$6,995,000

  • COMMERCIAL-RES INCOME
  • ACTIVE
  • MLS# 180028559

Description

4459 Fanuel Street is a master leased and fully renovated 17 unit property located in the heart of Pacific Beach in San Diego. This turnkey asset is comprised of 17 beautifully renovated studio apartments. The property has a well landscaped courtyard, 9 off street parking spaces, a single car garage, and on-site laundry. Previously operated as a vacation rental apartment complex, in April of 2017 the mental health company, Solara Health, signed a master net lease for the entire complex to provide a residence and on-site care facility to their clients. Solara Health has built out their office and treatment center on Garnet Avenue located just around the corner from the subject property. In addition to having their offices just a 40 yard walk from the subject property, Solara Health has been using large amounts of capital to improve the property. Currently, Solara health is on a 3 year lease that commenced April of 2017 with two (3) year options and rent increases of 3% every year.

Property Details

Property type:
Commercial-Res Income

Location

County:
San Diego

Additional Details

Number of Units:
17
Price Per Unit:
$411,470
SqFt of Improvement:
6,608
Assessors Parcel #:
423-083-09-00

Unit Details

Unit 1
Number of Units:
17
Number of Bedrooms:
1
Number of Baths:
1

Listing provided by

Marcus & Millichap
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Pacific Beach

Pacific Beach is a neighborhood in San Diego that was formerly mostly populated by young people and college students. However, with the rise in property values and rental costs, the population is slowly becoming older, more professional, and more affluent. There is a lively entertainment scene in each of its neighborhoods – with restaurants, bars and shops – all within wa... Read More

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Presented By
Clarissa
D. Nakaima

DRE# 01871697

619.948.5131

Email Me
Presented By
Clarissa
D. Nakaima

DRE# 01871697

619.948.5131

Email Me

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