Multifamily

4366-80 Mississippi Street

Listing Price: $6,700,000

Cap Rate
4.06%
Number of Units
16
GRM
16.37
Occupancy
97.00%
Price/Unit
$418,750
Price/Gross SF
$547.39
Gross SF
12,240

Investment Overview

Marcus & Millichap is pleased to present for sale the rare opportunity to acquire a recently renovated and
fully stabilized, 16-unit property. This luxury asset is located in one of San Diegos most lucrative rental markets,
University Heights. Constructed in 1956 and renovated in 2018, this property rests on an approximate 14,000 SF
lot with 12,240 rentable SF.

This property is comprised of two buildings, each on their own separate parcel with 100% two-bedroom / one-bathroom
units. No resident manager is required as each 8-unit building has its own APN. These remodeled units
include brand new interiors with stainless steel appliances, quartz countertops, and contemporary bathrooms.
Exterior renovations include new roofs, signature wood faade, custom designed courtyard and more.

This complex offers the rare opportunity to be the proprietor of a newly renovated, all 2 bedroom property in
one of San Diegos most profitable rental market. University Heights continues to attract the highest quality
and most desired tenant base. With several class A developments being constructed nearby, the demand for
renovated product at a slightly lower rental rate will only continue to grow. Being within walking distance to
many, restaurants, breweries and shops on El Cajon Boulevard, this fully stabilized property is centrally located
with the investors longevity in mind.

Investment Highlights

  • Rare All 2 Bedroom Complex
  • Two Separate Parcels No On-Site Manager Required
  • Full Stabilized Asset at Market Rents Hedge Against Potential Rent Control
  • Large Courtyard with Custom Built BBQ
  • Pride of Ownership University Heights
  • Pitched Roofs with Warranty

Exclusively Listed By

Listing Price: $6,700,000

Cap Rate
4.06%
Number of Units
16
GRM
16.37
Occupancy
97.00%
Price/Unit
$418,750
Price/Gross SF
$547.39
Gross SF
12,240

Investment Highlights

  • Rare All 2 Bedroom Complex
  • Two Separate Parcels No On-Site Manager Required
  • Full Stabilized Asset at Market Rents Hedge Against Potential Rent Control
  • Large Courtyard with Custom Built BBQ
  • Pride of Ownership University Heights
  • Pitched Roofs with Warranty

Investment Overview

Marcus & Millichap is pleased to present for sale the rare opportunity to acquire a recently renovated and
fully stabilized, 16-unit property. This luxury asset is located in one of San Diegos most lucrative rental markets,
University Heights. Constructed in 1956 and renovated in 2018, this property rests on an approximate 14,000 SF
lot with 12,240 rentable SF.

This property is comprised of two buildings, each on their own separate parcel with 100% two-bedroom / one-bathroom
units. No resident manager is required as each 8-unit building has its own APN. These remodeled units
include brand new interiors with stainless steel appliances, quartz countertops, and contemporary bathrooms.
Exterior renovations include new roofs, signature wood faade, custom designed courtyard and more.

This complex offers the rare opportunity to be the proprietor of a newly renovated, all 2 bedroom property in
one of San Diegos most profitable rental market. University Heights continues to attract the highest quality
and most desired tenant base. With several class A developments being constructed nearby, the demand for
renovated product at a slightly lower rental rate will only continue to grow. Being within walking distance to
many, restaurants, breweries and shops on El Cajon Boulevard, this fully stabilized property is centrally located
with the investors longevity in mind.

Exclusively Listed By

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