Property Description
The Anderson Group is pleased to present Broadway Lights (the “Property”), a charming multi-family property located in Golden Hill in San Diego, California. The offering presents real estate investors the opportunity to acquire a turn-key stabilized real estate asset that has been professionally managed and meticulously renovated with modern finishes. The property is being offered free and clear of debt encumbrances.
The Property consists of 7 units which are situated on a 7,029 square foot lot. There is enough space to add an accessory dwelling unit (ADU) to a large, unused laundry room, which is not needed due to each unit having a washer and dryer, which would increase rental income and add further value to the asset. The Property was built in 1972 but was extensively renovated in 2014-2015 and is well-maintained by the current ownership.
Broadway Lights is comprised of two (2) one-bedroom / one-bath, two (2) two-bedroom / one bath, one (1) three-bedroom / one bath, and two (2) three-bedroom / 2 bath units. The Property provides tenants with electronic gated secure off-street parking.
The renovation of the property consisted of both the exterior of the building and the interiors of the units. The exterior renovations include – branding signage, paint, a new roof, windows, catwalk, stairs, and railing, along with an electric gate that allows access to parking and added security. The interiors were appointed with – washers and dryers in each unit, new cabinets, quartz countertops, appliances including – refrigerators, ranges, dishwashers, and built-in microwave, paint, tile backsplash, fixtures, sinks, plumbing, and a new water heater. In addition, laminate vinyl plank flooring was added with new baseboards throughout. The showers have tile enclosures in a fresh neutral color. New light fixtures, recessed lighting, ceiling fans, double-mirrored closets, window coverings, and interior doors.