Property Detail

2587 University Avenue

San Diego CA 92104

$3,000,000

Status: Active

Property Details

Description

Pleased to present for sale a "to the studs" renovated and stabilized mixed-use asset located on bustling University Avenue in the heart of North Park in San Diego, one of the trendiest neighborhoods in all of America according to Forbes. Originally constructed in the 1920’s, the property has undergone a gut remodel, inside and out, revitalizing a recognizable jewel on a prominent corner lot. No expense was spared; all of the units within the property were fully renovated in 2020 – all units feature vinyl plank flooring, quartz countertops, new Frigidaire appliances, minisplit AC units, new white shaker cabinets, all new custom dual-pane Milgard windows, tiled walk-in showers, stacked washer and dryers and much more. The exterior of the building has been completely revamped with new Santa Barbara smooth stucco, black Milgard Ultra custom fiberglass windows, solid wood custom doors and all new lighting fixtures and signage. Additionally, the property has had the electrical and plumbing systems completely redone. The ground floor of the property is currently fully leased to two long-term, fully operating and current tenants on triple-net leases; Black Radish Restaurant and VeraJean Cosmetics. The property is being sold free and clear of existing debt. ****Property is legally 3 residential units and 2 commercial. Top floor 3/2 units have been split into 2, 2/1 and 2 studio units.

Map Location

Listing provided courtesy of Erik Anderson of NorthMarq Multifamily. Last updated 2021-10-26 08:32:59.000000. Listing information © 2021 CRMLS.

John Collins

John Collins

DRE# 01948188
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