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Cyrus & Emilia Investments Acquires Mixed-Use Building In San Diego's Gaslamp Quarter For $2.55M

Property Image
SOLD
$2,550,000

California

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Mixed-use14,503 SF
Sold 04/28/2023
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Property Image
SOLD

Cyrus & Emilia Investments Acquires Mixed-Use Building In San Diego's Gaslamp Quarter For $2.55M

534 Fifth Ave San Diego, CA 92101, USA

See Similar Deals
Mixed-use14,503 SF
Sold 04/28/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$175
Total Square Footage:14,503 SF
Transaction Type:Sale

Cyrus & Emilia Investments has purchased the Lincoln Hotel, a mixed-use building in the Gaslamp Quarter of San Diego, for $2.55 million. The property, located at 534-536 5th Ave., consists of El Cabron Restaurant on the ground floor and 41 affordable housing units on the upper levels. The buyer plans to renovate the affordable housing portion of the building.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,550,000
  • Square Footage: 14,503 SF
  • Price per Square Foot: $176
  • Address: 534-536 5th Ave, San Diego
  • Market: San Diego

Bill Shrader from Urban Property Group (UPG) represented the buyer, Cyrus & Emilia Investments, in this deal.

Players

Bill Shrader
Urban Property Group
Bill Shrader
1 deal$2.6M volume
BROKER

Details

SOLD
IMAGE: Bill Shrader DATE: 04/28/2023 ADDRESS: 534-536 5th Ave MARKET: San Diego ASSET TYPE: Mixed-use BUYER: Cyrus & Emilia Investments BROKER: Bill Shrader - Urban Property Group SALE PRICE: $2,550,000 SF: 14,503 ~ PPSF: $176 NOTE: Urban Property Group (UPG) has brokered the sale of the Lincoln Hotel, a mixed-use building in the Gaslamp Quarter, for $2.55 million. The property, located at 534-536 5th Ave., features El Cabron Restaurant on the ground floor and 41 affordable housing units above, and the buyer, Cyrus and Emilia Investments, intends to renovate the affordable housing portion of the building.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,059.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,088.30
Annual Debt Service$145,059.61