Sold
1451-59 University Ave
Mission Hills CA, 92103
$4,000,000
Sold
Commercial
***Attractive Seller Financing Now Available. 5.5% INTEREST ONLY Payments Fixed for 7 Years*** These retail buildings located in the center of Hillcrest, at 1451-59 University Avenue, are now up for sale. It consists of 10,799 square feet of structure on a 12,894 square foot lot. There are two retail spaces which underwent major renovations in 2019. These improvements included new roofs, vinyl plank flooring, inside and outside painting, an ADA ramp, a brand new fence, seal and striping of the parking lot, two bathrooms (one ADA compliant), HVAC and new lighting. Moreover, it is situated in Complete Communities Tier 2 with a FAR of 8.0 and also features CC 3-8 zoning. The first tenant is a restaurant which holds 1,250 square feet and signed a five year lease on October 1st, 2019. There are two five year options to extend at a mutually agreeable market rate. The second tenant, a thrift store, has 6,216 square feet on the ground floor and an additional 3,333 square feet of mezzanine space on the second floor. This tenant contracted a ten year lease with two five year extensions on March 1st, 2019 that contain 2% annual increases. Both tenants cover the costs of electricity, water, sewer, and garbage while the owner is responsible for taxes, insurance, roof, and structure. This is a tremendous chance to own a retail building in the desirable area of Hillcrest.
230002596
MLSⓇ ID
February 9, 2023
Listed
November 23, 2024
Updated
Map
1451-59 University Ave
Mission Hills CA, 92103
Other Property Details
Area Name
Metro Uptown
Days on Market
52
Garage
No
View
No
County
San Diego
Pool
No
Zoning
CC 3-8
Listing History
Date | Event | Price |
---|---|---|
5/12/2023 | Price change | $4,000,000 -6% |
5/12/2023 | Sold | $4,000,000 |
4/27/2023 | Pending | — |
Listed by South Coast Commercial, Inc., Cody J Evans,
Listing Contact: 858-729-3094
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright.
© 2024 San Diego Multiple Listing Service. All rights reserved.
Data last updated 12:08 AM UTC, 11/23/2024