Listing provided courtesy of Terry Moore of Apartment Consultants Incorporated. Last updated 2024-12-21 09:43:13.000000. Listing information © 2024 Sandicor.
Asking Price: $7,005,000
2481 Ulric St, San Diego CA 92111
Community: 92111 - Linda Vista
This Commercial/Residential property was built in 0 and is priced at $7,005,000. Please see the additional details below.
JUST REDUCED! Senior complex for 62+ and disabled residents. The existing conditional use permit will convey with the sale. There are no additional restrictions on rental income, other than standard CA rent control law. There is the possibility of adding 3 ADUs. There is a 320 SF recreation room. Large communal grassy yard. There have been two new construction developments in the last five years within three blocks of subject property; one on Fulton and one on Ulric. USD has made many improvements to their campus in the last decade, which has had a cascade affect improving the zip code. Walking distance to public transportation, a supermarket, other shopping, dining and services. Two 1/1 apartments are being used by the resident manager as a 2/2. Seller assumes that a door could be reinstalled to restore the two 1/1 units. One mortgage broker says it is possible to obtain a 6% interest only loan with a 1.15 debt coverage ratio: $3,685k downpayment and a $3,320k loan amount.
