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Additional details
$ 4,495,000
Est. payment /mo
New
2611 Adams Avenue North Park (san Diego), CA 92116
7,009 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2608921
Lot Size 7,009 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
7.1% CAP | SELLER FINANCING AVAILABLE. Rare North Park income property located along the highly desirable Adams Avenue Corridor. Offered at $4,495,000 with approximately $319,000 NOI based on current underwriting. Fully renovated down to the studs in 2025, the property features 10 furnished hotel suites leased to a single operator plus a separately leased restaurant / hospitality component. Commercial space is leased at $15,000/month on a long-term NN lease through August 2035 with 3% annual rent increases and additional percentage-rent potential. Property offers a low-maintenance operating structure with many expenses paid by the respective tenants/operators. Prime walkable North Park location, approximately 5 on-site parking spaces and expansive indoor/outdoor commercial space. Ideal 1031 exchange opportunity. Seller financing available to qualified purchasers. Potential leaseback / owner-operator flexibility. Beer & wine license may be available separately in connection with the sale, subject to transferability and applicable approvals. Buyer to verify all information.
Location
State CA
County San Diego
Zoning Assessor
Direction Contact Broker for Instructions
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 4450820100
Listed by Eric von Bluecher, DRE#01926201 Lee & Associates
NEARBY SCHOOL & BUSINESS
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