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Multifamily

1654-62 Cable Street

1654 Cable St, San Diego, CA 92107

Listing Price: $2,100,000

Cap Rate
2.04%
Number of Units
5
Price/Unit
$420,000
Price/Gross SF
$572.21
Gross SF
3,670

Investment Overview

Marcus & Millichap is pleased to present an extremely rare opportunity to acquire a 5-unit bungalow style complex just one block from the beach in one of the most gentrifying beach neighborhoods of southern California. Just a stone’s throw from Point Loma and popular Sunset Cliffs, this 1945-built Ocean Beach investment features four large two bedroom units (one of which was once the owners unit and also includes a den), and a single 1-bedroom / 1-bath unit. All units are efficiently designed with front and rear entry ways, back community areas and security gates. Interiors include original hardwood and carpet, tile in the kitchens and bathrooms and original finishes. At the north side of the property are four single car garages and locked room with washer and dryer for all units. Two large 100-gallon water heaters serve the property and there is easy access to plumbing via raised foundation. 1654 Cable Street enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters and buyers. Only eight multifamily properties 5 units and above traded in the Ocean Beach sub-market in the last year, making this a rare, highly desirable investment. Ocean Beach offers an array of entertainment with shops, restaurants, beaches and attractions all within walking distance. Ocean Beach is one of the closest beach communities to Downtown San Diego that has recently begun a visible transformation with new complexes, residences and stores flourishing across the neighborhood. This property is an excellent investment for the investor seeking an extremely well-located legacy property with significant rental upside in a high barriers-to-entry market.

Investment Highlights

  • One Block From The Beach In Highly Gentrifying Ocean Beach
  • Desirable Mix Of mainly 2-Bedroom Units With Garages
  • Bungalow Style Units With Great Curb Appeal

Exclusively Listed By

Listing Price: $2,100,000

Cap Rate
2.04%
Number of Units
5
Price/Unit
$420,000
Price/Gross SF
$572.21
Gross SF
3,670

Investment Highlights

  • One Block From The Beach In Highly Gentrifying Ocean Beach
  • Desirable Mix Of mainly 2-Bedroom Units With Garages
  • Bungalow Style Units With Great Curb Appeal

Investment Overview

Marcus & Millichap is pleased to present an extremely rare opportunity to acquire a 5-unit bungalow style complex just one block from the beach in one of the most gentrifying beach neighborhoods of southern California. Just a stone’s throw from Point Loma and popular Sunset Cliffs, this 1945-built Ocean Beach investment features four large two bedroom units (one of which was once the owners unit and also includes a den), and a single 1-bedroom / 1-bath unit. All units are efficiently designed with front and rear entry ways, back community areas and security gates. Interiors include original hardwood and carpet, tile in the kitchens and bathrooms and original finishes. At the north side of the property are four single car garages and locked room with washer and dryer for all units. Two large 100-gallon water heaters serve the property and there is easy access to plumbing via raised foundation. 1654 Cable Street enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters and buyers. Only eight multifamily properties 5 units and above traded in the Ocean Beach sub-market in the last year, making this a rare, highly desirable investment. Ocean Beach offers an array of entertainment with shops, restaurants, beaches and attractions all within walking distance. Ocean Beach is one of the closest beach communities to Downtown San Diego that has recently begun a visible transformation with new complexes, residences and stores flourishing across the neighborhood. This property is an excellent investment for the investor seeking an extremely well-located legacy property with significant rental upside in a high barriers-to-entry market.

Exclusively Listed By

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