1445 Front St San Diego, CA 92101
- Apartment buildings
- 7,200 SF
Current Use by Public Records
- The Pine Hotel / Hotel
Property Details for 1445 Front St
- Year built
- 1913
- Property size
- 7,200 SF
- Property type
- Apartment buildings
Description
This exceptional 25-unit apartment building, located at 1445 Front St in San Diego, CA 92101, presents a compelling value-add investment opportunity. The property, built in 1913, boasts 7,200 square feet across two stories and sits on a 5,001 square foot lot (APN 533-422-04-00). Currently operating as single-room occupancy (SRO) units, each of the 25 units features its own kitchen and bathroom. All units have undergone extensive interior renovations, complemented by exterior upgrades, creating significant upside potential for a new owner. The current NOI is $149,596, yielding a 4.60% cap rate, while the pro-forma NOI is projected at $296,096, resulting in a 9.11% pro-forma cap rate. The asking price is $3,250,000, translating to $130,000 per unit and $451.39 per square foot. This prime downtown San Diego location offers substantial redevelopment potential for a savvy investor, with the possibility of repurposing the property. The seller is motivated and open to offers. The property's central location and existing improvements make it an attractive investment, particularly given the potential for increased rental income through further upgrades or alternative uses. Note that the seller also owns a neighboring property at 1468 1st Ave.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.165
- Latitude
- 32.7205
