1704 Hornblend St, San Diego, CA 92109 | MLS #240003803SD | Willis Allen Real Estate
 
  • 53 days on site
  • 4 views

Why buy new? A) 15-year new construction exemption from AB 1482's rent control provisions. B) Low maintenance. C) Built by a highly reputable builder who is based out of Pacific Beach and has built over 5,000 units. *** Located in the heart of Pacific Beach and walkable to countless neighborhood assets, this brand new construction mid-rise built in 2023 is a rare find in a bustling coastal community. Mix includes 18x 2 bed/2baths, 2x 1 bed/1bath, and 1x commercial retail space. Building has secure entry, lobby/mail room, elevator, garage with 21 parking spaces including 2 EV chargers, bike storage, and refuse room. Apartments feature quartzite countertops, in-unit laundry, central heat & AC, vinyl flooring, balcony(s), and stainless steel appliances. Apartment utilities are metered separately and paid by tenants. Building is FULLY leased & move-ins are currently underway. *Price reflects outright sale, but Seller is also willing to sell 49% interest and retain 51%. There is currently a $4.8m loan on the property at 4.5% interest.* **Cost segregation study recently completed, which will provide an additional $1.28M in depreciation for 2024. Building is solar-ready, which is estimated to provide $25k in revenue/year if installed along with additional tax credits.** Documentation is available upon request. ***Exceptional walkability to groceries, restaurants, cafes, gyms, yoga studios, and more. 1.5 miles to the ocean, 1.5 miles to Interstate 5, and a 15 minute drive to San Diego International Airport. *3.73% Cap Rate | 18.3 Gross Rent Multiplier.

Listed by:

Berkshire Hathaway HomeServices California Properties

Source: CRMLS, MLS#: 240003803SD

  • Property Type
    CommercialSale
  • Lot
    0.29 Acres

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Willis Allen Real Estate
  • Median Age
    32
  • Population Density
    3,935
  • College Educated
    75%
  • Estimated Median Monthly Income
    $92,379
  • Estimated Total Home Owners
    6,822
  • Estimated Total Renters
    15,071
  • Owner / Renter Divide
    31% / 69%
  • Estimated Average Household Size
    2
  • Total Population
    46,777
  • Community data courtesy of LiveBy, Inc.

Owning this Home

$
$ %
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*Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Life at 1704 Hornblend St


Schools

5
Barnard Elementary
  • Grades: KG-6
  • Public
4
Crown Point Elementary
  • Grades: KG-5
  • Public
4
Pacific Beach Elementary
  • Grades: KG-5
  • Public
5
Sessions Elementary
  • Grades: KG-5
  • Public
5
Barnard Elementary
  • Grades: KG-6
  • Public
4
Pacific Beach Middle
  • Grades: 6-8
  • Public
4
Mission Bay High
  • Grades: 9-12
  • Public
School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

History

Date Event Value Agent
4/12/2024Source: CRMLS Price Reduction
$13,995,000 -4.1%
4/3/2024Source: CRMLS Price Reduction
$14,595,000 -2.7%
3/8/2024Source: CRMLS Price Reduction
$14,995,000 -3.3%
3/1/2024Source: CRMLS Price Reduction
$15,500,000 -6.1%
2/21/2024Source: CRMLS Added to Database
February 21, 2024