Listed by Benn Vogelsang, South Coast Commercial, Inc.,

5101 Towle Court

San Diego, CA, 92105

$8,500,000

$8,500,000
Active
Active
 - For Sale
property_type
Commercial
The Royal Apartments feature 48 approximately 365 sq ft studio apartments built between 1963 and 1965 situated on two parcels totaling approximately 45,537 sq ft. The property features 44 parking spaces, a pool, laundry facilities, and consists of two buildings with pitched roofs. One of the units is used as an onsite office, there was a recent large landscaping project completed, many of the tenants are long term, and all tenants are month to month. There is more than 64% upside in the current rents. The units feature a mix of faux wood, vinyl plank, and carpeted flooring and some bathrooms have been remodeled. Large cabinets separate the living and sleeping areas in the units. Routine maintenance has been performed during long term ownership but there is a great opportunity for value add for a new owner. There is assumable financing at 2.84% fixed for 3 more years or buyer to purchase free and clear by paying seller's prepayment penalty.
MLS® ID:
220015041SD
Listed:
5/29/22
Updated:
8/8/22

Exterior/Building Features

Lot Size
1.05 acres lot

Other Property Details

Area Name
92105 - East San Diego
Garage
No
Parking
N
Parking Total
44.0
View
N
County
San Diego
Pool
No

Property History

Date
Event
Price
Value
7/12/22
Price Change
$8,500,000
-6%

 

Listed by Benn Vogelsang, South Coast Commercial, Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/8/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

©2022 California Regional Multiple Listing Service. All rights reserved.

Data last updated 4:26 PM UTC, 8/8/22

Contact