2611 Adams Avenue, North Park (san Diego), CA 92116
2611 Adams Avenue, North Park (san Diego), CA 92116
2611 Adams Avenue, North Park (san Diego), CA 92116
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Glen Henderson

Glen Henderson

+1(619) 889-7646
$4,495,000
Est. payment /mo
7,009 Sqft Lot
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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2608921

Lot Size 7,009 Sqft

Property Sub-Type Res Income 2-4 Units

Property Type Res Income 2-4 Units

Property Description

NORTH PARK | SELLER FINANCING AVAILABLE. 2611 Adams Avenue is a fully renovated mixed-use income property along the highly desirable Adams Avenue Corridor. Offered at $4,495,000, the property features 10 furnished hotel suites currently operated by ownership plus a separately leased restaurant / hospitality component. Furnished suites have generated approximately $18,000/month in average historical income under current ownership. Seller is open to negotiating an approximately $15,000/month leaseback of the suite operations, with rent, term and other provisions negotiable. Restaurant is separately leased at $15,000/month under a long-term NN lease through August 2035 with 3% annual increases and additional percentage-rent potential. Fully renovated down to the studs in 2025. Prime North Park / Adams Avenue location. Approx. current 7.1% cap and $319K NOI based on current underwriting and owner-operated suite income.* Ideal 1031 exchange opportunity. Potential beer & wine license availability and owner-operator flexibility. Buyer to independently verify all financial, lease, licensing, use and property information.

Location

State CA

County San Diego

Zoning Assessor

Direction Contact Broker for Instructions

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 4450820100

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MLS Router / San Diego MLS
Listed by Eric von Bluecher, DRE#01926201 Lee & Associates 

Nearby School & Business

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Glen Henderson

Glen Henderson

+1(619) 889-7646

Broker Associate CA BRE #01384181

Broker Associate CA BRE #01384181

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Name

Phone*

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