Pending

870 Diamond

San Diego CA, 92109

$11,850,000


Pending

Commercial

Listed by Joseph Burrough with Palma Commercial 858-352-6742

Pleased to offer for sale, for the first time ever since its construction, 870 Diamond Street, a 22 unit apartment property located just 2 blocks from the beach in desirable Pacific Beach, within its coveted northwest quadrant. Attractive Seller Financing is offered with this sale. Built in 1972, held and meticulously maintained by the same family as its original architect and developer (Henry F. Bugenhagen) for over fifty years since, this is a very rare opportunity. The unit mix consists of: 13 x 1Br/1Ba units; 3 x 1Br/1.5Ba units; and 6 x 2Br/2Ba units, each with its own generously sized private patio or balcony, some with peek ocean views. There are twenty two (22) off-street parking spaces, six of which are covered. Many units have been updated with vinyl plank flooring in kitchens and bathrooms, newer cabinetry, quartz countertops, and newer white appliances (incl. dishwasher). The building is serviced by a central elevator, two stairwells, and there are multiple controlled access ground floor entry points. Each floor (3) has its own laundry room with owned equipment. Interior hallways have a fire monitoring system and fresh air duct system. Electricity for the building is separately metered, while gas is on a master meter that powers the central recirculating boiler and hot water tank. Building upgrades over the past 12 years include: 'low E' glass, dual-pane vinyl windows and sliders throughout (2024); newer stairway landings, concrete steps and railings; resurfaced stucco and exterior paint; full elevator upgrade with new elevator equipment; new central boiler (2024); newer exterior common area lights; and installation of perimeter drought tolerant landscaping. The property benefits from much higher density than what current zoning would allow to be permitted today, by virtue of its previously conforming use, prior to the immediate area being down-zoned in the 1980s. Currently zoned RM-1-1, only 4 dwelling units would be permittable by right at this site presently.

240012492SD

MLS ID

June 3, 2024

Listed

July 14, 2024

Updated

Map

870 Diamond
San Diego CA, 92109

Interior Features

Fireplace

No


Cooling

Yes


Heating

Yes


Heating Description

Radiant

Exterior/Building Features

Lot Size

0.29 Acres


Roof

Tar/Gravel

Other Property Details

Area Name

92109 - Pacific Beach


Days on Market

18


Garage

No


Parking Total

22


View

No


County

San Diego


Pool

No


Zoning

RM-1-1


Buyer Agency Compensation

1.5%

Listing History

Date

Event

Price

6/22/2024

Pending

Listing Contact: 858-352-6742 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/14/2024 at 6:17 AM UTC

 

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