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$ 3,050,000
$ 3,099,000 1.6%
Est. payment | /mo
9 Beds
5 Baths
$ 3,050,000
$ 3,099,000 1.6%
Est. payment | /mo
9 Beds
5 Baths
Key Details
Sold Price $3,050,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Pacific Beach
MLS Listing ID 250032628
Sold Date 08/19/25
Bedrooms 9
Full Baths 5
Year Built 1957
Property Sub-Type Res Income 2-4 Units
Property Description
5% DAY-ONE CAP RATE COASTAL 4-UNIT IN PACIFIC BEACH | $18,895/MONTH INCOME. IN PLACE LEASES 2073-79 Reed Ave is a premier investment opportunity located just steps from Mission Bay on a prime corner lot in one of San Diego's most sought-after coastal neighborhoods. This high-performing asset generates $18,895/month in current rents, offering investors a true 5% cap rate from day one—a rare find in a beachside location. The property features an ideal unit mix of (1) 3BR/2BA and (3) 2BR/1BA units, each tastefully renovated with modern finishes and strong tenant appeal. Significant capital improvements include a new roof, updated electrical systems, foundation upgrades, and full replacement of all visible cast iron plumbing. Four deep garages present the potential for ADU conversions or increased rental income. Situated in a quiet, upscale pocket of Pacific Beach, just a few blocks from the ocean, this offering is perfect for investors, owner-users, or Airbnb operators seeking long-term growth, income, and unbeatable location.
Location
State CA
County San Diego
Area Coastal South
Interior
Fireplace No
Exterior
Fence Full
View Y/N Yes
View Bay
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 424-261-12-00
Acceptable Financing Cal Vet, Cash, Conventional, Exchange, FHA
Listing Terms Cal Vet, Cash, Conventional, Exchange, FHA
Listed by Joey Belcastro Keller Williams Realty
Bought with Dylan C. Ackley Keller Williams Realty
Bought with Dylan C. Ackley Keller Williams Realty
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Krystal Lane
Partner | Lic# 1918284