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    509 Park Blvd.

    San Diego, CA 92101
    • $8,000,000
    • STATUS: ACTIVE
    • ON SITE: 11 days
    • ID#: 210000002
    $8,000,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    76 residential units+3000 Sg Ft in 2 commercial spaces units 100 & 106+Enclosed Terrace Vacant currently used for storage. The floor plans attached herein see Documents and Pictures. Local Historic Building designation, Opportunity Zone Tax benefits with improvements. The Bay View Hotel aka Palms Hotel Originally constructed in 1869 then expanded in 1888, building in the Italianate architectural style. The building incorporates a portion of the original 1869 hotel. The large, U-shaped building features a flat roof, a bracketed cornice with a plain frieze spanning the perimeter of the building. Exterior building materials consists of brick veneer and wood, first floor corner retail space with 47 apartment units designated as SRO (single room occupancy) and 30 apartments some are hotel sleeping rooms created by prior owners dividing an apartment into 2 units, common bathrooms on each floor, common kitchen on 1st floor, 9 units have separate kitchen and bath, 1 unit with Kitchen and a few units with only sinks.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.yournextcalihome.com/homes/112980917
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    509 Park Blvd. San Diego, CA 92101

    • Price: $8,000,000
    • Status: ACTIVE
    • ID#: 210000002
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    Neighborhood:
    San Diego Downtown (92101)
    County:
    San Diego
    Area:
    San Diego Downtown (92101)
    Property Description
    76 residential units+3000 Sg Ft in 2 commercial spaces units 100 & 106+Enclosed Terrace Vacant currently used for storage. The floor plans attached herein see Documents and Pictures. Local Historic Building designation, Opportunity Zone Tax benefits with improvements. The Bay View Hotel aka Palms Hotel Originally constructed in 1869 then expanded in 1888, building in the Italianate architectural style. The building incorporates a portion of the original 1869 hotel. The large, U-shaped building features a flat roof, a bracketed cornice with a plain frieze spanning the perimeter of the building. Exterior building materials consists of brick veneer and wood, first floor corner retail space with 47 apartment units designated as SRO (single room occupancy) and 30 apartments some are hotel sleeping rooms created by prior owners dividing an apartment into 2 units, common bathrooms on each floor, common kitchen on 1st floor, 9 units have separate kitchen and bath, 1 unit with Kitchen and a few units with only sinks.
    Exterior Features

    Carports 0 Construction DrywallFrameLath/PlasterOther/Remarks Exterior None Lot Dimensions Approx 154X124irreg Parking None Parking Spaces Total 0 Roof Composition Units With Garages 0

    Interior Features

    Cooling None Floor Coverings HardwoodVinylWall To Wall Carpet Floors Wood Heating Other/Remarks Laundry Leased Sq Ft Of Improvement 32750 Stories 3 Story

    Property Features

    Actual Cap Rate 0.04 Actual Gross Operating Income 652241. Actual Gross Scheduled Income 652241.0 Actual Operating Expense 315119. Actual Vacancy And Credit Loss Shown Herein Assumable Finance 0 Buildings 1 Complex Features NoneOther/Remarks Existing Financing Private Financial Information Source Owner Fiscal Year From 19 Fiscal Year To 20 Gross Equity 5100000 Gross Multiplier 12.26 Have 77Apartments 2 Commercial Mandatory Remarks None Known Market Area Metro Central Motive Want Acceptable 1031 Or Cash Other Income Actual 0 Other Income Amount 0 Present Loan $2900000.00 Projected Gross Scheduled Inc Suites 100 & 106 Vacant Projected Other Income $90000 Nnn 3000 Sq Ft Short Sale No Special Sellers Are Re LicenseesService ContractsOther/Remarks Sq Ft Source Buyer To VerifyPlansTax Record Terms CashExchange UpSubmitOther/Remarks Unit Number1 78 Unit Type ApartmentOther/Remarks Zoning Ccpd-R - R

    Listing provided courtesy of Wa Rigley Corp. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    The Legacy Real Estate Team
    10620 Treena St, Suite 230
    San Diego CA, 92131