$3,675,000

Pleased to present 2909 Boston Ave, a fully renovated asset in the art-centric and vibrant community of Barrio Logan. In 2016, the asset received full renovations including vinyl flooring, shaker cabinets, updated black appliances, fresh exterior facade & stucco, doors, concrete flatwork, and exterior lighting. The asset is currently operated on a Master Lease to Mental Health Systems. MHS is a non-profit operated by The County of San Diego to provide stable housing and supportive services to locals residents while also providing the landlord with government backed and guaranteed rents. Boston Ave is forecasted to provide an investor with a strong and vast tenant base, low vacancy, low expenses and ultimately a strong yield with easy operations in a rarely traded submarket of San Diego. Master Lease rent increase available 1/1/2024 to yield a 5.32% cap rate. Alternatively, the Master Lease can be terminated and the building can be operated as individual market rate rentals for a 5.67% cap rate.