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Welcome to 1050-1060 Scott St, an unparalleled investment opportunity in the heart of the prestigious Point Loma Marina area! This extraordinary 8-unit residential income property comprises eight luxurious two-story townhouses, each offering 3 bedrooms, 2.5 baths, plus a versatile optional 4th bedroom. Built in 2002, this gem boasts a prime location, mere minutes from Downtown San Diego, Ocean Beach, and the breathtaking Sunset Cliffs. Enjoy the perfect synergy of urban convenience and coastal serenity. Currently yielding a robust 4% cap rate with tremendous potential for increased returns through short-term rentals or Airbnb, possibly boosting the cap rate to an impressive 7%+. This property is a financial powerhouse waiting for the right investor to unlock its full potential. Each unit is thoughtfully designed with hardwood flooring, spacious layouts, master bedrooms with en-suite bathrooms, and convenient in-unit laundry facilities. The recent exterior stucco renovations enhance its stunning curb appeal, while the overall condition offers a unique opportunity for personalized upgrades. The expansive layout provides ocean views from the second floor of most units, making it an irresistible draw for discerning tenants. Residents enjoy the convenience of underground parking and ample street parking. Situated just a block from the Bay and Shelter Island Drive, this property is perfectly positioned near the San Diego Yacht Club, Liberty Station, Silver Gate Yacht Club, and the serene Lucy Evans Memorial Garden. The vibrant Point Loma Village offers a plethora of dining, shopping, and outdoor activities, including the iconic Sunset Cliffs Natural Park, renowned for its hiking trails, tide pooling, and breathtaking sunset vistas. With no HOA or Mello-Roos fees, this property stands as an exceptional investment in one of San Diego’s most sought-after neighborhoods. Whether you're looking to capitalize on immediate income or enhance the property to maximize future returns, this is your chance to own a prime piece of real estate in the thriving Point Loma market. Seize this rare opportunity to own a prestigious income property in the highly coveted Point Loma Marina area. Act now and let your investment dreams set sail with 1050-1060 Scott St!
Property Type(s):
Residential Income
| Last Updated | 7/6/2024 | Year Built | 2002 |
|---|---|---|---|
| Community | Point Loma | Garage Spaces | 23.0 |
| County | San Diego |
Price History
| Prior to Jul 5, '24 | $4,400,000 |
|---|---|
| Jul 5, '24 - Today | $9,600,000 |
Additional Details
| APPLIANCES | Dryer, Washer |
|---|---|
| AREA | Point Loma |
| GARAGE | Yes |
| HOA DUES | 0 |
| LOT | 10077 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| ZONING | Res Income 2-4 Units/ R3/ |
Location
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Listed with AK Broker
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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