2959 54th St, San Diego, CA 92105
List Price: $3.33M
Listing Status: Pending
Original List Price: $3.52M
0Days on Market: 107
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Lot Size: 11,133 sq ft
MLS Number: 2600970SD
About This Property
This beautifully refreshed 12-unit property presents a rare opportunity to acquire a pride-of-ownership asset with substantial income upside. Current rents offer immediate improvement potential, with just an 8.8% adjustment, investors can realize a meaningful increase in NOI while positioning the property for natural turnover to market rents. The 3-bedroom and 2-bedroom unit mix stands out in a market saturated with smaller one-bedroom and studio units, providing superior tenant demand and rent growth potential. Recent comparables have traded at similar price-per-unit metrics despite offering inferior layouts and limited income capacity, highlighting the value advantage of this asset. The 3 fourplexes also sit on 3 separate APNs offering the next buyer possible alternative exit strategies. With its recent exterior painting, new parking lot, strong fundamentals, and attractive unit composition, this property is poised to become a top performer in any portfolio.
Listing provided by: Christina Labowicz DRE #02055851 619-299-3000 christina@aciapartments.com, ACI Apartments
Source: CRMLS, MLS #: 2600970SD
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.