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Listed by Maxwell Brown, DRE #02127395 • Commercial Asset Advisors
$ 5,300,000
Est. payment | /mo
0.31 Acres Lot
$ 5,300,000
Est. payment | /mo
0.31 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPTP2604512
Year Built 1956
Lot Size 0.310 Acres
Source California Regional MLS
Property Description
$250k Price Reduction !!! 7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and major infrastructure system improvements. The property is ideally situated near major transportation corridors, steps away from the amenity and retail filled University Ave, and provides seasoned investors with the "Golden Standard" Class B location asset known to provide the strongest aggregate return and operational profile. Current ownership has completed significant capital improvements, eliminating all deferred maintenance and substantially reducing future expenses. Improvements include renovation of 16 units, major electrical system replacement, brand new pitched roofs, epoxy-lined sewer mains, dual-pane windows, and numerous interior and exterior enhancements. The property consists of an ideal & diverse unit mix of (8) 2 Bed / 1 Bath, (8) 1 Bed / 1 Bath, and (4) Studio units. The property further provides an attractive 1:1 parking ratio and gated access. Ownership will benefit from meaningful economies of scale while maintaining the operational simplicity of a low-density garden style asset. The asset currently generates $463,138 GSI yielding a 5.37% in-place cap rate. There is approximately 12% income
Location
State CA
County San Diego
Area 91941 - La Mesa
Interior
Laundry Laundry Area
Exterior
Garage Spaces 20.0
Pool None
Others
Tax ID 4741700300
Special Listing Condition Not Applicable
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