2850-56 Broadway San Diego, CA 92102
- Apartment buildings
- 3,684 SF
- 0.16 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2850-56 Broadway
- Year built
- 1951
- Lot size
- 0.16 lot acres
- Property size
- 3,684 SF
- Property type
- Apartment buildings
Description
This exceptional 8-unit apartment building, located in San Diego's desirable Golden Hill neighborhood, presents a compelling investment opportunity. Built in 1951 and extensively remodeled in 2024, the property boasts a mix of studio, one-bedroom, and two-bedroom units, totaling approximately 3,684 rentable square feet. Six of the eight units feature recent upgrades, including vinyl plank flooring, quartz countertops, updated kitchens and bathrooms, and stainless steel appliances. Many units also include in-unit washer/dryers. The property sits on a 0.16-acre lot and offers a strong pro-forma NOI of $133,336, resulting in a 5.33% cap rate. Currently operating at 100% occupancy, the asking price is $2,500,000, or $312,500 per unit. Its prime location offers easy access to major employment centers like Downtown San Diego, Mission Valley, and the South Bay, along with convenient access to Highway 94. The Golden Hill neighborhood is known for its walkability, vibrant local dining scene, and proximity to Balboa Park, making it a highly sought-after area. This stabilized asset presents significant upside potential for rental income growth in one of San Diego's fastest-growing neighborhoods. The property's upgraded condition and desirable unit mix contribute to its strong investment profile. This is a rare opportunity to acquire a well-maintained multifamily property in a thriving San Diego location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.108
- Latitude
- 32.716
