Description

It is a privilege to present for sale 4104-12 Ingraham Street, San Diego, CA 92109, a Four (4) unit multifamily property that is ideally located within the desirable Crown Point area of Pacific Beach, on the west side of Ingraham St, about six blocks from Sail Bay. Comprised of all two-bedroom/one-bathroom units (averaging ±755 SF), most with a private outdoor space (yard or patio), the Property features a common area laundry room, rear patio area(s), lushly landscaped front yards, and four (4) garages, each with a surface off-street parking space behind it (for eight total off-street spaces). Estimated to have been constructed in ±1947 on a ±6,053 SF lot, the building has two stories (yet with one single story unit), built of wood-frame construction upon an elevated foundation, with stucco exterior and pitched (hip) composition shingle roof(s). Select units have moderate upgrades, with hardwood flooring and wall heat in most. Units are separately metered for gas and electricity, and the Property benefits from lower cost city waste services. Significant capital improvements over the past several years include: new/replaced sewer lines from the building to the city (street) main line; concrete walkways at rear of the property; newer fencing at the backyard; and newer commercial washer/dryer. ways to maximize value at this property include: by modernizing the unit interiors to a very high level sufficient to capture the upper end of market rents relative to the immediate area; and/or building a new ADU (via new construction or garage conversion). Given its very good coastal location in the sought-after Pacific Beach sub-market, coupled with its central location within PB, plus its desirable unit mix (all two-bedroom units), good rents in-place yet with strong upside potential, and ample off-street parking (four garages and four surface off-street spaces - one behind each garage), this property is ripe for continued appreciation.