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Multifamily

La Mar Apartments

302 Thorn St, San Diego, CA 92103

Listing Price: $5,995,000

Cap Rate
1.87%
Number of Units
18
Price/Unit
$333,056

Investment Overview

Marcus & Millichap is pleased to present the Lar Mar Apartments located in San Diego, California. The 18-unit apartment complex is located in the eclectic Bankers Hill neighborhood and boasts a Walk Score of 90. Built in 1911, the property rests on a large 10,069 square foot corner lot and has approximately 12,860 in rentable square feet. The unit mix consists of: (3) two bedroom / one bathroom units, (9) one bedroom / one bathroom units, and (6) studios. Attractive tenant offerings include: built-in storage in-unit, high ceilings, bike storage on the property, as well as on-site laundry. The property is also located in a "Complete Communities" zone, prompting continual development and growth within the area. With remaining potential for renovation, an astute investor can add further value in order to maximize overall cash flow. Located only two blocks away from Fifth Avenue and with proximity to Balboa Park and Downtown, the property is within walking distance to all the best Bankers Hill has to offer. 302 Thorn Street ultimately presents investors the unique opportunity to acquire a value-add asset in one of San Diego's most desirable neighborhoods.

Investment Highlights

  • Walking Distance to Downtown & Balboa Park
  • First Time on Market in 50+ Years
  • Value-Add - Below Market Rents
  • Large Corner Lot - 10,069 Square Feet
  • Dual Pane Windows, High Ceilings, Storage, On-Site Laundry

Exclusively Listed By

Listing Price: $5,995,000

Cap Rate
1.87%
Number of Units
18
Price/Unit
$333,056

Investment Highlights

  • Walking Distance to Downtown & Balboa Park
  • First Time on Market in 50+ Years
  • Value-Add - Below Market Rents
  • Large Corner Lot - 10,069 Square Feet
  • Dual Pane Windows, High Ceilings, Storage, On-Site Laundry

Investment Overview

Marcus & Millichap is pleased to present the Lar Mar Apartments located in San Diego, California. The 18-unit apartment complex is located in the eclectic Bankers Hill neighborhood and boasts a Walk Score of 90. Built in 1911, the property rests on a large 10,069 square foot corner lot and has approximately 12,860 in rentable square feet. The unit mix consists of: (3) two bedroom / one bathroom units, (9) one bedroom / one bathroom units, and (6) studios. Attractive tenant offerings include: built-in storage in-unit, high ceilings, bike storage on the property, as well as on-site laundry. The property is also located in a "Complete Communities" zone, prompting continual development and growth within the area. With remaining potential for renovation, an astute investor can add further value in order to maximize overall cash flow. Located only two blocks away from Fifth Avenue and with proximity to Balboa Park and Downtown, the property is within walking distance to all the best Bankers Hill has to offer. 302 Thorn Street ultimately presents investors the unique opportunity to acquire a value-add asset in one of San Diego's most desirable neighborhoods.

Exclusively Listed By

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