5082 Pt Loma Blvd San Diego, CA 92107-1313

This exceptional value-add opportunity presents a rare chance to acquire The Ebb Tide, a 23-unit multifamily property situated in the highly desirable Ocean Beach neighborhood of San Diego, California. The property, encompassing two buildings on two separate parcels totaling 15,054 square feet, consists of a mix of studio, one-bedroom, and two-bedroom units, currently operating at 80% occupancy. Built in 1952, the two-story complex offers 9,204 square feet of space and includes 27 parking spaces. The property features a compelling investment profile, boasting an 8.45% cap rate and a pro-forma cap rate of 5.06%. The asking price is $7,360,000, translating to $380,435 per unit. The property is held in fee simple and has a Class B designation. Historically operated as a motel offering weekly and long-term stays, this property presents significant potential for adaptive reuse, capitalizing on its irreplaceable Ocean Beach location and existing commercial hospitality license. The property's strong annual income potential, combined with its location and potential for upgrades, makes it an attractive investment for discerning buyers seeking a value-add opportunity in a thriving San Diego market. The property's APN is 488-141-03-00