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$ 2,250,000
Est. payment | /mo
14 Beds
12 Baths
5,577 SqFt
$ 2,250,000
Est. payment | /mo
14 Beds
12 Baths
5,577 SqFt
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 5,577 sqft
Price per Sqft $403
MLS Listing ID 260012731
Bedrooms 14
Full Baths 12
Property Sub-Type Com-Res Income
Property Description
CBRE is pleased to present 701–15 60th Street, a 10-unit multifamily property located in the heart of Encanto, one of Southeast San Diego's most culturally rich and evolving rental submarkets. The property features a unit mix of eight (8) one-bedroom / one-bathroom units averaging approximately 534 square feet, and two (2) two-bedroom / one-bathroom units averaging 650 square feet. Built in 1940, the property was constructed with pitched roofs and provides ample parking with 10 off-street spaces. Additionally, the property features a dedicated on-site laundry room with existing electrical, a water heater, and plumbing infrastructure, ideal for washer and dryer installation. 701-15 N. 60th Street also can provide very favorable seller financing terms. The Seller is willing to provide up to 90% LTV, debt in the mid-5% range, with interest only payments. All terms are open to negotiation. The subject property is also situated within a federally designated Qualified Opportunity Zone, presenting a compelling tax advantage for investors deploying capital gains into the asset. Encanto continues to attract investor interest due to its affordability, strong community identity, and proximity to transit. The property is located just a short walk from the Encanto/62nd Street Trolley Station, providing direct access to Downtown San Diego via the Orange Line. With Southeast San Diego's growing population, low vacancy rates, and increasing demand for affordable, well-located rental housing, 701–15 60th Street presents an excellent opportunity for investors seeking a value-add asset.
Location
State CA
County San Diego
Area Metro Central
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Others
Senior Community No
Tax ID 549-051-33-00
Listed by Michael Robert Greiner, DRE#01844828 CBRE
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