Joe McLaughlin / Broker Associate

My Office Listings

3874-80 Riviera
Coastal South San Diego 92109

$6,295,000 /1041666.0
Com-Res Income 8,187 sq. ft. built: 1970

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Photo 1: Property for sale: 3874-80 Riviera in San Diego
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Status:
Active
Prop. Type:
Com-Res Income
MLS® Num:
230004686
Year Built:
1970
Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This one-of-a-kind property also includes (1) 2 bed/2.5 bath and (4) 1 bed/1 bath units, currently rented below market value rents. There is potential to increase the NOI by bringing all rents to market rates. The main 4 bed/2.5 bath unit is an extremely successful vacation rental, continuously booked year-round. Additional income from the laundry machines on the property. Each unit is individually metered for electricity, with a new roof installed in 2021. This property has been self-managed for the last 18 years by the current owners, ensuring exceptional care. This rare offering presents a unique opportunity to add a highly sought-after asset to your commercial real estate portfolio. Don't miss out on this chance to acquire a well-maintained property in a prime location.
Price Per Unit:
1041666.0
Total Floor Area:
8,187 sq. ft.
Lot Size Commercial:
.25 Acres or less
County:
San Diego
Market Area:
Coastal South
Number of Buildings:
1
Number of Units:
6
Num Stories:
2
Year Built:
1970
Cap Rate.:
2.71
Gross Multiplier:
17.86
Gross scheduled income:
352416.0
Operating expense:
$171,393
Projected Cap Rate.:
3.78
Projected gross scheduled income:
426,504
Projected operating expense:
$175,538
Gross equity:
6295000
Motive / Want:
Sell
Financial Information Source:
Owner
Short Sale:
No
Listing Type:
Exclusive Right (R)
Complex Features:
N/K
Exterior Finish:
None
Parking:
Carports
Number of Carports:
4
Total Parking Spaces:
9
Cooling:
Other
Heating:
Central Forced Air Gas, Wall/Gravity
Laundry:
Owned
Construction Material:
Drywall, Frame, Stucco
Roof:
Composition
Floor finish:
Hardwood, Other/Remarks, Tile, Vinyl
Number of Units with Dishwashers:
6
Number of Units with Disposals:
6
Number of Units with Range/Oven:
6
Number of Units with Refrigerators:
6
Parcel Number:
423-410-07-00
Number of Units in Unit 1:
1
Unit 1 Furnished:
n
Total Rent for Unit 1:
213460.0
Bedrooms for Unit 1:
4
Bathroom 1:
2.5
Number of Units in Unit 2:
2
Unit 2 Furnished:
N
Total Rent for Unit 2:
39480.0
Bedrooms for Unit 2:
2
Bathroom 2:
2.5
Number of Units in Unit 3:
1
Unit 3 Furnished:
n
Total Rent for Unit 3:
21400.0
Bedrooms for Unit 3:
1
Bathroom 3:
1.0
Number of Units in Unit 4:
1
Unit 4 Furnished:
n
Total Rent for Unit 4:
39480.0
Bedrooms for Unit 4:
1
Bathroom 4:
1.0
Number of Units in Unit 5:
2
Unit 5 Furnished:
n
Total Rent for Unit 5:
52560.0
Bedrooms for Unit 5:
1
Bathroom 5:
1.0
  • Photo 1: Property for sale: 3874-80 Riviera in San Diego
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    Dining Room
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    Dining Area
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    Master Bedroom
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    Living Room
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    Entry
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    Patio/Deck
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    Kitchen
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    Kitchen
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    Kitchen
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    Kitchen
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    Living Room
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    Breakfast Area
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    Patio/Deck
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    Master Bedroom
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    Master Bedroom
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    Master Bedroom
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    Master Bath/Spa
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    Master Bath/Spa
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    Den/Family/Great Room
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    Den/Family/Great Room
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    Bedroom
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    Patio/Deck
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    Bedroom
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    Bathroom
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    Patio/Deck
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    Patio/Deck
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    Patio/Deck
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    Patio/Deck
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    Living Room
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Data was last updated March 21, 2023 at 07:10 AM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$4,947,500
Min list price:
$2,495,000
Max list price:
$11,775,000
Avg days on market:
60
Min days on market:
8
Max days on market:
631
Avg price per sq.ft.:
$651.59
These statistics are generated based on the current listing's property type and located in Coastal South. Average values are derived using median calculations.
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 Multiple Listing Service, Inc. 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 © 2023 San Diego Multiple Listing Service, Inc.