Sold
1451 University Ave
San Diego CA, 92103
$4,000,000
Sold
Commercial
Listed by Cody Evans with South Coast Commercial, Inc. 619-226-6011
***Attractive Seller Financing Now Available. 5.5% INTEREST ONLY Payments Fixed for 7 Years*** These retail buildings located in the center of Hillcrest, at 1451-59 University Avenue, are now up for sale. It consists of 10,799 square feet of structure on a 12,894 square foot lot. There are two retail spaces which underwent major renovations in 2019. These improvements included new roofs, vinyl plank flooring, inside and outside painting, an ADA ramp, a brand new fence, seal and striping of the parking lot, two bathrooms (one ADA compliant), HVAC and new lighting. Moreover, it is situated in Complete Communities Tier 2 with a FAR of 8.0 and also features CC 3-8 zoning. The first tenant is a restaurant which holds 1,250 square feet and signed a five year lease on October 1st, 2019. There are two five year options to extend at a mutually agreeable market rate. The second tenant, a thrift store, has 6,216 square feet on the ground floor and an additional 3,333 square feet of mezzanine space on the second floor. This tenant contracted a ten year lease with two five year extensions on March 1st, 2019 that contain 2% annual increases. Both tenants cover the costs of electricity, water, sewer, and garbage while the owner is responsible for taxes, insurance, roof, and structure. This is a tremendous chance to own a retail building in the desirable area of Hillcrest.
230002596SD
MLSⓇ ID
February 8, 2023
Listed
March 23, 2024
Updated
Map
1451 University Ave
San Diego CA, 92103
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.3 Acres
Other Property Details
Area Name
92103 - Mission Hills
Days on Market
52
Garage
No
Parking Total
0
View
No
County
San Diego
Pool
No
Zoning
CC 3-8
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
---|---|---|
5/12/2023 | Price Change | $4,000,000 -6% |
5/12/2023 | Sold | $4,000,000 |
Listing Contact: 619-226-6011
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:23 AM UTC