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Multifamily

3978 Utah Street

3978 Utah St, San Diego, CA 92104

Listing Price: $3,360,000

Cap Rate
3.81%
Number of Units
8
GRM
16.84
Occupancy
97.0%
Price/Unit
$420,000
Price/Gross SF
$515.26
Gross SF
6,521

Investment Overview

Marcus & Millichap is pleased to present 3978 Utah Street located in San Diego, California. Originally built in 1973, the 8-unit apartment complex is located in the highly desirable neighborhood of North Park and boasts an unbeatable Walk Score of 98. The building measures approximately 6,521 rentable square feet and rests on a 6,981 square foot lot.

The unit mix consists of (5) spacious one bedroom / one bathroom units, (1) two bedroom / one bathroom unit, and (2) large two bedroom / two bathroom units. Current ownership has diligently upgraded the property over the years including dual pane vinyl windows, upgraded electrical system and a variety of interior renovation in 6 of the 8 units. Attractive tenant offerings include: on-site laundry and (8) off-street parking spaces, (4) of which are car ports. Having been well-maintained the property presents to substantially increase rents through continued renovation and more aggressive management.

Located less than a block north of University Avenue and two blocks from 30th Street, the property is within walking distance to all the best North Park has to offer. The property also offers easy access to the 805 freeway simplifying commutes. 3978 Utah Street ultimately presents investors the rare opportunity to acquire a well maintained and improved asset with significant rental upside in one of San Diego’s most desirable rental markets.

Investment Highlights

  • Heart of North Park Location - Within Blocks of University Avenue and 30th Street
  • First Time on Market in Over 30 Years
  • Desirable Unit Mix of Spacious One and Two Bedroom Units
  • Extensive Capital Improvements - Dual Pane Windows and Upgraded Electrical System
  • (8) Off-Street Parking Spaces
  • On-Site Laundry and Gated Entry

Exclusively Listed By

Financing By

Multifamily

3978 Utah Street

Listing Price: $3,360,000

Cap Rate
3.81%
Number of Units
8
GRM
16.84
Occupancy
97.0%
Price/Unit
$420,000
Price/Gross SF
$515.26
Gross SF
6,521

Investment Highlights

  • Heart of North Park Location - Within Blocks of University Avenue and 30th Street
  • First Time on Market in Over 30 Years
  • Desirable Unit Mix of Spacious One and Two Bedroom Units
  • Extensive Capital Improvements - Dual Pane Windows and Upgraded Electrical System
  • (8) Off-Street Parking Spaces
  • On-Site Laundry and Gated Entry

Investment Overview

Marcus & Millichap is pleased to present 3978 Utah Street located in San Diego, California. Originally built in 1973, the 8-unit apartment complex is located in the highly desirable neighborhood of North Park and boasts an unbeatable Walk Score of 98. The building measures approximately 6,521 rentable square feet and rests on a 6,981 square foot lot. The unit mix consists of (5) spacious one bedroom / one bathroom units, (1) two bedroom / one bathroom unit, and (2) large two bedroom / two bathroom units. Current ownership has diligently upgraded the property over the years including dual pane vinyl windows, upgraded electrical system and a variety of interior renovation in 6 of the 8 units. Attractive tenant offerings include: on-site laundry and (8) off-street parking spaces, (4) of which are car ports. Having been well-maintained the property presents to substantially increase rents through continued renovation and more aggressive management. Located less than a block north of University Avenue and two blocks from 30th Street, the property is within walking distance to all the best North Park has to offer. The property also offers easy access to the 805 freeway simplifying commutes. 3978 Utah Street ultimately presents investors the rare opportunity to acquire a well maintained and improved asset with significant rental upside in one of San Diego’s most desirable rental markets.

Exclusively Listed By

Financing By

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