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Multifamily

4777 35th St

4777 35th St, San Diego, CA 92116

Listing Price: $2,200,000

Cap Rate
4.42%
Number of Units
3
GRM
16.52
Occupancy
100.0%
Price/Unit
$733,333
Price/Gross SF
$958.19
Gross SF
2,296

Investment Overview

We are pleased to present the opportunity to acquire 4777 35 Street, a newly constructed 3-unit multi-residential asset, located in the highly desirable Normal Heights neighborhood of San Diego, California, a very lively residential area with many hip cafes, gastropubs, craft beer bars and diverse restaurants. The property features an attractive and diverse range of improvements, including a beautifully renovated detached residence with a private yard that fronts 35th Street, and two newly constructed townhome-style units that boast luxurious and contemporary design.
The unit mix is comprised of 2 two-bedroom / one-bathroom townhome style floorplans averaging 821 square feet with 111 square feet of balcony space for each unit and 1 two-bedroom / one-bathroom detached residence measuring 782 square feet. The detached unit has undergone extensive renovations, featuring high quality fixtures, finishes, and a color palette that comes together perfectly with the newly constructed townhomes. The 2-story townhome design presents 17-foot lofted ceilings, utilizes space efficiently, maximizing common area and functionality. Interiors feature an abundance of natural sunlight and are very well-appointed with premium designer elements, including granite countertops, wood cabinetry, stainless steel appliances with gourmet range, vinyl plank flooring, tile bathtub and shower enclosures, private balconies, ample closet space, recessed lighting, ceiling fans, split level HVAC systems, and in-unit washers and dryers. The detached residence features a large fenced and gated front yard, and all units share a large community patio and ample off street parking.
The highly sought after neighborhood of Normal Heights is an eclectic close-knit community with distinct character, both economically and ethnically diverse, with cool and younger residents than surrounding neighborhoods. This neighborhood has been seeing rapid growth over the past year and is becoming one of the most coveted locations for renters. The residents take pride in supporting its local businesses, cafes, antique shops, music festivals, and entertainment venues. Wedged among three freeways, Normal heights is very central, with easy access to downtown San Diego (a Tier-1 employment center) in 15 minutes, and the San Diego Airport, and beach, can be reached in only 10 minutes.

Investment Highlights

  • Luxury turnkey investment featuring fully renovated and newly constructed units in an extremely desirable location north of Adams Ave
  • Boasts a unit mix comprised entirely of 2-bedroom units, including townhome-style floorplans and a detached residence
  • Interiors are appointed with premium designer fixtures and finishes; amenitized with in-unit washers and dryers, split-level HVAC systems, and private front yards or private balconies in select units
  • Over 60% of the units are exempt from rental controls (AB-1482)
  • The site location is a "Walker's Paradise," with a Walk Score of 92 daily errands to not require a car and residents enjoy immediate access to countless restaurants, cafes, parks, bars, and boutiques
  • Strategic location provides quick access to Interstate 805 & 15, Mission Valley, and Downtown San Diego (a Tier-1 employment center)

Exclusively Listed By

Financing By

Multifamily

4777 35th St

Listing Price: $2,200,000

Cap Rate
4.42%
Number of Units
3
GRM
16.52
Occupancy
100.0%
Price/Unit
$733,333
Price/Gross SF
$958.19
Gross SF
2,296

Investment Highlights

  • Luxury turnkey investment featuring fully renovated and newly constructed units in an extremely desirable location north of Adams Ave
  • Boasts a unit mix comprised entirely of 2-bedroom units, including townhome-style floorplans and a detached residence
  • Interiors are appointed with premium designer fixtures and finishes; amenitized with in-unit washers and dryers, split-level HVAC systems, and private front yards or private balconies in select units
  • Over 60% of the units are exempt from rental controls (AB-1482)
  • The site location is a "Walker's Paradise," with a Walk Score of 92 daily errands to not require a car and residents enjoy immediate access to countless restaurants, cafes, parks, bars, and boutiques
  • Strategic location provides quick access to Interstate 805 & 15, Mission Valley, and Downtown San Diego (a Tier-1 employment center)

Investment Overview

We are pleased to present the opportunity to acquire 4777 35 Street, a newly constructed 3-unit multi-residential asset, located in the highly desirable Normal Heights neighborhood of San Diego, California, a very lively residential area with many hip cafes, gastropubs, craft beer bars and diverse restaurants. The property features an attractive and diverse range of improvements, including a beautifully renovated detached residence with a private yard that fronts 35th Street, and two newly constructed townhome-style units that boast luxurious and contemporary design. The unit mix is comprised of 2 two-bedroom / one-bathroom townhome style floorplans averaging 821 square feet with 111 square feet of balcony space for each unit and 1 two-bedroom / one-bathroom detached residence measuring 782 square feet. The detached unit has undergone extensive renovations, featuring high quality fixtures, finishes, and a color palette that comes together perfectly with the newly constructed townhomes. The 2-story townhome design presents 17-foot lofted ceilings, utilizes space efficiently, maximizing common area and functionality. Interiors feature an abundance of natural sunlight and are very well-appointed with premium designer elements, including granite countertops, wood cabinetry, stainless steel appliances with gourmet range, vinyl plank flooring, tile bathtub and shower enclosures, private balconies, ample closet space, recessed lighting, ceiling fans, split level HVAC systems, and in-unit washers and dryers. The detached residence features a large fenced and gated front yard, and all units share a large community patio and ample off street parking. The highly sought after neighborhood of Normal Heights is an eclectic close-knit community with distinct character, both economically and ethnically diverse, with cool and younger residents than surrounding neighborhoods. This neighborhood has been seeing rapid growth over the past year and is becoming one of the most coveted locations for renters. The residents take pride in supporting its local businesses, cafes, antique shops, music festivals, and entertainment venues. Wedged among three freeways, Normal heights is very central, with easy access to downtown San Diego (a Tier-1 employment center) in 15 minutes, and the San Diego Airport, and beach, can be reached in only 10 minutes.

Exclusively Listed By

Financing By

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