1532 Hornblend St 8 Unit Apartment Building $5,546,258 CAD ($693,282 CAD/Unit) 3.59% Cap Rate San Diego, CA 92109

MD Real Estate Inc is proud to present the Hornblend Apartment Homes, an 8 unit rental community centrally located in Pacific Beach, CA. Situated on a 6,240-square-foot lot, the property features four spacious 1-bedroom/1-bath units, two 2-bedroom/1-bath units, and one 2-bedroom/2-bath unit. Residents enjoy a peaceful, well-kept courtyard, four on-site tandem parking spaces, four single car garages, and a convenient on-site laundry facility with leased equipment. Four of the units have been extensively remodeled and are rented at top market rents while the other four units have long terms tenant and can benefit for remodeling and renting at higher market rents. Additionally, the four single car garages in the rear have ADU potential to further increase rental income.
With its prime location just minutes from the beach, vibrant dining, shopping, and outdoor recreation, The Hornblend Apartment Homes offer an attractive lifestyle for tenants seeking a balance of coastal living and urban convenience. The property has been well maintained over the years, yet a strategic value-add opportunity exists to modernize the interiors and further enhance rental income.