5064-5066 Niagara Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
5064-5066 Niagara Ave
6 Unit Block of Flats £3,116,550 (£519,425/Unit) 2.92% Net Initial Yield San Diego, CA 92107
Investment Highlights
- Prime Oceanfront Location
- Extreme Upside in Rents Through High End Renovations
- Three Single Garages, One Tandem Parking Spot and Two Surface Spots (7 Total Parking Spaces)
- Panoramic Ocean Views from Most Units
- ADU Potential for One or Two Units Through Garage Conversions
Executive Summary
MD Real Estate Inc and Marcus & Millichap are pleased to present 5064-5066 Niagara Avenue, a 6-unit multi-family property located a few steps from the Pacific Ocean in the highly coveted Ocean Beach neighborhood of San Diego, California. The subject property rests on the water in front of the iconic Ocean Beach Pier and is a half a block from popular Newport Avenue. 5064-66 Niagara Avenue is comprised of two 2-story buildings with 6 partially upgraded, very well-maintained units. Units are comprised of a large 1,320 square foot 3 Bedroom/2 Bath unit and five 1 Bedroom/1 Bath units ranging from 497-619 square feet. Units feature a mix of floating vinyl plank, tile, and hardwood flooring, original hardwood cabinetry (a select few with custom white cabinets), quartz and formica countertops, tiled showers, and high-quality vanities. There are three single car garages in the alley with ADU potential, one tandem parking spot, and two surface spots at the front of the property. The property has great bones and a sophisticated investor should bring all units to highest-end finishes and lease short or long term at market rate.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£150,355
|
£36.91
|
| Other Income |
£664
|
£0.16
|
| Vacancy Loss |
£4,511
|
£1.11
|
| Effective Gross Income |
£146,507
|
£35.97
|
| Taxes |
£37,957
|
£9.32
|
| Operating Expenses |
£17,436
|
£4.28
|
| Total Expenses |
£55,393
|
£13.60
|
| Net Operating Income |
£91,114
|
£22.37
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £150,355 |
| Annual Per SF | £36.91 |
| Other Income | |
|---|---|
| Annual | £664 |
| Annual Per SF | £0.16 |
| Vacancy Loss | |
|---|---|
| Annual | £4,511 |
| Annual Per SF | £1.11 |
| Effective Gross Income | |
|---|---|
| Annual | £146,507 |
| Annual Per SF | £35.97 |
| Taxes | |
|---|---|
| Annual | £37,957 |
| Annual Per SF | £9.32 |
| Operating Expenses | |
|---|---|
| Annual | £17,436 |
| Annual Per SF | £4.28 |
| Total Expenses | |
|---|---|
| Annual | £55,393 |
| Annual Per SF | £13.60 |
| Net Operating Income | |
|---|---|
| Annual | £91,114 |
| Annual Per SF | £22.37 |
Property Facts
| Price | £3,116,550 | Apartment Style | Low Rise |
| Price Per Unit | £519,425 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Net Initial Yield | 2.92% | Building Size | 4,073 SF |
| Gross Rent Multiplier | 20.75 | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1960 |
| Property Subtype | Apartment |
| Price | £3,116,550 |
| Price Per Unit | £519,425 |
| Sale Type | Investment |
| Net Initial Yield | 2.92% |
| Gross Rent Multiplier | 20.75 |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,073 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1960 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 5 | £1,803 | 497 - 619 |
| 3+2 | 1 | £3,274 | 1,320 |
1 of 1
Walk Score ®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 448-081-30 | Total Assessment | £2,414,340 |
| Land Assessment | £2,098,740 | Annual Taxes | £37,957 (£9.32/sf) |
| Improvements Assessment | £315,600 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
448-081-30
Land Assessment
£2,098,740
Improvements Assessment
£315,600
Total Assessment
£2,414,340
Annual Taxes
£37,957 (£9.32/sf)
Tax Year
2024
zoning
| Zoning Code | C |
| C |
-
MD Real Estate Inc Dylan Wright -
Conor Brennan
- MD Real Estate Inc
1 of 15
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
MD Real Estate Inc
5064-5066 Niagara Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.