San Diego Multifamily Cashflow Investment Opp 13.62% IRR 100k min

[Erin Wicomb]

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.