806 Manhattan Ct, San Diego, CA, CA 92109
- $2,699,000
- List Price
- $2,699,000
- Status
- ACTIVE
- MLS#
- PTP2606902
- County
- San Diego
- Year Built
- 1980
- Building Square Feet
- 5,133
- Square Feet
- 5,133
- Days on Market
- 1
- Property Type
- Multifamily
- Stories
- Two Levels, Multi Level
- Virtual Tour 1
- https://tour.sdelevatemedia.com/order/f39df99f-c16b-43ba-99f8-08df04e8cca0?version=70_171&branding=true
Property Description
Exceptional value-add multifamily opportunity in the highly sought-after Mission Beach submarket. This 4-unit apartment property sits on an approximately 5,133 SF lot comprised of two APNs and offers a compelling investment profile with below-market rents, a vacant unit, and significant rental upside. The unit mix includes one 3-bedroom/2.5 bath unit, 2-bedroom/2-bath unit, and two 2-bedroom/1.5-bath units, providing strong tenant appeal in a supply-constrained coastal rental market. Current occupancy is 75%, with one vacant unit creating an immediate opportunity to establish market rent while preserving in-place cash flow from the occupied units. The property's location in Mission Beach benefits from exceptionally high barriers to entry, limited new multifamily development opportunities, and consistently strong demand for coastal housing. A standout feature is the extensive onsite parking, downstairs laundry facility, a storage room, including a 2-car garage, the other is a tandem 4-car with two additional spaces, giving this property 8 total parking spots! With one additional covered parking space, an increasingly scarce amenity in the coastal market. Positioned just 1 block from both the Pacific Ocean and the Mission Bay yacht club, the asset offers investors the opportunity to acquire a well-located coastal multifamily property with potential income growth and long-term appreciation in one of San Diego's most desirable beach communities. Property does present an opportunity for interior improvements and rental repositioning. Buyers to satisfy themselves regarding unit condition through seller-provided inspections and their own due diligence. Photos can be provided upon request. Don't miss this opportunity!
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Additional Information
- Parcel Number
- 4236170600
- Gross Scheduled Income
- $109,185
- Operating Expense
- 48884
- Net Operating Income
- $60,300
- Number of Buildings
- 4
- Lot Features
- Corner Lot, Near Park, Near Public Transit, Walkstreet
- Security Features
- Smoke Detector(s)
- Utilities
- Cable Available, Electricity Available, See Remarks
- Cooling
- Yes
- View
- Bay, Back Bay, Ocean, Peek-A-Boo
- Exterior Construction
- Stucco, Wood Siding
- Patio
- Balcony
- Roof
- Shingle
- Garage Spaces Total
- 2
- Carport Spaces
- 8
- Sewer
- Public Sewer
- Community Features
- Curbs, Street Lights, Sidewalks, Water Sports, Marina, Park
Listing courtesy of Listing Agent: Carlos Rodrigues Rodrigues (crodrigues@bhhscal.com) from Listing Office: Berkshire Hathaway HomeService.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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.