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$ 5,350,000
Est. payment | /mo
3 Beds
3 Baths
10,410 SqFt
$ 5,350,000
Est. payment | /mo
3 Beds
3 Baths
10,410 SqFt
Key Details
Property Type Single Family Home
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 10,410 sqft
Price per Sqft $513
MLS Listing ID 250035401
Bedrooms 3
Property Sub-Type Com-Res Income
Property Description
We are pleased to present the opportunity to acquire Las Palmas Apartments, an 18-unit multifamily community located in the high-demand Cherokee Point neighborhood of San Diego, California. Las Palmas is a three-story, elevator-served property comprised of a desirable unit mix, including eleven two bedroom/ one-bath units, six one-bedroom/one-bath units, and one studio. The property has recently undergone significant capital improvements, including new exterior paint, all-new black vinyl windows, and targeted roof repairs. Eleven of the eighteen units have been fully renovated, offering immediate in-place cash flow with the ability to unlock further upside through the renovation of the remaining units. Ideally located just minutes from Balboa Park, Downtown San Diego, and several major employment hubs, Las Palmas benefits from strong demand drivers in one of the most vibrant and supply-constrained rental submarkets in San Diego. With limited new multifamily development in Cherokee Point and the surrounding North Park corridor, the property represents a compelling investment opportunity with both stability and value-add potential through continued interior improvements and operational efficiencies.
Location
State CA
County San Diego
Community Elevator
Area Metro Uptown
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Others
Tax ID 447-452-27
Listed by Erik M Anderson Newmark of Southern California
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "