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Property profile & analytics
OFF-MARKET Estimated value $8,900,000
Hotels

190 Calle Primera San Diego, CA 92173-2727

19,440 SF 1.21 ac lot Built 1975
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-7324484
Property summary
AI-generated overview

This 19,440 square foot motel in San Diego, CA, presents a unique adaptive reuse opportunity. Situated on a 1.21-acre corner lot (APN 666-170-40) at 190 Calle Primera, 92173, this property offers significant potential. The existing structure comprises four two-story buildings, built in 1975 and renovated in 2004. Currently vacant, the property features 70 keys and ample surface parking. Zoned CC-2-1, it's ideally located with easy access to I-5 and I-805. Prior plans envisioned converting the motel into a 70-unit (70 studio units and one manager's unit) affordable supportive housing project, potentially leveraging remaining funds from a previously awarded $24 million state grant. This grant, intended for housing and caregiving support for at-risk older adults, may be accessible to a qualified buyer for capital improvements and operational funding. Pre-qualification by a state agency is required. The property's previous intended net rentable area was approximately 18,000 square feet. Bid deadline is November 20th at 5:00 PM PT.

Property profile
Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1975
Total area 19,440 SF
Lot 1.21 ac (52,707 SF)
Zoning code COMMERCIAL
APN 666-170-40-00
UPID US09-7324484
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • HOTEL PRIMERA Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$8.90M
CAP Approach CAP
by Request
Comparable Approach Comparable
$9.80M
Blend (final) Blend
$8.90M
Owner & transaction history
Pbrei LLC · 2 yrs held
Pbrei LLC
since 2024
Last sale
$8.9M
7 recorded transactions
2024
$5.5M
2023
$8.9M
2020
$990,000
2020
Price N/A
2018
$6.8M
2008
Price N/A
2004
$5.1M
Zoning & alternative use
COMMERCIAL · San Diego, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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