7510 - 7516 1/2 Draper Avenue, La Jolla, CA 92037

$3,500,000
6
BD
List Price
$3,500,000
Price Change
▼ $250,000 1561188146
Days on Market
72
Status
ACTIVE
MLS#
190023813
Bedrooms
6
City
La Jolla
Property Type
Multifamily

Property Description

The property is located within the city limits of San Diego in the heart of the downtown La Jolla business district. The coastal city of La Jolla is one of the most desirable places to live in the world. La Jolla California, which means "The Jewel" is a beautiful seaside community that has been a popular beach resort since the late 1800's. Public transportation is nearby, no need for a car. Within walking distance to the beach, restaurants, shops and more. The lot is approximately 7000 square feet, 48 feet by 137 feet. Property is currently a five-unit garden apartment community with 3 buildings. One 2 bed/1.5 bath unit with driveway and 1 car garage. Two 1 bed/1 bath duplexes (4 units total) each with 1 parking space. Property has approximately 2,450 in rental space. Property is currently tenant occupied. With rehabilitation property has significant upside rent potential. Property is a developer/investor opportunity to demolish existing structures and build some new construction, up to 5 condominiums.

Additional Information

Gross Scheduled Income Actual
5
Style
Com-Res Income

Mortgage Calculator

Amount of Loan
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Calculator source: Real Geeks

Listing courtesy of FOSTER HAMILTON Real Estate Co

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