San Diego Multifamily Cashflow Investment Opp 13.62% IRR 100k min
Hi Bigger Pocket friends
This is rare opportunity for you to be part of mixed use building in downtown San Diego on the corner of 9th & Broadway
The building has 7 Residential Lofts on the second floor; 5 retail units on the ground floor and a billboard sign.
This is a buy and hold for at least 3 - 5 years
The seller was very motivated and we picked up the building for an incredible price of 2.2M
We will be doing a renovation and facelift to building and the income will jump from 24k a year to 360k a year.
(We already have a lease for all 7 residential units at $2555 per month per month for a 5 year term, $214,620 per year)
We only have limited spots (investment units) available for qualified investors that are looking for cashflow and equity appreciation over the next 3-5 years.
What I like most about this investment is that can produce 3 types of income which diversifies the risk:
1) from the billboard (2k per month 10 years left on the lease)
2) from the retail/businesses (Currently vacant need have 2 tenants interested)
3) residential rental income (Current LOI from international rental firm)
Bonus upside: Lastly this property is in the core of downtown San Diego and the property/lot has the ability to build another 8 stories (10 total) according to the zoning :)
If you have interest in this property or another one of our investment properties direct message or email me
Thank you.