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We are proud to present 344 Prospect, a rare coastal multifamily o?ering 5 apartment homes in one of SoCal’s most desirable sub-markets, ocean views and a very special underutilized roof-top deck. Built in1961, this asset boasts elegant Beverly Hills style split-level construction o?ering resident privacy with secure access interior hallways, on-site laundry, storage and an interior corridor. Total building footprint per assessor records is 6,027with interior living spaces totaling 4,637 after deducting hallways, etc. Units A &B have exterior patios o? the rear doors of 162 and 133 square feet respectively (see detailed rent roll). The top ?oor’s two (2) units were converted with permits to a large 1500+ sq feet penthouse unit (unit E); ideal for an owner occupant or to remodel and rent out at a premium with the roof-top connection. The other units (A-D) have undergone modest interior upgrades over the years; however, signi?cant opportunity exists to remodel to modern standards and signi?cantly raise rents. There is ample street parking along Prospect and La Jolla Blvd with3 o?-street spaces included in the front. The property has an easement in the rear allowing for ingress / ingress to Scripps Lane below and coastal access. 344 Prospect is a once in a lifetime opportunity to purchase a true A+ location with signi?cant value add opportunity at below $1000 / sq. ft (based on list price). The asset has signi?cant upside in rental income thru more proactive management and modernizing interiors.
Property Type(s):
Commercial
| Last Updated | 11/19/2024 | Community | La Jolla |
|---|---|---|---|
| County | San Diego |
Additional Details
| AIR CONDITIONING | Yes |
|---|---|
| AREA | La Jolla |
| CONSTRUCTION | Drywall, Frame, Stone |
| HEAT | Forced Air |
| HOA DUES | 0 |
| LOT | 3950 sq ft |
| ZONING | R-3 |
Location
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Listed with Mango Tree Real Estate Corp.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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