in its $10,395,000 asking price, a $939.70 price per square foot, a 2.71% cap rate, and a substantial net operating income (NOI) of $281,716. This Core+ investment presents a compelling opportunity for discerning investors seeking a stable, high-performing asset in one of San Diego's most sought-after coastal communities. The property's proximity to the beach, bay, and numerous recreational activities, coupled with its modern amenities and strong tenant base, ensures a consistent stream of income and significant long-term appreciation potential. This is a truly exceptional opportunity not to be missed.

    Property Features for 2050 Garnet Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    11,062 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1995/2023
    Buildings
    2
    Stories
    2
    Units
    8
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.23217788115
    Latitude
    32.8016799757

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    FAQs

    What type of property is this?
    Multifamily property - Luxury 8-unit multifamily, high occupancy.
    Where is this multifamily property located?
    The property is located at 2050 Garnet Ave San Diego, CA.
    What is the asking price?
    The asking price for this property is $10,395,000.
    Request Owner's contact information
    2050 Garnet Ave San Diego, CA 92109
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    San Diego, CA 92109
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2050 Garnet Ave San Diego, CA 92109
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