$3,395,000

Located just 1.5 blocks from the beach in Ocean Beach, within walking distance to parks (Robb Field) and nearby dining/shops along Newport Avenue (4 blocks), 5057-63 Brighton Avenue, San Diego, CA 92107 (“Property”) is a six (6) unit multifamily investment property, comprised of: one (1) studio; one (1) one-bedroom/one-bathroom; three (3) two-bedroom/one-bathroom units; and one (1) detached two-bedroom/one-bathroom house, most of which have private patio(s). There are four (4) garages at the alley, and one tandem off-street parking space next to the house. Built of wood-frame construction on elevated foundations upon a ±7,473 SF lot, both the front house and the five (5) unit apartment building have pitched composition roofs, stucco exterior, and mostly dual-pane vinyl windows. Some operating cost savings are derived from the property being on city waste services, with minimal yet tasteful landscaping, and units being separately metered for gas and electricity. The front house was remodeled several years ago, and several of the other units have been updated along the way, including vinyl plank flooring. Most units have private patio(s), and there is a strong opportunity to achieve upper market rents via a more complete modernization of the existing units. This rare beach-proximate 6-unit property has great flexibility in terms of ways to maximize value, such as a possible increase to rentable building area and/or density via added construction, and/or garage to ADU conversion(s). Its close proximity to the beach also makes this a prime property for partial or full short term (vacation) rental operations, for accelerated revenue growth.