$4,400,000
344 Prospect Street La Jolla, CA 92037
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$4,400,000
Est. payment /mo
3,950 Sqft Lot
New
344 Prospect Street La Jolla, CA 92037
UPDATED:
11/19/2024 09:26 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240027113SD
HOA Y/N No
Lot Size 3,950 Sqft
Property Description
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.
Location
State CA
County San Diego
Area 92037 - La Jolla
Zoning R-3
Interior
Heating Forced Air
Fireplace No
Exterior
Total Parking Spaces 3
Others
Tax ID 3504002800
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Listed by Chris Robinson • Mango Tree Real Estate Corp.
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