3874 Riviera Drive

San Diego, CA 92109

$5,998,000
Price
8
Beds
8
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Refreshed and improved! Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This...Refreshed and improved! Incredible once-in-a-lifetime opportunity to acquire a six-unit trophy property directly on the sand in Sail Bay. The property exudes the pride of ownership, meticulously maintained over the last 18 years. The main unit boasts water views from every main living area, tons of natural light, 4 bedrooms and 2.5 bathrooms. Plenty of entertainment space with multiple balconies, patio, grass space, 3 living rooms/ family rooms and direct sand access to enjoy water activities. This one-of-a-kind property also includes (1) 2 bed/2.5 bath and (4) 1 bed/1 bath units, currently rented below market value rents. There is potential to increase the NOI by bringing all rents to market rates. The main 4 bed/2.5 bath unit is an extremely successful vacation rental, continuously booked year-round. Additional income from the laundry machines on the property. Each unit is individually metered for electricity, with a new roof installed in 2021. This property has been self-managed for the last 18 years by the current owners, ensuring exceptional care. This rare offering presents a unique opportunity to add a highly sought-after asset to your commercial real estate portfolio. Don't miss out on this chance to acquire a well-maintained property in a prime location.
  1. Listed by Jim McInerney • DRE #01334502 • Brokerage DRE #01174947 • eXp Realty of Southern California, Inc.
  2. Listed by Cade Silva • DRE #02008551 • Brokerage DRE #01174947 • eXp Realty of Southern California, Inc.

Property Details for 3874 Riviera Drive

Cross Streets
La Playa
Area
Pacific Beach (PAB)
Lot Size Area
8187
HOA Fee Frequency 1
Monthly
HOA Fee 2
$0
HOA Fee Frequency 2
Monthly
Assessor Parcel Number
423-410-07-00
Directions
Use GPS

Location

Listing Courtesy of eXp Realty of Southern California, Inc., Jim McInerney, DRE #01334502; eXp Realty of Southern California, Inc., Cade Silva, DRE #02008551
Add your commute
LISTING UPDATED: 04/29/2024 11:08 AM

Property Details for 3874 Riviera Drive

StatusActive
MLS #240007371SD
Days on Market24
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1970
Lot Size0.19 AC / 8,187 SF
CountySan Diego County

Location

Listing Courtesy of eXp Realty of Southern California, Inc., Jim McInerney, DRE #01334502; eXp Realty of Southern California, Inc., Cade Silva, DRE #02008551
Add your commute

Building Information for 3874 Riviera Drive

Stories2Residences-Year Built1970Building Size-Lot Size0.19 AC / 8,187 SF

Payment Calculator

$32,734 per month

30 year fixed, 7.25% Interest

Principal and Interest

$32,734

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3874 Riviera Drive

Community / Development
Community / Development
  • Complex Name: Sail Bay
  • Number Of Units: 6
  • Amenities: Laundry Facilities
  • Association Fees Include: N/K
  • Builders Tract Name: Sail Bay
  • Earth Quake Insurance: 0
Structure Info
Structure Info
  • Number Of Stories: 2
  • View: Yes
  • View Description: Bay, Ocean
  • Security Features: None
  • Water: Meter on Property
  • Sewer: Sewer Connected
Contract Info
Contract Info
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Net Operating Income: $.00
  • Gross Scheduled Income: $352,416
  • Cap Rate: 2.73%
  • Gross Rent Multiplier: $17.86
  • Other Income1: $.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Horse: No
  • Land Included: No
  • Lot Location: Ocean
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Central Forced Air
  • Heating Type: Forced Air, Natural Gas
Exterior Features
Exterior Features
  • Pool: No
  • Spa: No
  • Roof: Composition
  • Fence: Gate
Lease Terms
Lease Terms
  • Listing Terms: Cash, Conventional, Exchange
  • Tenant Pays: Electricity

Property History for 3874 Riviera Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3874 Riviera Drive

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Crown Point Jr Music Academy
PublicK to 5

Pacific Beach Middle School
Public6 to 8

Mission Bay High School
Public9 to 12

Barnard Elementary School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3874 Riviera Drive is a multi-family home for sale in San Diego, CA 92109. This property was listed for sale on April 4, 2024 by eXp Realty of Southern California, Inc., it's currently listed at $5,998,000. This listing's school district is San Diego Unified School District. Nearby schools include Crown Point Jr Music Academy, Pacific Beach Middle School and Mission Bay High School. 3874 Riviera Drive is a 8-bed, 8-bath, multi-family home built in 1970.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of eXp Realty of Southern California, Inc., Jim McInerney, DRE #01334502; eXp Realty of Southern California, Inc., Cade Silva, DRE #02008551

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