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$2,600,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250023805
Property Description
We are pleased to present 2621-27 Monroe Avenue which is situated in the highly regarded University Heights neighborhood of San Diego, CA. This 8-unit property includes one (1) one-bedroom/one-bath unit and seven (7) two-bedroom/two-bathroom units. Nestled west of Interstates 805 and bordered by Mission Valley to the north and Hillcrest to the west, University Heights is known for its vibrant culinary scene, lively bars, and unique thrift stores. This makes it a highly attractive area for renters. The property presents a rare opportunity for investors aiming to capitalize on the growth and demand in one of San Diego's prime rental markets. The central location and dynamic community of University Heights ensure strong demand for rental units, with strategic renovations and upgrades offering considerable potential to elevate the property's value and achieve market-standard rental rates. 2621-27 Monroe Avenue is a compelling investment opportunity in a thriving neighborhood. Its prime location and vibrant community make it attractive to both renters and investors. This property offers a promising chance to invest in a flourishing market, with substantial returns possible through strategic enhancements and management. This is a rare opportunity to acquire a value-add asset in a high barrier to entry market with a desirable unit mix, with 88% of the units being spacious 2-bedroom apartments. Boasting a walkscore of 94, it also has easy access to Tier-1 employment hubs of Mission Valley, and Downtown San Diego via Interstate-805 and Route 163.
Location
State CA
County San Diego
Area Normal Heights (92116)
Building
Story 2
Others
Space Rent $150,180
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Listed by Austin Huffman • Marcus & Millichap
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Chris & Courtney Cameron
Agent | Office DRE #02021421 | 01766250
Agent Office DRE #02021421 | 01766250