List Price: $4.5M

Listing Status: Active

Days on Market: 0

0 Bedrooms · 0 Bathrooms

Property Type: ResidentialIncome

Year Built: 2025

Lot Size: 7,009 sq ft

MLS Number: NDP2608921

About This Property

7.1% CAP | SELLER FINANCING AVAILABLE. Rare North Park income property located along the highly desirable Adams Avenue Corridor. Offered at $4,495,000 with approximately $319,000 NOI based on current underwriting. Fully renovated down to the studs in 2025, the property features 10 furnished hotel suites leased to a single operator plus a separately leased restaurant / hospitality component. Commercial space is leased at $15,000/month on a long-term NN lease through August 2035 with 3% annual rent increases and additional percentage-rent potential. Property offers a low-maintenance operating structure with many expenses paid by the respective tenants/operators. Prime walkable North Park location, approximately 5 on-site parking spaces and expansive indoor/outdoor commercial space. Ideal 1031 exchange opportunity. Seller financing available to qualified purchasers. Potential leaseback / owner-operator flexibility. Beer & wine license may be available separately in connection with the sale, subject to transferability and applicable approvals. Buyer to verify all information.

Listing provided by: Eric von Bluecher DRE #01926201 760-929-9700 evb@lee-associates.com, Lee & Associates

Source: CRMLS, MLS #: NDP2608921

Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.