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Sold for $3,525,000
  • $3,525,000

    1614-20 Reed Ave, San Diego, CA 92109

    8beds
    5baths
    5,766sqft
    Multi Family
    Built in ----
    -- sqft lot
    $3,870,700 Zestimate®
    $611/sqft
    $4,232 Estimated rent

    Home value

    $3,870,700

    $3.44M - $4.41M

    $4,232/mo

    Zestimate® history
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    $4,232/mo

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    $22,032/mo

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    $22,032/mo

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    What's special

    JUST REDUCED!!!! This is the BEST Pacific Beach value add opportunity that I have seen in my thirty plus year career! The property is located on a low traffic street within a mile of the coast and less than three quarters of mile from Mission Bay and is within minutes of I-5 and I-8. Four one bedroom and four two bedroom units which is a better unit mix than 70% of buildings between 5-20 units. Rents are currently well below market. Property manager reports that all leases are month to month. Owner of a twin renovated building three blocks away states his rents are $3,000 for one bed and $4,200 for two bed units. Making renovations can make the rents yield an NOI better than $200k annually. Most of the units have vinyl flooring, upgraded kitchens and baths, attractive new tile showers, stainless steel appliances, tasteful interior décor, and ceiling fans. Rents shown reflect a 10% increase effective 5/1/23. For a qualified rehabber a 60% loan to value may be possible. Please include a completed "AS-IS addendum" from documents section with all offers.

    Zillow last checked: 7 hours ago

    Listing updated: March 03, 2025 at 03:48pm

    Listed by:

    Terry Moore DRE #00918512 619-889-1031,

    Apartment Consultants Incorporated

    Bought with:

    Ray Adams, DRE #00989238

    Ray Adams Investment Real Estate Inc

    Source: SDMLS,MLS#: 220024084MLS LogoOriginating MLS: San Diego Association of REALTOR

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 8
    • Bathrooms: 5
    Interior area
    • Total structure area: 5,766
    • Total interior livable area: 5,766 sqft

    Property

    Parking
    • Total spaces: 5
    Features
    • Stories: 2
    Lot
    • Size: 6,098 sqft

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family

    Community & neighborhood

    Location
    • Region: San Diego

    HOA & financial

    Other financial information
    • Total actual rent: 9130

    Price history

    DateEventPrice
    4/19/2023Sold$3,525,000$611/sqft
    Source: SDMLS #220024084 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: Pacific Beach

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $3,870,700
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $3,870,700