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Multifamily

454 17th Street

454 17th St, San Diego, CA 92101

Listing Price: $1,350,000

Cap Rate
0.97%
Number of Units
1
Price/Unit
$1,350,000
Price/Gross SF
$1,102.94
Gross SF
1,224

Investment Overview

Marcus & Millichap is pleased to present a rare opportunity to own a fully reconstructed rental home in the bustling East Village neighborhood of Downtown, San Diego, California. The home went through major reconstruction in 2000 from a duplex to a fully restored 3-bedroom / 2-bath single home. A new buyer might primarily keep, continue renting out or live in the existing home. As a second option the assessors records still recognize two units today for anyone seeking to easily return the home to 2 separate units. For a third option, a new buyer might immediately develop or hold for future development with downtown’s changing legislation. With a 5,010 square foot lot, the property is zoned CCPD-R, rests within a Transit Priority Area (TPA) with no parking requirements, as well as an opportunity zone with a maximum FAR of 8. Tenants pay for all utilities. Interiors feature refurbished hardwood flooring, original built-ins, refurbished mouldings, brand new washer/dryer and stove, original hardwood cabinetry and tile countertops. The East Village neighborhood of Downtown, San Diego is the most gentrifying area of Downtown with more than 700 local business and close to 2,400 residential units currently under construction. Just 3 blocks to Freeways I-5 and Highway 163, tenants enjoy easy transportation and one of the last pockets of the neighborhood heavily built-out. In the heart of Downtown, the property is a short walk to numberous bars, restaurants and famous Petco Park stadium. Some of the key employers include: Solar Turbines, City of San Diego, General Dynamics and Bank of America. San Diego is aggressively promoting ”Auxilary Dwelling Units (ADU’s), which provides an opportunity for an investor to add units to the parcel. Demand for housing in Downtown San Diego is driven by a growing base of tech startups and professional and business service companies. East Village is currently undergoing a renaissance and becoming one of San Diego’s most fashionable neighborhoods.

Investment Highlights

  • Well Located Asset With Historic Charm In Desirable Pocket Of Sherman Heights
  • Rare Detached 3-Bedroom House Downtown With Additional Back Living Area
  • Complete Restoration in 2000 Of Roof, Foundation, Plumbing, Electric & HVAC
  • Opportunity To Purchase Complex With Residential Financing
  • Highly Walkable Location With Easy Freeway Access
  • Secure Gated Property With Yard, Patio And Tandem Parking

Exclusively Listed By

Financing By

Multifamily

454 17th Street

Listing Price: $1,350,000

Cap Rate
0.97%
Number of Units
1
Price/Unit
$1,350,000
Price/Gross SF
$1,102.94
Gross SF
1,224

Investment Highlights

  • Well Located Asset With Historic Charm In Desirable Pocket Of Sherman Heights
  • Rare Detached 3-Bedroom House Downtown With Additional Back Living Area
  • Complete Restoration in 2000 Of Roof, Foundation, Plumbing, Electric & HVAC
  • Opportunity To Purchase Complex With Residential Financing
  • Highly Walkable Location With Easy Freeway Access
  • Secure Gated Property With Yard, Patio And Tandem Parking

Investment Overview

Marcus & Millichap is pleased to present a rare opportunity to own a fully reconstructed rental home in the bustling East Village neighborhood of Downtown, San Diego, California. The home went through major reconstruction in 2000 from a duplex to a fully restored 3-bedroom / 2-bath single home. A new buyer might primarily keep, continue renting out or live in the existing home. As a second option the assessors records still recognize two units today for anyone seeking to easily return the home to 2 separate units. For a third option, a new buyer might immediately develop or hold for future development with downtown’s changing legislation. With a 5,010 square foot lot, the property is zoned CCPD-R, rests within a Transit Priority Area (TPA) with no parking requirements, as well as an opportunity zone with a maximum FAR of 8. Tenants pay for all utilities. Interiors feature refurbished hardwood flooring, original built-ins, refurbished mouldings, brand new washer/dryer and stove, original hardwood cabinetry and tile countertops. The East Village neighborhood of Downtown, San Diego is the most gentrifying area of Downtown with more than 700 local business and close to 2,400 residential units currently under construction. Just 3 blocks to Freeways I-5 and Highway 163, tenants enjoy easy transportation and one of the last pockets of the neighborhood heavily built-out. In the heart of Downtown, the property is a short walk to numberous bars, restaurants and famous Petco Park stadium. Some of the key employers include: Solar Turbines, City of San Diego, General Dynamics and Bank of America. San Diego is aggressively promoting ”Auxilary Dwelling Units (ADU’s), which provides an opportunity for an investor to add units to the parcel. Demand for housing in Downtown San Diego is driven by a growing base of tech startups and professional and business service companies. East Village is currently undergoing a renaissance and becoming one of San Diego’s most fashionable neighborhoods.

Exclusively Listed By

Financing By

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