Hazel Rosete and Mie Kim, affiliate agents with the Carmel Valley and Encinitas/La Costa offices of Coldwell Banker Residential Brokerage, respectively, have listed a 17-unit apartment complex in San Diego for $7,995,000. Located at 4459 Fanuel St. in San Diego, the apartment complex is on an approximately 0.36-acre lot.
“What makes this investment property unique is that it is being leased out to a single tenant that runs a rehabilitation facility with residential units for its clients,” said “The current tenants are paying a NNN lease with 3% increase in rent each year, currently signed until April 2023 with the option of extending until 2026. The cap rate of 5.4% in this area is extremely rare.”
In the Pacific Beach community, this renovated 17-unit apartment complex encompasses studio apartments, a manicured courtyard, nine off-street parking spots, one single garage and a community laundry facility.
To view the home, click here or contact Hazel Rosete at 619-818-4540 or hazel.rosete@camoves.com and Mie Kim at 760-635-4232 or mie.kim@cbcnrt.com.
Coldwell Banker Commercial NRT operates in 21 states and provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbworldwide.com
