PROPERTY DESCRIPTION

Behold 4956-64 Santa Cruz Ave. San Diego, CA 92107, an exceptionally well-located eight (8) unit multifamily property on a larger than typical lot for the area, ideally situated just 1 block from Santa Cruz Cove Beach, within the premium/coastal South Ocean Beach sub-market. Residents here also enjoy being within walking distance to the best area dining/retail/shops on/near Newport Ave. (4 blocks), as well as the iconic OB Pier (4 blocks). The unit mix consists of seven (7) one-bedroom/one-bathroom units, four of which are freestanding single story cottages (each with generous private outdoor areas), and one (1) three-bedroom/one-bathroom unit. There are four (4) functional garages, one storage room, and a laundry room on-site. The main property entry off of Santa Cruz Ave. has a short brick/stucco pony wall, beyond which are front lawns, tasteful perimeter landscaping, and a concrete walkway down the middle that leads to the units. Constructed on a 10,500+ SF lot, 4956-64 is improved by mostly single-story cottage-style buildings, and one two-story building towards the rear of the lot near the alley. All buildings are built of wood-frame construction on concrete on grade foundations, with flat roofs. The apartments are separately metered for gas and electricity, and the property is presently on city trash. Some windows have been replaced with dual-pane vinyl. Interiors are estimated to be clean yet dated, with basic appliance packages and wall heat, providing an opportunity for an investor to renovate the units to a higher-end product, similar to others nearby.