Mixed-Use Building in Mission Beach Sold and Leased!

February 27, 2022

Mixed-Use Building in Mission Beach Sold and Leased!

3864 Mission Boulevard in Mission Beach

The once dilapidated, now refurbished, mixed-use commercial building located at 3864 Mission Boulevard in Mission Beach has been sold for $1,190,000. The Franco Realty Group represented the Buyer on the transaction. The property includes roughly 1,500 square feet of downstairs retail space and an upstairs one bedroom, one bathroom apartment with access to a large rooftop patio deck. 3864 Mission Blvd once had a lot of deferred maintenance and sat vacant for a couple years, and recently underwent tremendous renovations. The property features an outside wood patio and seating area, and a modernized interior with wood beams, beautiful high ceilings, and new flooring throughout. Furthermore, the building has recently been approved by the Coastal Commission to add on 2 bedrooms and 2 baths.

The Franco Realty Group represented the Buyer of the sales transaction who paid all cash with a quick close of escrow. The Buyer is an investor and The Franco Realty Group was given the task of finding a tenant to lease the downstairs retail space. Within 1 week, The Franco Realty Group managed to find a qualified tenant who plans on opening another boutique clothing store called “Lane’s Collective” – a clothing store that carries trendy and contemporary men’s and women’s apparel, as well as custom jewelry, accessories, handbags, shoes, and more. The tenant The Franco Realty Group found was Canadian investor Elena Savella who purchased the commercial real estate located at 1146-1148 Garnet Avenue that has two retail stores and one dilapidated 2,200 square foot residential apartment in the back. Mrs. Savella and her team has undergone a tremendous amount of rehabilitation on the 2,200 square foot apartment and should be considered one of the top up and coming young professionals in 92109. The Franco Realty Group represented Mrs. Savella on the sale of 1146-1148 Garnet Avenue.

For more information regarding the sale or leased portion of the transaction, please call The Franco Realty Group at (858) 717-1697.