Multifamily

3424-34 Monroe St

3424-34 Monroe St, Carlsbad, CA 92008

Listing Price: $2,950,000

Cap Rate
3.81%
Number of Units
8
GRM
16.75
Occupancy
97.00%
Price/Unit
$368,750
Price/Gross SF
$452.18
Gross SF
6,524

Investment Overview

Marcus & Millichap is pleased to present for sale two contiguous 4-plexes in the highly desirable neighborhood of Carlsbad. Resting on a 15,726 SF lot, there is 6,524 rentable SF comprised of (8) two-bedroom/one-bathroom units.

3424 & 3434 Monroe Street offers investors the unique opportunity to acquire a value-add asset in a rarely traded neighborhood. The cottage style 4-plexes feature coin operated laundry, 8 covered carport parking spaces, a communal courtyard, and an abundance of storage space. This asset can be renovated to maximize cash flow or continue to be well maintained and operate as is.

Carlsbad is one of San Diego Countys most desirable cities to live in. It is home to some of Californias most famous beaches, top rated schools, attractions, and restaurants. This coastal community attracts high quality tenants that will continue to keep vacancy rates low and rent increases steady. Being within walking distance to Carlsbad High School, this property is well positioned with the investors longevity in mind.

Investment Highlights

  • All 2-Bed/1-Bath Units
  • Value Add Under Market Rents
  • Two 4-Unit Parcels
  • 30 Year Fixed Financing Options
  • Large Lot Approximately 16k SF

Exclusively Listed By

Listing Price: $2,950,000

Cap Rate
3.81%
Number of Units
8
GRM
16.75
Occupancy
97.00%
Price/Unit
$368,750
Price/Gross SF
$452.18
Gross SF
6,524

Investment Highlights

  • All 2-Bed/1-Bath Units
  • Value Add Under Market Rents
  • Two 4-Unit Parcels
  • 30 Year Fixed Financing Options
  • Large Lot Approximately 16k SF

Investment Overview

Marcus & Millichap is pleased to present for sale two contiguous 4-plexes in the highly desirable neighborhood of Carlsbad. Resting on a 15,726 SF lot, there is 6,524 rentable SF comprised of (8) two-bedroom/one-bathroom units.

3424 & 3434 Monroe Street offers investors the unique opportunity to acquire a value-add asset in a rarely traded neighborhood. The cottage style 4-plexes feature coin operated laundry, 8 covered carport parking spaces, a communal courtyard, and an abundance of storage space. This asset can be renovated to maximize cash flow or continue to be well maintained and operate as is.

Carlsbad is one of San Diego Countys most desirable cities to live in. It is home to some of Californias most famous beaches, top rated schools, attractions, and restaurants. This coastal community attracts high quality tenants that will continue to keep vacancy rates low and rent increases steady. Being within walking distance to Carlsbad High School, this property is well positioned with the investors longevity in mind.

Exclusively Listed By

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