Property Details
Property Name
SRO on 1st Avenue
Address
1468 1st Avenue, San Diego, CA 92101
Asking Price
$4,290,000
Units
34
Building Size
10,980 SF
Property Type
Multifamily
Cap Rate
—
Price Per Unit
$126,176
Status
Active
Broker
South Coast Commercial
Investment Opportunity
We are proud to present an extremely rare opportunity to own an investment property in one of the best locations in all of San Diego. Sitting in downtown San Diego, 1468 1st Ave is comprised of 34 SRO units and one office space. All units have been extensively remodeled, and 8 of the units come with their own bathroom. These interior renovations, combined with exterior upgrades, mean massive upside potential for a new owner. Each floor has its own kitchen, bathroom, and shower, and the property sits on a prime downtown lot that could be repurposed by a developer.
The owner of this building also owns 1445 Front St, which sits on the same block. The seller is looking to exchange out of both properties and retire — the buyer can make an offer on either or both.
Why This Property
Strong in-place income
High-demand urban corridor
Rental upside potential
Limited competing inventory
Suitable for 1031 exchange
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