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Multifamily

1028-30 Lincoln Ave

1028-30 Lincoln Ave, San Diego, CA 92103

Listing Price: $1,225,000

Cap Rate
5.21%
Number of Units
2
Occupancy
97.0%
Price/Unit
$612,500
Price/Gross SF
$617.13
Gross SF
1,985

Investment Overview

Marcus & Millichap is pleased to present for sale this amazing 2 on 1 Garden Style Multi-Unit Property Located on a Cul-de-Sac Street in the Western Portion of University Heights. The property is located in a quiet residential neighborhood and is within walking distance to Hillcrest/Uptown by way of the Iconic Vermont Street Pedestrian Bridge. This is a great opportunity for a new investor to modernize both the Interiors & Exteriors to achieve market rents. The upstairs unit is currently Seller Occupied and can be delivered Vacant at the Close of Escrow. In addition, the downstairs unit is also vacant, which will allow a new investor the opportunity to begin interior renovations immediately. Included is a Two Bedroom/1Bath Upstairs Unit that is estimated to be around 1,000 Square Feet as well as a Downstairs Three Bedroom/1Bath 985 Square Feet. The way that the downstairs unit is configured and its location in the structure might allow the new owner to create a separate studio unit out of the 3rd Bedroom. There is a smaller two-car garage with a large storage area below the garage. With all the proactive zoning changes going on in San Diego it is possible that both the garage and the storage unit could be made into 2 extra dwelling units. Less than a block from the Vermont Street pedestrian bridge in the vibrant neighborhood of University Heights bordering Hillcrest, this property is within walking distance to bars, restaurants, shops, and attractions. It offers convenient access to the 163 freeway and Interstate 8, 15, and 5. University Heights is one of San Diego’s most sought-after housing markets and this asset is well positioned with the investor’s longevity in mind.

Investment Highlights

  • Amazing University Heights/Hillcrest Adjacent Location
  • Quiet Residential Cul-de-Sac Street
  • Perfect Value Ad Investment Opportunity
  • Walking Distance Across the Well-Known Vermont Street Bridge to Hillcrest/Uptown
  • Owner/Occupier Opportunity
  • Two Car Garage above a Storage area with Potential to convert to 2 Additional Dwelling Units

Exclusively Listed By

Financing By

Multifamily

1028-30 Lincoln Ave

Listing Price: $1,225,000

Cap Rate
5.21%
Number of Units
2
Occupancy
97.0%
Price/Unit
$612,500
Price/Gross SF
$617.13
Gross SF
1,985

Investment Highlights

  • Amazing University Heights/Hillcrest Adjacent Location
  • Quiet Residential Cul-de-Sac Street
  • Perfect Value Ad Investment Opportunity
  • Walking Distance Across the Well-Known Vermont Street Bridge to Hillcrest/Uptown
  • Owner/Occupier Opportunity
  • Two Car Garage above a Storage area with Potential to convert to 2 Additional Dwelling Units

Investment Overview

Marcus & Millichap is pleased to present for sale this amazing 2 on 1 Garden Style Multi-Unit Property Located on a Cul-de-Sac Street in the Western Portion of University Heights. The property is located in a quiet residential neighborhood and is within walking distance to Hillcrest/Uptown by way of the Iconic Vermont Street Pedestrian Bridge. This is a great opportunity for a new investor to modernize both the Interiors & Exteriors to achieve market rents. The upstairs unit is currently Seller Occupied and can be delivered Vacant at the Close of Escrow. In addition, the downstairs unit is also vacant, which will allow a new investor the opportunity to begin interior renovations immediately. Included is a Two Bedroom/1Bath Upstairs Unit that is estimated to be around 1,000 Square Feet as well as a Downstairs Three Bedroom/1Bath 985 Square Feet. The way that the downstairs unit is configured and its location in the structure might allow the new owner to create a separate studio unit out of the 3rd Bedroom. There is a smaller two-car garage with a large storage area below the garage. With all the proactive zoning changes going on in San Diego it is possible that both the garage and the storage unit could be made into 2 extra dwelling units. Less than a block from the Vermont Street pedestrian bridge in the vibrant neighborhood of University Heights bordering Hillcrest, this property is within walking distance to bars, restaurants, shops, and attractions. It offers convenient access to the 163 freeway and Interstate 8, 15, and 5. University Heights is one of San Diego’s most sought-after housing markets and this asset is well positioned with the investor’s longevity in mind.

Exclusively Listed By

Financing By

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