930 Felspar StSan Diego, CA 92109

Property Details for 930 Felspar St

Year built

1960

Lot size

0.32 AC

Property size (Sq ft)

12,254 SF

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

415-602-10-00

APU

4156021000

Description

This exceptional 24-unit apartment building, located at 930 Felspar St, San Diego, CA 92109, presents a rare turnkey investment opportunity in the highly desirable Pacific Beach neighborhood. The property boasts a total of 12,000 square feet of net rentable space, with a desirable mix of eight studio and sixteen one-bedroom/one-bathroom units. Recently remodeled inside and out, each unit features luxury finishes including new cabinets, quartz countertops, vinyl plank flooring, stainless steel appliances, and updated lighting. Exterior improvements include upgraded landscaping and windows. The property sits on a 14,077 square foot lot and offers abundant off-street parking for residents. Community amenities include on-site laundry facilities and a swimming pool. With a walk score of 93, residents enjoy easy access to the Pacific Ocean, Garnet Avenue, Grand Avenue, and a wealth of shops and restaurants. The property's location provides convenient access to major employment centers via Interstates 5 and 8, and the San Diego Trolley. This is a significant asset in a prime location, offering a secure investment with strong potential for long-term appreciation. The asking price is $13,000,000, representing $541,667 per unit and $1,083.33 per square foot. The APN is 4156021000. This is an ideal opportunity for a long-term investor seeking a high-demand multifamily property in a premier San Diego location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,185,108

  6.5%

  $2,940,100

  7%

  $2,730,093

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,074,012

  Geo Method

  $6,685,212

• Alternative Use

  Use

  Valuation

  Residential

  $2,940,100

  Hospitality

  $2,693,116

  Educational

  $2,240,641

  Medical

  $2,317,700

  Retail

  $3,485,442

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7983

Longitude

-117.253

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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