2611 Adams Avenue, San Diego, CA 92116
- $4,495,000
- List Price
- $4,495,000
- Status
- ACTIVE
- MLS#
- NDP2608921
- Year Built
- 2025
- Lot Size
- 7,009
- Acres
- 0.16
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 0
- Property Type
- Multifamily
Property Description
7.1% CAP | SELLER FINANCING AVAILABLE. Rare North Park income property located along the highly desirable Adams Avenue Corridor. Offered at $4,495,000 with approximately $319,000 NOI based on current underwriting. Fully renovated down to the studs in 2025, the property features 10 furnished hotel suites leased to a single operator plus a separately leased restaurant / hospitality component. Commercial space is leased at $15,000/month on a long-term NN lease through August 2035 with 3% annual rent increases and additional percentage-rent potential. Property offers a low-maintenance operating structure with many expenses paid by the respective tenants/operators. Prime walkable North Park location, approximately 5 on-site parking spaces and expansive indoor/outdoor commercial space. Ideal 1031 exchange opportunity. Seller financing available to qualified purchasers. Potential leaseback / owner-operator flexibility. Beer & wine license may be available separately in connection with the sale, subject to transferability and applicable approvals. Buyer to verify all information.
Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $396,000
- Operating Expense
- 65352
Listing courtesy of Listing Agent: Eric von Bluecher (evb@lee-associates.com) from Listing Office: Lee & Associates.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.