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Multifamily

2102-8 Drescher St

2102-8 Drescher St, San Diego, CA 92111

Listing Price: $2,800,000

Cap Rate
4.32%
Number of Units
4
GRM
15.56
Occupancy
100.0%
Price/Unit
$700,000
Price/Gross SF
$700.70
Gross SF
3,996

Investment Overview

Marcus & Millichap is pleased to present 2108 Drescher St, a 4-unit complex in the Linda Vista Neighborhood of San Diego, California. The asset features four (4) turnkey units as well as approved plans that will allow the next owner to build eleven (11) ADUs on the site.

The property currently boasts a unit-mix of four (4) three-bedroom / two-bathroom ?oorplans averaging 999 square feet. Units have undergone extensive luxury renovations with no expenses spared and with the upmost importance to quality. Interiors feature plenty of natural sunlight, are appointed with premium designer ?xtures and ?nishes, contain sleek quartz countertops and top-of-the-line stainless steel appliances, ample parking for each unit, two separated ?oors for the kitchen and bedrooms, and in unit washer and dryer.

The property also comes with tremendous upside with pre-approved plans that will allow the implementation of eleven (11) ADUs, further driving up the value of this property. The new ADU units will be comprised of ?ve (5) one-bedroom/one-bathroom and six (6) two-bedroom/one-bathroom units that total 5,810 rentable sq ft. Three (3) one-bedroom and one (1) two-bedroom units will be designated affordable.

The subject property is located in the hills of Linda Vista, a desirable location that is undergoing signi?cant gentri?cation as new developments are seen from most streets. The property provides direct access to University of San Diego, Mission Valley, University Town Center, and Downtown San Diego (a Tier-1 employment center). At the base of Linda Vista, the city of San Diego has developed the Morena Corridor Speci?c Plan, with the goal of improving traffic circulation, pedestrian and bicycle route upgrades, providing additional restaurant and commercial services with the extension of the trolley line. The property presents a rare opportunity for an investor to purchase a fully renovated asset with development potential in one of the most highly sought-after submarkets in San Diego County.

Investment Highlights

  • Luxury turnkey investment with future development upside
  • Property to be sold with approved ADU plans to add eleven (11) units
  • Currently comprised entirely of spacious three-bedroom townhome-style units
  • Excellent central San Diego location minutes from the bay, downtown, and University of San Diego
  • Easy access to Interstate 5 and 805, providing tenants access to all that San Diego has to offer

Exclusively Listed By

Financing By

Multifamily

2102-8 Drescher St

Listing Price: $2,800,000

Cap Rate
4.32%
Number of Units
4
GRM
15.56
Occupancy
100.0%
Price/Unit
$700,000
Price/Gross SF
$700.70
Gross SF
3,996

Investment Highlights

  • Luxury turnkey investment with future development upside
  • Property to be sold with approved ADU plans to add eleven (11) units
  • Currently comprised entirely of spacious three-bedroom townhome-style units
  • Excellent central San Diego location minutes from the bay, downtown, and University of San Diego
  • Easy access to Interstate 5 and 805, providing tenants access to all that San Diego has to offer

Investment Overview

Marcus & Millichap is pleased to present 2108 Drescher St, a 4-unit complex in the Linda Vista Neighborhood of San Diego, California. The asset features four (4) turnkey units as well as approved plans that will allow the next owner to build eleven (11) ADUs on the site. The property currently boasts a unit-mix of four (4) three-bedroom / two-bathroom ?oorplans averaging 999 square feet. Units have undergone extensive luxury renovations with no expenses spared and with the upmost importance to quality. Interiors feature plenty of natural sunlight, are appointed with premium designer ?xtures and ?nishes, contain sleek quartz countertops and top-of-the-line stainless steel appliances, ample parking for each unit, two separated ?oors for the kitchen and bedrooms, and in unit washer and dryer. The property also comes with tremendous upside with pre-approved plans that will allow the implementation of eleven (11) ADUs, further driving up the value of this property. The new ADU units will be comprised of ?ve (5) one-bedroom/one-bathroom and six (6) two-bedroom/one-bathroom units that total 5,810 rentable sq ft. Three (3) one-bedroom and one (1) two-bedroom units will be designated affordable. The subject property is located in the hills of Linda Vista, a desirable location that is undergoing signi?cant gentri?cation as new developments are seen from most streets. The property provides direct access to University of San Diego, Mission Valley, University Town Center, and Downtown San Diego (a Tier-1 employment center). At the base of Linda Vista, the city of San Diego has developed the Morena Corridor Speci?c Plan, with the goal of improving traffic circulation, pedestrian and bicycle route upgrades, providing additional restaurant and commercial services with the extension of the trolley line. The property presents a rare opportunity for an investor to purchase a fully renovated asset with development potential in one of the most highly sought-after submarkets in San Diego County.

Exclusively Listed By

Financing By

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