1130 11Th Ave San Diego, CA 92101

• August, 2023

• Aug 17, 2023

  Date

  Expired

  CRMLS: PTP2302670

  $6,700,000

  Price

• Jun 6, 2023

  Date

  Active

  CRMLS: PTP2302670

  $6,975,000

  Price

• Listing provided courtesy of CRMLS

  *SELLER FINANCING AVAILABLE - 2-YRS I/O w/ $2.5M DOWN (rate negotiable)*. Marketing package attached. Pleased to present the “Sage House Apartments", a rarely available 25-unit apartment with development potential, located within 1 block of the City College Trolley Station in Downtown San Diego. Comprised of 2 structures originally constructed in 1920/'41. 1130 contains a total of 12 studios. 1134 has 13-units including (3) 1bed+1bath & (10) studios. Combined estimated total of 9,100 rentable SF. Buyer to do its own due diligence and verify all measurements. Est. 7,556 sqft lot zoned CCPD-RE with Complete Communities (Tier 1 - no FAR limit), Transit Priority Area, and Transit Area Overlay zones. There are commercially-zoned parking lots on either side of the property. Combined, all 3 parcels make up an entire City block with substantial development potential. The overlay zones allow for increased flexibility and extreme density bonuses with relaxed parking requirements for mixed-used and affordable housing developments. In 2019, the City established the Transit Area Overlay Zone, under which the subject property falls, being a mere 1-block Northwest of the nearest Trolley station. Said Overlay Zone dramatically reduces minimum parking requirements. Needless to say, these factors make for many flexible and exciting development possibilities. Note however that the 2 adjacent parking lots are owned by a separate owner not related to the sale of 1130-34. It is also important to note that there is a historical designation on 1134 that may hinder or reduce development potential. To circumvent this, a builder may be able to build over/behind the front facade of the property or move the property to a nearby zip code. All buyers should of course do their own due diligence. This turn-key property has plentiful charm and character, and has had recent interior and exterior renovations such as newer flooring, appliances, kitchens, bathrooms, fixtures, paint, and landscaping. These efficient units command premium rents in this sought-after downtown location. Most of the rents are at or near market, and there is an estimated 16% average rent upside. This allows an investor to collect healthy income while preparing for any future development, or just hold long-term for cash flow as units turn and rents are kept at market. Tenant amenities include gated property entry, on site laundry, a private patio with outdoor seating, and in-unit gas operated stove ranges. Parking lots on either side of the subject property provide monthly paid parking. In total, this property represents a fantastic turn-key investment opportunity with interesting development potential positioned in one of San Diego's most desirable urban multifamily markets. Don't miss this rare opportunity to acquire a larger multifamily asset in this submarket amid today's ongoing extremely limited inventory.

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• December, 2020

• Dec 7, 2020

  Date

  Expired

  CRMLS: PTP2001066

  $7,599,000

  Price

• Oct 29, 2020

  Date

  Active

  CRMLS: PTP2001066

  $7,599,000

  Price

• Listing provided courtesy of CRMLS

  The 11th Avenue Apartment Homes are comprised of (22) studio units and (3) 1bedroom+1bath units situated on a roughly 7,556 sqft lot with commercial zoning. The property has been recently upgraded with interior renovations. The property currently has a historical designation which the owner is working to remove. Situated in Downtown San Diego, the property is well-poised for long-term appreciation in one of San Diego's most desirable, urban multifamily markets. Located only minutes from the airport, San Diego's thriving urban center offers an abundance of options for accommodations, activities, dining and cultural attractions, all easily accessible by foot, bike, car or public transportation. In the historic Gaslamp Quarter, where modern architecture and Victorian- Age buildings stand side-by-side, you'll discover eclectic galleries, chic boutiques, trendy nightclubs, rooftop bars, gastropubs, craft beer haunts and fine dining restaurants lining the streets.

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• September, 2019

• Sep 2, 2019

  Date

  Expired

  CRMLS: 190018719

  $8,665,000

  Price

• Jun 22, 2019

  Date

  Price Change

  CRMLS: 190018719

  $8,665,000

  Price

• Apr 8, 2019

  Date

  Active

  CRMLS: 190018719

  $8,670,000

  Price

• Listing provided courtesy of CRMLS

  The 1130/34 11Th Avenue Apartment is located in the heart of Downtown offer investors to go into one of the most vibrant development opportunity in decades. The location is truly amazing within the walking distance what Downtown has to offer. The Trolley, City College, Sandiego Symphony, restaurants, shopping. The property is also near to a very trendy neighborhoods like East Village, Hillcrest, North park.The residents can enjoy thriving city life experience with artfully designed studio units. The property has been upgraded during the last three years. The link of recent downtown developments can be found https://sandiego.urbdezine.com/development-map/. The property surrounded by new construction developments. Its an amazing opportunity to buy or exchange into cash flowing property with future building development potential. Amenities: None

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• August, 2018

• Aug 13, 2018

  Date

  Sold

  CRMLS: 150064000

  $2,700,000

  Price

• Listing provided courtesy of CRMLS

  1130-1134 11th Avenue is a twenty-nine (29) unit apartment complex located in the heart of downtown San Diego. The property comprises a unique mix of studio apartments and single room occupancy units (SRO). The property's location - at the "Smart Corner" of 11th Avenue and C Street, directly adjacent to the City College Trolley Station - is in the midst of a transitional redevelopment phase and is surrounded by many new construction projects including condominium high-rises and other public spaces, such as the recently completed Central Library. An astute investor will realize the incredible potential of value in this rare parcel in an evolving area of world-renowned downtown San Diego. The greatest growth will be experienced here in years to come with thousands of homes and new office and retail spaces.

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• September, 2016

• Sep 28, 2016

  Date

  Sold (Public Records)

  Public Records

  $2,700,000

  Price

• October, 2001

• Oct 25, 2001

  Date

  Sold (Public Records)

  Public Records

  $1,300,000

  Price

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