Multifamily

3965-3971 Hamilton St

3965-3971 Hamilton St, San Diego, CA 92104

Listing Price: $3,100,000

Cap Rate
3.61%
Number of Units
10
GRM
16.99
Occupancy
97.00%
Price/Unit
$310,000
Price/Gross SF
$704.55
Gross SF
4,400

Investment Overview

Marcus & Millichap is pleased to present 3965-3971 Hamilton Street, a turnkey 10-unit community located in the North Park neighborhood of San Diego, California. The two-story property is situated on 0.16 acres and is comprised of one (1) studio and nine (9) one-bedroom/one-bathroom units totaling approximately 4,392 square feet.

The subject property has a charming cottage-style layout for most units that is complimented with lush landscaping and tasteful common areas. The property was extensively remodeled inside and out in 2016 with new floors, tile showers and kitchen backsplash, doors, granite counter tops, cabinets, heating/air units, and stainless-steel appliances. Almost all of the windows and plumbing systems have been replaced over the last few years as well.

The subject property is ideally located in the center of North Park, today's epicenter of rent growth in San Diego. Additionally, the property is approximately half a mile from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on University Avenue and 30th Street. As such, the property boasts a walk score of 95 points, considered a Walkers Paradise. Lastly residents also enjoy easy access to Interstate 805 and Highway 163 via University Avenue.

The subject property provides an investor with the rare opportunity to purchase a turnkey and stable investment with over 20% rental upside. The asset is well-positioned for a new owner to capture the high rate of rental growth that North Park has to offer. Offered free-and-clear of debt, allowing investors the opportunity to take advantage of today's historically low interest rates.

Investment Highlights

  • Turnkey Property with over 20% rental upside
  • One block north of University Ave
  • Charming cottage style layout
  • Walkscore of 95, considered a Walkers Paradise
  • Offered free and clear of debt

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
3.61%
Number of Units
10
GRM
16.99
Occupancy
97.00%
Price/Unit
$310,000
Price/Gross SF
$704.55
Gross SF
4,400

Investment Highlights

  • Turnkey Property with over 20% rental upside
  • One block north of University Ave
  • Charming cottage style layout
  • Walkscore of 95, considered a Walkers Paradise
  • Offered free and clear of debt

Investment Overview

Marcus & Millichap is pleased to present 3965-3971 Hamilton Street, a turnkey 10-unit community located in the North Park neighborhood of San Diego, California. The two-story property is situated on 0.16 acres and is comprised of one (1) studio and nine (9) one-bedroom/one-bathroom units totaling approximately 4,392 square feet.

The subject property has a charming cottage-style layout for most units that is complimented with lush landscaping and tasteful common areas. The property was extensively remodeled inside and out in 2016 with new floors, tile showers and kitchen backsplash, doors, granite counter tops, cabinets, heating/air units, and stainless-steel appliances. Almost all of the windows and plumbing systems have been replaced over the last few years as well.

The subject property is ideally located in the center of North Park, today's epicenter of rent growth in San Diego. Additionally, the property is approximately half a mile from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on University Avenue and 30th Street. As such, the property boasts a walk score of 95 points, considered a Walkers Paradise. Lastly residents also enjoy easy access to Interstate 805 and Highway 163 via University Avenue.

The subject property provides an investor with the rare opportunity to purchase a turnkey and stable investment with over 20% rental upside. The asset is well-positioned for a new owner to capture the high rate of rental growth that North Park has to offer. Offered free-and-clear of debt, allowing investors the opportunity to take advantage of today's historically low interest rates.

Exclusively Listed By

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