Property Details

2241 4th Avenue

San Diego CA 92101

$14,200,000

Status: Active

Property Details

Description

We are pleased to present Casa Blanca (the “Property”), an attractive rental community located in Bankers Hill in San Diego, California. The offering presents real estate investors the opportunity to acquire a turn-key stabilized real estate asset that has been professionally managed and meticulously remodeled while still preserving the charm and historical features of that era - featuring claw foot bathtubs, original ice boxes for extra storage, and hardwood flooring in select units. The Property consists of 38 units, spread out across two parcels (533-195-01-00_ and 533-195-02-00 401-423 E Juniper Street) totaling 15,777 square feet. Originally constructed in the 1900s, the Property was extensively renovated in 2018 and is well-maintained by the current ownership. Casa Blanca units are comprised of ten (10) one-bedroom / one-bath units and twenty-eight (28) studios. The Property provides tenants with secure gate entry with code access, a common area BBQ, dog wash, cornhole game, bike racks, and modern laundry facilities - featuring smartphone pay. Unit 101 offers an in-unit washer and dryer. The design and aesthetics of the courtyard offer the tenants an enjoyable place to relax and mingle. The substantial renovation of the property consisted of both the exterior of the building and totaled a little under $2M. The exterior renovations include - branding signage, a new roof, paint, and fencing. The interiors were appointed with - cabinets, quartz countertops, and stainless steel appliances including - refrigerators, gas ranges, fixtures, and sinks

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