For Sale
$5,950,000

3918 Gresham StSan Diego, CA 92109

8-Unit San Diego Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A, 8-unit apartment building presents a rare investment opportunity in San Diego's coveted Pacific Beach neighborhood. Situated on a substantial 8,119 square foot waterfront lot in Sail Bay (one of only 49 lots), this property boasts a prime location and significant upside potential. The building, constructed in 1957, comprises six spacious one-bedroom units and two bay-front two-bedroom units offering panoramic bay views. While many units retain their original, well-maintained condition, there's ample room for value-add renovations to further increase profitability. Current rents are slightly below market, providing immediate opportunity for increased cash flow. Recent upgrades include a new roof and plumbing system. The property's RM 2-5 zoning allows for long-term development possibilities, making it an ideal buy-and-hold investment with substantial future growth potential. The 5,412 square foot building offers a 3.00% cap rate and is listed at $5,950,000. This is a truly unique opportunity to acquire a legacy property in a highly desirable, limited-supply waterfront location. Don't miss this chance to secure a lucrative and stable investment in San Diego's thriving real estate market.

Property Details for 3918 Gresham St

Property type
Apartment buildings
Square Feet
5,412 SF
Class
A
Units
8

Location Insight

City
San Diego
County
San Diego
State
California
Latitude
32.7907567
Longitude
-117.2423962
3918 Gresham St, San Diego, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3918 Gresham St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message