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Multifamily

4525 35th St

4525 35th St, San Diego, CA 92116

Listing Price: $1,200,000

Cap Rate
3.72%
Number of Units
3
Occupancy
100.0%
Price/Unit
$400,000

Investment Overview

Marcus & Millichap is pleased to present for sale this Ad Value investment opportunity in the very desirable rental community of San Diego known as Normal Heights. Available are 3 Garden Style apartment units which are broken down as a 2BR/1Bath House and a 2- story duplex that includes a 2BR/1Bath and a2BR/2Bath. There is plenty of parking in the rear of the property. The 2BR house has laundry inside the unit and there is an unused laundry room in the rear duplex. A new investor should be able to Ad Value by renovating the units and raising rents to market thus increasing the return on their investment. Rents are currently 15-20% below market compared to other nearby renovated units. Normal Heights is a lively residential area with many hip cafes, gastropubs, craft beer bars, and diverse restaurants, especially along Adams Avenue. The neighborhood is also known for concerts in grassy Trolley Barn Park as well as outdoor movie screenings at Ward Canyon Park, which also has play areas and walking paths. The nearby University Heights area offers Asian, Mexican, and Ethiopian eateries.

Investment Highlights

  • Add Value Opportunity
  • Excellent Owner-Occupied Investment
  • Attractive Unit Mix with All 2Brs
  • Stable Normal Heights-San Diego Rental Market

Exclusively Listed By

Listing Price: $1,200,000

Cap Rate
3.72%
Number of Units
3
Occupancy
100.0%
Price/Unit
$400,000

Investment Highlights

  • Add Value Opportunity
  • Excellent Owner-Occupied Investment
  • Attractive Unit Mix with All 2Brs
  • Stable Normal Heights-San Diego Rental Market

Investment Overview

Marcus & Millichap is pleased to present for sale this Ad Value investment opportunity in the very desirable rental community of San Diego known as Normal Heights. Available are 3 Garden Style apartment units which are broken down as a 2BR/1Bath House and a 2- story duplex that includes a 2BR/1Bath and a2BR/2Bath. There is plenty of parking in the rear of the property. The 2BR house has laundry inside the unit and there is an unused laundry room in the rear duplex. A new investor should be able to Ad Value by renovating the units and raising rents to market thus increasing the return on their investment. Rents are currently 15-20% below market compared to other nearby renovated units. Normal Heights is a lively residential area with many hip cafes, gastropubs, craft beer bars, and diverse restaurants, especially along Adams Avenue. The neighborhood is also known for concerts in grassy Trolley Barn Park as well as outdoor movie screenings at Ward Canyon Park, which also has play areas and walking paths. The nearby University Heights area offers Asian, Mexican, and Ethiopian eateries.

Exclusively Listed By

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