We are pleased to offer the Villa Del Monica Apartments (the “Property”), located in the highly desired beach community of Ocean Beach, California. The offering presents real estate investors with the rare opportunity to acquire a large, 25 unit, value add real estate asset just two blocks from the beach, along with the potential to increase the current below-market rents. The Property consists of a low maintenance landscaped setting, with a charming interior courtyard, spread out on a large lot totaling 17,914 sq. ft. Originally constructed in 1971, the Property has been well-maintained by the current ownership. Villa Del Monica Apartments consists of 25 units comprised of - one (1) retail space (which has the ability to be turned into a large one-bedroom unit), four (4) studios, twelve (12) one-bedroom / one bathroom, one (1) two-bedroom / one bathroom, one (1) two-bedroom / one and a half bathroom, and six (6) two-bedroom / two-bathroom units. The Property provides tenants with off-street parking (26 parking spaces), laundry facilities, and one of the units includes a balcony. Three-quarter of the units have been lightly upgraded with countertops and cabinets in both the kitchens and bathrooms and flooring throughout. With a Walk Score of 90 ("Walker's Paradise), tenants enjoy being so close to the beach, restaurants, bars, coffee shops, and retail, along with the community feel of the Property.
Courtesy of Bill Anderson, Acre Investment Real Estate
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