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$ 5,400,000
Est. payment /mo
Pending
5049 Cape May Ave San Diego, CA 92107
10,632 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 260009653SD
HOA Y/N No
Lot Size 10,632 Sqft
Property Sub-Type Mixed Use
Property Description
The Palms on Cape May is a 12-unit coastal apartment community located one block from the Pacific Ocean in San Diego's highly sought-after Ocean Beach submarket. The property offers investors a rare opportunity to acquire a well-located asset with spacious units, strong in-place income, and meaningful rental upside through interior improvements. The property has been well maintained and provides investors with stable in-place income along with potential rental upside through strategic interior upgrades. With spacious units and strong tenant demand for beach-adjacent housing, the property is well positioned for continued long-term performance. Residents benefit from 17 on-site parking spaces, including five tandem spaces in the front of the property and seven single spaces in the rear, a valuable amenity in this highly walkable coastal neighborhood where parking is often limited. Located just steps from Newport Avenue, tenants enjoy walkable access to Ocean Beach's vibrant mix of restaurants, cafés, retail shops, and neighborhood amenities. The Palms on Cape May presents a rare opportunity to acquire a well-located multifamily asset in one of San Diego's most sought-after beach communities.
Location
State CA
County San Diego
Area 92107 - Ocean Beach
Interior
Fireplace No
Exterior
Total Parking Spaces 17
Others
Tax ID 4481014100
Virtual Tour https://www.propertypanorama.com/instaview/snd/260009653
Listed by Dylan Wright MD Real Estate, Inc #01411216