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$3,199,000
Est. payment /mo
11 Beds
7 Baths
4,206 SqFt
UPDATED:
12/05/2024 02:26 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,206 sqft
Price per Sqft $760
MLS Listing ID 24455505
Bedrooms 11
HOA Y/N No
Year Built 1986
Lot Size 7,021 Sqft
Property Description
Presenting an exceptional investment opportunity with a 5.1% Cap Rate in the highly desirable North Park area of San Diego. Located just three blocks from Morley Field and Balboa Park, this 4,710-square-foot, six-unit multifamily building offers tenants convenient access to a wide range of amenities, including tennis courts, a dog park, and expansive athletic facilities all within walking distance. This fully occupied, well-maintained property features two 1-bedroom, 1-bath units; three 2-bedroom, 1-bath units; and one 3-bedroom, 2-bath unit. It also features four 1-car garages, 6 uncovered parking spots, and ample off-street parking, a rare find in this neighborhood. Recent updates include upgraded kitchens and refreshed landscaping minimizing maintenance costs and maximizing return on investment. The spacious and thoughtfully designed units are in great condition, attracting quality tenants and offering robust rental income potential. Positioned in the heart of North Park, one of San Diego's trendiest and most vibrant neighborhoods, this property benefits from its proximity to popular local attractions, shopping, and dining hotspots. Residents can enjoy renowned restaurants like The Smoking Goat, Urban Solace, and Tribute Pizza, along with entertainment venues such as the Observatory North Park. The area's thriving business scene and diverse cultural offerings add to its appeal, making it a prime location for investors seeking long-term growth and steady cash flow. With its central location, strong tenant appeal, and potential for appreciation, this property is an ideal addition to any multifamily real estate portfolio. Don't miss out on the chance to invest in one of San Diego's most in-demand and dynamic neighborhoods, where a combination of art, culture, and commerce creates an environment poised for continued growth.
Location
State CA
County San Diego
Area 92104 - North Park
Zoning RM-1-1
Interior
Interior Features Ceiling Fan(s)
Heating Forced Air
Cooling None
Fireplace No
Appliance Dishwasher, Refrigerator
Exterior
Parking Features Driveway, Private, Shared Driveway, On Street
Garage Spaces 4.0
Garage Description 4.0
Attached Garage Yes
Total Parking Spaces 11
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4530213000
Special Listing Condition Standard
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Listed by Brandon Meneses • The Beverly Hills Estates