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Lucio Real Estate Group

joe.lucio@exprealty.com +1(805) 512-0065

$1,199,000

Est. payment - /mo

6,433 Sqft Lot

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 260017358SD

HOA Y/N No

Lot Size 6,433 Sqft

Property Sub-Type Mixed Use

Property Description

Rare opportunity to acquire a five-unit apartment investment with immediate cash flow, value-add potential, and flexible long-term strategies. Situated on a prominent corner parcel with Commercial CC-4-5 zoning within a Transit Priority Area, the property offers multiple paths to increase value in one of San Diego's strongest rental markets. Convert the lower level back to retail, office space, salon, personal services and retain the tenants upstairs. Perfect for small business owners as a live/work space. Or maximize income through rental stabilization while creating plans for a mixed-use redevelopment project. The property currently features two tenant occupied 2-bedroom/1-bath apartments on the second floor, two tenant occupied 1-bedroom/1-bath apartments on the main level, and one vacant studio on the first floor, providing immediate lease-up potential. Current income is supported by long-term tenancy, while below-market rents offer significant opportunity for future growth. (see suppl) Additional income potential includes an owner-owned coin-operated laundry room and four storage rooms that may be leased separately to increase cash flow. Six off-street parking spaces and a shared rear courtyard with pergola. Prior to residential use on the main level, there was a construction office and hair salon, so the new owner could potentially convert back to retail space. The upper-level units feature private exterior entrances, while the lower level offers convenient ground-floor access. Commercial CC-4-5 zoning and the property's location within a Transit Priority Area provide added flexibility for investors seeking long-term appreciation and future redevelopment potential. Buyers are encouraged to verify all zoning, permitted uses, and development opportunities with the City of San Diego. Conveniently located with quick access to Downtown San Diego, major freeways, public transportation, shopping, dining, and employment centers, this is a compelling opportunity for investors seeking stable in-place income with meaningful upside through lease optimization, additional ancillary income, and long-term strategic positioning.

Location

State CA

County San Diego

Area 92114 - Encanto

Zoning COMMERCIAL

Interior

Heating Forced Air, See Remarks, Wall Furnace

Fireplace No

Exterior

Total Parking Spaces 6

Others

Tax ID 5810203000

Acceptable Financing Cash, Cash to New Loan, VA Loan

Listing Terms Cash, Cash to New Loan, VA Loan

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Listed by Darin Triolo Keller Williams Realty #01376927

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Lucio Real Estate Group

Broker Associate | License ID: 01893011

+1(805) 512-0065

joe.lucio@exprealty.com

www.LucioRealEstate.com

1000 Town Center Dr #300, Oxnard, CA, 93036, USA

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6945 Imperial Ave. San Diego, CA 92114

Lucio Real Estate Group

Key Details

Location

Interior

Exterior

Others

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6945 Imperial Ave.