2621 Monroe Ave - Apartments FOR SALE


San Diego, CA 92116- North Park
$2,600,000 USD
858-761-2529
2621 Monroe Ave, San Diego, CA for Sale
$2,600,000 USD
Apartments - FOR SALE
1/10
null | 3.1% Cap Rate

2621 Monroe Ave
San Diego, CA 92116
North Park


HIGHLIGHTS

  • Rare opportunity to acquire a value-add asset in a high barrier to entry market
  • Desirable unit mix, with 88% of the units being spacious 2-bedroom apartments
  • Easy access to Tier-1 employment hubs of Mission Valley, and Downtown San Diego via Interstate-805 and Route 163
  • Boasts a walk score of 94 which is classified by walkscore.com as a “Walker’s Paradise”
  • Proximate transit hubs provide residents ease of access to jobs, education, public facilities, restaurants, vibrant nightlife, parks

OVERVIEW

We are pleased to present 2621-27 Monroe Avenue which is situated in the highly regarded University Heights neighborhood of San Diego, CA. This 8-unit property includes one (1) one-bedroom/one-bath unit and seven (7) two-bedroom/two-bathroom units. Nestled west of Interstates 805 and bordered by Mission Valley to the north and Hillcrest to the west, University Heights is known for its vibrant culinary scene, lively bars, and unique thrift stores. This makes it a highly attractive area for renters. The property presents a rare opportunity for investors aiming to capitalize on the growth and demand in one of San Diego's prime rental markets. The central location and dynamic community of University Heights ensure strong demand for rental units, with strategic renovations and upgrades offering considerable potential to elevate the property's value and achieve market-standard rental rates. 2621-27 Monroe Avenue is a compelling investment opportunity in a thriving neighborhood. Its prime location and vibrant community make it attractive to both renters and investors. This property offers a promising chance to invest in a flourishing market, with substantial returns possible through strategic enhancements and management.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$373 USD /SF

# OF UNITS

8

PRICE/UNIT

$325,000

CAP RATE

3.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

-

APN/PARCEL ID

445-251-30

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.