2109-11 Felspar Str

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2109-11 Felspar Str

San Diego, CA 92109
Asking Price
$2.10M
Asset Type
Multifamily
Class
Class B

What's Special

2109-11 Felspar Street is located in the Pacific Beach neighborhood of San Diego, situated three blocks east of the Pacific Ocean and two blocks north of Grand Avenue. The surrounding area is characterized by a mix of low-to-medium density residential housing and commercial corridors. Residents have immediate access to local cafes, retail centers, and the boardwalk. The property is positioned near major bus routes on Garnet Avenue and provides straightforward vehicle access to Interstate 5, connecting the site to the greater San Diego metropolitan area. The property is suited for multi-unit residential use, such as long-term rentals or a primary residence with supplemental income units. Given the proximity to the coast and central business districts, the location typically attracts a tenant profile consisting of young professionals, outdoor enthusiasts, and students. The high walkability score and beach-accessible location support consistent demand for housing in this submarket. The asset offers a functional layout for investors seeking a stabilized residential product in a established coastal community.

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NOI
$80,000
Cap Rate
3.81%
DSCR
0.64
Underwater
Cash-on-Cash
-7.09%
Monthly Payment
$10,389.654
Annual Cash Flow
$-44,675.85

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