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Chuck Lamm

chuck.lamm@engelvoelkers.com +1(818) 652-2876

$ 9,600,000

Est. payment -/mo

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1050 1060 Scott St San Diego, CA 92106

13,296 SqFt

UPDATED:

09/30/2024 06:01 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,296 sqft

Price per Sqft $722

MLS Listing ID NDP2405898

HOA Y/N No

Year Built 2002

Lot Size 10,075 Sqft

Property Description

Welcome to 1050-1060 Scott St, an unparalleled investment opportunity in the heart of the prestigious Point Loma Marina area! This extraordinary 8-unit residential income property comprises eight luxurious two-story townhouses, each offering 3 bedrooms, 2.5 baths, plus a versatile optional 4th bedroom. Built in 2002, this gem boasts a prime location, mere minutes from Downtown San Diego, Ocean Beach, and the breathtaking Sunset Cliffs. Enjoy the perfect synergy of urban convenience and coastal serenity. Currently yielding a robust 4% cap rate with tremendous potential for increased returns through short-term rentals or Airbnb, possibly boosting the cap rate to an impressive 7%+. This property is a financial powerhouse waiting for the right investor to unlock its full potential. Each unit is thoughtfully designed with hardwood flooring, spacious layouts, master bedrooms with en-suite bathrooms, and convenient in-unit laundry facilities. The recent exterior stucco renovations enhance its stunning curb appeal, while the overall condition offers a unique opportunity for personalized upgrades. The expansive layout provides ocean views from the second floor of most units, making it an irresistible draw for discerning tenants. Residents enjoy the convenience of underground parking and ample street parking. Situated just a block from the Bay and Shelter Island Drive, this property is perfectly positioned near the San Diego Yacht Club, Liberty Station, Silver Gate Yacht Club, and the serene Lucy Evans Memorial Garden. The vibrant Point Loma Village offers a plethora of dining, shopping, and outdoor activities, including the iconic Sunset Cliffs Natural Park, renowned for its hiking trails, tide pooling, and breathtaking sunset vistas. With no HOA or Mello-Roos fees, this property stands as an exceptional investment in one of San Diego’s most sought-after neighborhoods. Whether you're looking to capitalize on immediate income or enhance the property to maximize future returns, this is your chance to own a prime piece of real estate in the thriving Point Loma market. Seize this rare opportunity to own a prestigious income property in the highly coveted Point Loma Marina area. Act now and let your investment dreams set sail with 1050-1060 Scott St!

Location

State CA

County San Diego

Area 92106 - Point Loma

Zoning Res Income 2-4 Units/ R3/

Rooms

Ensuite Laundry Inside

Interior

Laundry Location Inside

Fireplace No

Appliance Dryer, Washer

Laundry Inside

Exterior

Garage Spaces 23.0

Garage Description 23.0

Pool None

Community Features Curbs, Street Lights, Sidewalks, Urban

View Y/N No

Total Parking Spaces 23

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

New Construction No

Others

Senior Community No

Tax ID 5313730500

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Ava Khamooshi • AK Broker • 619-212-0856

Chuck Lamm

Broker Associate | License ID: 00857151

+1(818) 652-2876

Chuck Lamm

1050 1060 Scott St San Diego, CA 92106

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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1050 1060 Scott St