5116 W Point Loma Blvd
San Diego, CA 92107

Rare opportunity to acquire a multifamily investment with favorable zoning in an excellent Ocean Beach location. 5116 W Point Loma Blvd consists of 3 units with (1) Two-Bedroom, One-Bathroom Apartment Downstairs and (2) One-Bedroom, One-Bathroom Apartments Upstairs. The property zoning consists of both RM 4-10 (Multiple Family Residential) and RM 5-12 (Visitor Accommodations). The property was built in 1956 and sits on the site of the old Wonderland Amusement Park which opened in 1913 and played a large role in growing the popularity of Ocean Beach. The property backs up to the tidal marsh of the San Diego River Estuary where it meets the Pacific. The property offers excellent views of the Ocean, Sea World Fireworks, Boat Channel and Mission Beach. The current owners purchased the property in 1995 with deferred maintenance. Since their ownership, they have remodeled the downstairs two-bedroom apartment with a new kitchen, new bathroom, polished concrete floor and a utility room with washer and dryer hookups. The upstairs units have new flooring, updated kitchen, and laundry. All units have wall A/C units, new in 2017.