Description

We are pleased to exclusively present for sale 4605 Voltaire Street, a 5-unit complex in the rarely trading and highly gentrifying Ocean Beach neighborhood of San Diego, California. Composed of a desirable mix of two 2-bedroom / 1-bath units (approximately 900 sf) and three 1-bedroom / 1-bath units (approximately 600 sf), this two-story apartment complex rests just six blocks to the beach and 2 blocks from popular Sunset Cliffs Blvd. Units are very large with some units receiving refinished kitchens, showers and vinyl plank flooring. The building received major improvements in 2018 with new roof, new dual pane windows, electrical panels/main gear in 2023. Railings were also fully updated in January 2023. Countertops include a mix of formica and granite and some units include a mix of vinyl plank flooring and carpet. Original cabinetry and a mix of original and newer appliances allow an investor the upside of fully remodeling all units to highest end finishes. Additional upside could be achieved adding individual washer/dryers, mini-splits, dishwashers and garbage disposals. The building includes shared on-site laundry and six off-street parking spaces. 4605 Voltaire Street enjoys one of the highest demand rental markets in San Diego, making this property appealing to potential renters and buyers. Only three multifamily properties 5 units and above have traded in the Ocean Beach sub-market since January, making this a rare, highly desirable investment. Ocean Beach offers an array of entertainment with shops, restaurants, beaches and attractions all within walking distance. Ocean Beach is one of the closest beach communities to Downtown San Diego that has recently begun a visible transformation with new complexes, residences and stores flourishing across the neighborhood. This property is an excellent investment for the investor seeking an extremely well-located legacy property with significant rental upside in a high barriers-to-entry market.