$3,995,000

  • COMMERCIAL-RES INCOME
  • ACTIVE
  • MLS# 180052994

Description

On the border of Hillcrest &Bankers Hill, Gallery Apartments features 15 Apartments in 2 separate buildings in exceptional, uptown urban San Diego. Walking Distance to Balboa Park and Blocks from University Avenue. A classic 1907 craftsman charmer, consists of 5 units; one 2 Bedroom & four 1 Bedroom units. In 1958 a two-story building was built to include 10 stacked studios, both buildings are situated on 10,500 SF lot. Plenty of common areas for tenants to enjoy coffee or BBQ, including a large coin laundry room and multiple very large storage areas. Owner has kept the charm of the craftsman incl original wood floors with inlays, gorgeous wood beamed ceilings, seated windows and built-ins for the era. Several Studios have recently been upgraded with new flooring, counters & mirrored closet doors. 400-930 SF (approx.) Current rents are below market and there is tremendous upside for increasing rents as-is and/or updating and maximizing incredible potential! **View Marketing Package & Links to Virtual Tours**

Property Details

Property type:
Commercial-Res Income
Age of Building:
1907
Number of Buildings:
2
Number of Stories:
2
Total Number of Parking Spaces:
2

Location

County:
San Diego

Directions

6th Ave, North of Balboa Park

Additional Details

Number of Units:
15
Number of Leased Apartments:
15
Number of Stories:
2
Total Monthly Rent:
$18,635
Price Per Unit:
$266,333
Down Payment:
$1,200,000
Lot Square Footage:
10,505
Assessors Parcel #:
452-430-12-00
Units with Disposals:
15
Units with Ranges:
15
Units with Refrigerator:
15
Heating Equipment:
Floor Furnace, Wall
Roof:
Composition
Laundry:
Owned
Parking:
Other/Remarks

Unit Details

Unit 1
Number of Units:
5
Number of Baths:
1
Rent:
$995
Unit Rental Total:
$4,975
Unit 2
Number of Units:
3
Number of Baths:
1
Rent:
$1,195
Unit Rental Total:
$3,585
Unit 3
Number of Units:
2
Number of Baths:
1
Rent:
$1,295
Unit Rental Total:
$2,590
Unit 4
Number of Units:
1
Number of Bedrooms:
1
Number of Baths:
2
Rent:
$1,650
Unit Rental Total:
$1,650
Unit 5
Number of Units:
1
Number of Bedrooms:
1
Number of Baths:
1.00
Rent:
$1,495
Unit Rental Total:
$1,495
Unit 6
Number of Units:
1
Number of Bedrooms:
1
Number of Baths:
1.00
Rent:
$1,395
Unit Rental Total:
$1,395
Unit 7
Number of Units:
1
Number of Bedrooms:
1
Number of Baths:
1.00
Rent:
$1,150
Unit Rental Total:
$1,150
Unit 8
Number of Units:
1
Number of Bedrooms:
2
Number of Baths:
1.00
Rent:
$1,795
Unit Rental Total:
$1,795

Dimensions

Lot:
117x90

Features

Amenities:
BBQ
Floor Coverings:
Hardwood, Other/Remarks
Construction Features:
Stucco
Laundry Utilities:
Owned

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Hillcrest

Bordering the 1,200-acre Balboa Park, Hillcrest has numerous biking and hiking trails with scenic views of canyons, gardens and flower-covered hillsides. The area is San Diego’s central hub for gender diversity and caters to its large and active lesbian, gay, bisexual and transgender (LGBT) community. The neighborhood is known for its locally-owned businesses, including restaurants, cafe... Read More

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Presented By
Lori
Sutherland

DRE# 01864326

619.241.1015

Email Me
Presented By
Lori
Sutherland

DRE# 01864326

619.241.1015

Email Me

Willis Allen Real EstateThis information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by Sandicor®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2018 Sandicor®, Inc.