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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 10,950,000

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4802 Orchard Ave San Diego, CA 92107

0.34 Acres Lot

UPDATED:

10/25/2024 06:17 AM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 240025298SD

HOA Y/N No

Lot Size 0.337 Acres

Acres 0.3374

Property Description

We are pleased to present 4802 Orchard Avenue, a 16-unit completely remodeled apartment complex just over a block from the beach in the highly desirable Ocean Beach neighborhood of San Diego, California. Composed of a very rare mix of all 2-bedroom / 1-bath units on a large 14,699 square foot lot, this 1961-built complex was fully renovated from 2021- 2022. All units are approximately 775 square feet resting within two mirror image 2-story structures. The building has received highest-end upgrades including all new interiors featuring top tier kitchens, bathrooms, washer/dryers and exterior rehab. Major interior plumbing work has been done and major electric work including re-wiring, sixteen 60-amp sub-panels and 600-amp main service newly purchased and installed. A pool at the center of the property was replastered in 2015. A pool room includes a new 100-gallon water heater and outdoor shower area next to the pool. 11 Off street parking spaces (8 of which are covered) rest at the rear of the property adjacent to 11 non-monetized storage spaces for tenants. Units are individually metered for SDG&E and master metered for water and tenants reimburse owner $50/month each for water usage. Resting just over a block from the Ocean and a few blocks from Sunset Cliffs, Orchard Avenue enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters or future buyers. Only six multifamily properties above 5 units have 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 complex in an up-and-coming market, and minimal remaining work in return for significant upside.

Location

State CA

County San Diego

Area 92107 - Ocean Beach

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Carport Spaces 8

Roof Type Composition

Total Parking Spaces 11

Others

Tax ID 4482521200

Listed by Conor Brennan • Marcus & Millichap

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

4802 Orchard Ave San Diego, CA 92107

Key Details

Location

Interior

Exterior

Others

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4802 Orchard Ave