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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$5,450,000

Est. payment - /mo

3 Beds

6 Baths

0.31 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2604512

Bedrooms 3

Lot Size 0.310 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and all major infrastructure system improvements. The property is ideally situated near major transportation corridors, steps away from the amenity and retail filled University Ave, and provides seasoned investors with the Golden Standard Class B location asset known to provide the strongest aggregate return and operational profile. Current ownership has completed significant capital improvements, eliminating all deferred maintenance and substantially reducing future expenses. Improvements include renovation of 18 units, major electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, new pitched roofs, and numerous interior and exterior enhancements. The property consists of an ideal & diverse unit mix of (8) 2 Bed / 1 Bath, (8) 1 Bed / 1 Bath, and (4) Studio units. The property further provides an attractive 1:1 parking ratio and gated access. Ownership will benefit from meaningful economies of scale while maintaining the operational simplicity of a low-density garden style asset. The asset currently generates $462,538 GSI yielding a 5.19% in-place cap rate. There is approximately 12% income upside at conservative market rents to produce a forecasted $519,690 GSI and 5.95% market cap rate with minimal additional capital investment required. 7025 Boulevard Drive is strategically situated in what many seasoned San Diego multifamily investors consider the Golden Standard middle market location profile. The Property's Class B l

Location

State CA

County San Diego

Direction GPS

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 4741700300

Acceptable Financing Conventional

Listing Terms Conventional

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Listed by Maxwell Brown, DRE#02127395 Commercial Asset Advisors

Nearby School & Business

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Arash Rokni

REALTOR® | CADRE# 02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

7025 Boulevard Drive La Mesa, CA 91941

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

GET MORE INFORMATION