La Jolla CA Commercial for Sale
$4,400,000
344 Prospect Street La Jolla, CA 92037
- Type:
- Mixed Use
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.09 Acres
- Baths:
- MLS#:
- 240027113SD
ADDITIONAL INFORMATION
We are proud to present 344 Prospect, a rare coastal multifamily asset offering 5 apartment homes in one of SoCal’s most desirable sub-markets, ocean views and a very special underutilized roof-top deck. Built in1961, this asset boasts elegant Beverly Hills style split-level construction with exclusive resident privacy, secure access interior hallways, on-site laundry, storage, interior corridor and reinforced rooftop deck with unlimited possibilities. Total building footprint per assessor records is 6,027 with interior living spaces totaling 4,637 after deducting hallways, etc. Units A &B have exterior patios off the rear doors of 162 and 133 square feet respectively (see detailed rent roll). The top floor's two (2) units were converted with permits to a single large 1500+ sq feet penthouse unit (unit E); ideal for an owner occupant or to remodel and rent out at a premium with the roof-top connection. The other units (A-D) have undergone modest interior upgrades over the years; however, opportunity exists to remodel to modern standards and significantly raise rents to luxury level. There is ample street parking along Prospect and La Jolla Blvd with 3 off-street spaces included in the front. The property has an easement in the rear allowing for ingress / ingress to Scripps Lane below and coastal access. 344 Prospect is a once in a lifetime opportunity to purchase a true A+ location with solid value-add opportunity at below $1000 / sq. ft (based on list price). The asset has ~ 15% immediate upside in rental income thru "new" proactive management and modernizing interiors.
- Type:
- Office
- Sq.Ft.:
- 612
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1975
- Baths:
- MLS#:
- NDP2110124
ADDITIONAL INFORMATION
Located in the affluent and internationally known Village of La Jolla, in a highly desirable location with a limited supply of office space. Well suited for owner occupancy with green hillside views, near shops, schools, across the street from the La Jolla Farmer's Market, restaurants & a few minute drive to beautiful sandy beaches. The property features landscaped outside patio area for relaxing and gathering, convenient underground parking, and more. This dynamic location has become a hub for office and medical activity due to neighboring newly constructed medical/office buildings, easy access for neighborhoods, visibility, walkability, and nearby freeways.
La Jolla Real Estate
The median home value in La Jolla, CA is $2,110,000. The national median home value is $338,100. The average price of homes sold in La Jolla, CA is $2,110,000. La Jolla real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a La Jolla real estate agent to arrange a tour today!
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