2411 L Street, San Diego, CA 92102
Local realty services provided by:CENTURY 21 Affiliated
2411 L Street,San Diego, CA 92102
$2,450,000
- 1 Beds
- 2 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: maxwell brown
Office: commercial asset advisors
MLS#:PTP2600781
Source:San Diego MLS via CRMLS
Price summary
- Price:$2,450,000
About this home
2411-21 L St provides an investor a well-located partial new construction 10 unit asset + 2 ready to convert ADUs. This is truely a trifecta turnkey, new construction, & value-add combination in Central San Diego priced significantly below market comparables for a quick sale! The property is conveniently located within a 5 minute drive to some of San Diego's most desirable attractions including Petco Park, Downtown San Diego, Coronado Island, San Diego Waterfront, the Gaslamp District, and Balboa Park. The property consists of 6 gut renovated cottages with all new sewer and water supply lines, 4 brand new construction studios with vaulted ceilings, and 2 brand new plumbed and wired garages with plans ready to convert into (2) 2 bed / 1 bath ADUs. The pre-planned garages allow for a significant cost savings on ADU conversation as all infrastructure systems are in place and ready to be tapped. The property produces a strong 11.22 GRM and 5.80% cap rate in current form. The Property can be operated as-is in its strong yield turnkey form for a passive investor. For the active savy investor, the build-out of the pre-approved ADUs will produce a forecasted 9.32 GRM and a 6.78% cap rate including all forecasted construction costs. By completing the ADU build-out the property provides $275k - $325k net equity upside and a $219,000 per unit average cost basis for a semi- new construction asset. That is $60-80k/unit below the comp set average! Post completion value is estimated at $2,900,000 - $2,950,000....
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Home facts
- Listing ID #:PTP2600781
- Added:57 day(s) ago
- Updated:March 29, 2026 at 02:09 PM
Rooms and interior
- Bedrooms:1
- Total bathrooms:2
Finances and disclosures
- Price:$2,450,000
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