1517 Reed Ave
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1517 Reed Ave
7 Unit Apartment Building $3,350,000 ($478,571/Unit) San Diego, CA 92109
Investment Highlights
- Premier Crown Point neighborhood location in Pacific Beach with significant rental upside
- Walking distance to Sail Bay, the boardwalk, world class restaurants, trendy shopping, cafes, schools, parks, and entertainment
- Convenient access to Interstate 5 and 8
- Ideal unit mix of spacious floor plans including 2+2, 2+1.5 townhomes, 1’s and a studio
- Private laundry facility, off street parking including garages with ADU potential
- Extremely competitive housing market ideal for multifamily investment
Executive Summary
CBRE is pleased to offer for sale 1517 Reed Avenue, a
7-unit residential community perfectly situated on the
northern edge of the Crown Point neighborhood of
Pacific Beach. Well maintained, 1517 Reed offers a new
investor significant immediate rental upside. Built on a
6,251 SF lot, the property features an ideal unit mix of
spacious floor plans, including a two-bedroom, two-bath,
(3) two-bedroom, one & half bath townhomes, (2)
one-bedrooms, and a studio. The property also offers
2 garages, 5 opens spaces (4 with tandem potential),
and a laundry facility for the tenant’s convenience. The
garages provide future ADU potential. Year built is unknown.
7-unit residential community perfectly situated on the
northern edge of the Crown Point neighborhood of
Pacific Beach. Well maintained, 1517 Reed offers a new
investor significant immediate rental upside. Built on a
6,251 SF lot, the property features an ideal unit mix of
spacious floor plans, including a two-bedroom, two-bath,
(3) two-bedroom, one & half bath townhomes, (2)
one-bedrooms, and a studio. The property also offers
2 garages, 5 opens spaces (4 with tandem potential),
and a laundry facility for the tenant’s convenience. The
garages provide future ADU potential. Year built is unknown.
Property Facts
| Price | $3,350,000 | Building Class | C |
| Price Per Unit | $478,571 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 6,251 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1965 |
| Apartment Style | Low Rise | Parking Ratio | 1.12/1,000 SF |
| Price | $3,350,000 |
| Price Per Unit | $478,571 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,251 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.12/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,295 | 900 |
| 2+1.5 | 3 | $3,195 | 850 |
| 1+1 | 2 | $2,695 | 600 |
| Studios | 1 | $2,095 | 450 |
1 of 1
Walk Score ®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 423-284-03 | Improvements Assessment | $197,041 |
| Land Assessment | $67,238 | Total Assessment | $264,279 |
PROPERTY TAXES
Parcel Number
423-284-03
Land Assessment
$67,238
Improvements Assessment
$197,041
Total Assessment
$264,279
zoning
| Zoning Code | R3 |
| R3 |
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Philip Buckley -
CBRE, Inc.
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1517 Reed Ave
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