Property Description
We are pleased to present for sale The Oregon Street Condos, a building comprised of seven (7) condominiums (separate APNs) located in the desirable North Park market of central San Diego. Built in 1981 and extensively renovated in 2019, the subject property is situated on a 7,000 square foot lot. The property is comprised of one (1), three-bedroom/two-bath unit and six (6) two-bedroom/two-bath units totaling approximately 6,182 rentable square feet. The complex consists of one, wood-framed and stucco building, with a concrete slab foundation and pitched and flat roofs. Residents enjoy the on-site parking and garages, controlled access entry, private balconies and patios, and a fireplace in each unit. The interiors have been meticulously renovated with Quartz countertops (select units with waterfall edges), built-in desks in six of the units, new cabinets and modern hardware, stainless steel appliances – refrigerator, range, hood and dishwasher, fixtures, washers and dryers, walk-in closet in the master bedroom, laminate flooring, tile fireplace surrounds, doors, blinds, ceiling fans, and lighting. The exterior has received an updated elevation with a fresh color scheme, new balconies, garage doors, windows, patio doors, gates, lighting, and drought-tolerant landscaping, and modern hardscape. The offering is an opportunity for an investor to purchase a stabilized asset in an irreplaceable location. An acute investor will also enjoy the security of operating this asset as an apartment complex with the future exit strategy of selling each unit individually.