$5,425,000

1948 Emerald Street is an 8-unit investment asset located in highly desirable Pacific Beach, San Diego, available on the market for the first time in over 30 years. The property is a rare 1980's building with all 2 BD/2 BA units (bathtub in each bathroom) with front and back patios that offer luxurious resort beach enjoyment for any weather. There are 16 parking spaces (8 tandem spaces) on an oversized lot of 9,500 square feet, as well as on-site laundry facility. The property has been owner-managed for 30+ years. Half of the units have been beautifully renovated with brand new kitchens, comprised of quartz counter tops, brand new cabinets, new sink/, faucets and much more . Many units have plenty of recessed lighting, modern hard flooring throughout, fully redone bathrooms with new vanities and sinks as all units encompass full bathtubs in each bathroom. Units are located in separate wings with private entry ways and lots of open bright natural light inside each unit. All tenants are diligently prescreened with high salary jobs to promote longevity and guaranteed long term income. 1948 Emerald Street is located in one of the most desirable rental markets in San Diego, just a sleeve away from La Jolla. Residents are willing to pay a premium to live in Pacific Beach, where they can enjoy the quintessential Southern California lifestyle. In addition to convenient access to the Pacific Ocean, the neighborhood offers copious outdoor recreational options and an active and dynamic resort style scene. With breakthrough biotech, healthcare, software, defense, clean tech and aerospace industries, the San Diego region has one of the most dynamic economies in the country. Pacific Beach is in close proximity to the major employment and education hubs throughout the area, such as UC San Diego and its University Town Center, and the Sorrento Valley, home to many of the world's most prominent trailblazers in the biotech, high-tech and telecom sectors. 1948 Emerald Street offers a new buyer the opportunity to own a rare generational asset in one of the premier high growth rental locations in the country. Please check with agent for the accuracy of the MLS information related to this listing.