1747 Chalcedony St San Diego, CA 92109-3209

Property Details for 1747 Chalcedony St

Year built

1969

Lot size

0.29 lot acres

Property size

11,308 SF

Zone code

COMMERCIAL

Property type

Apartment buildings

APN

416-431-22-00

APU

4164312200

Description

This exceptional 16-unit apartment building, known as Chalcedony House East, presents a compelling investment opportunity in San Diego, CA. Located at 1747 Chalcedony St, San Diego, 92109, this property boasts 11,308 square feet of net rentable space, spread across a 12,492 square foot lot. Built in 1969, with renovations varying across units, the two-story building offers a mix of updated and remodeled units, reflecting current coastal living standards. The property features 16 parking spaces, a significant advantage in this area. Currently operating at 100% occupancy, the building generates a Net Operating Income (NOI) of $221,239, resulting in a 2.77% cap rate and a price per unit of $499,687.50. The asking price is $7,995,000, translating to $707.02 per square foot. Onsite laundry facilities and video surveillance enhance the property's appeal. Detailed financial records, including capital investments and maintenance costs, are available. The property benefits from a highly involved, long-term property management team and is situated in a desirable neighborhood transitioning from multifamily to single-family homes. This presents a unique opportunity for value-add potential and strong future income growth. The property's long ownership history and pride of ownership are evident. This is a rare offering, ideal for investors seeking a stable, high-performing asset in a prime San Diego location. The property is offered as a 1031 exchange opportunity.