3151-3157 Adams Ave - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$3,500,000 USD
619-226-6011
3151-3157 Adams Ave, San Diego, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/18
null | 4.38% Cap Rate

3151-3157 Adams Ave
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • All unit interiors and mechanical systems rehabbed 2024
  • Single Level Bungalows (No SB 721 retrofitting Required)
  • 4 Garages detached ( future ADU conversion )
  • Excellent Location - Walk Score 92
  • Future redevelopment potential - complete communities
  • Adjacent property availble to combine with sale

OVERVIEW

We are honored to present this exceptionally 'turn-key' income-generating property that boasts a unique combination of timeless character and modern efficiency. Welcome to 3151-3157 Adams Avenue, a beautifully restored bungalow-style apartment complex, located in the heart of San Diegos Normal Heights* neighborhood. Avoid SB 721 compliance with this single level construction consisting of (8) one bedroom / one bath units, (2) studios, and (4) garages on a spacious 8,300 SF lot. All aspects of the original builders ‘streamline moderne ‘ style have been carefully revitalized and complimented with modern upgrades throughout , including but not limited to all new copper plumbing, ABS sewer lines, new energy efficient (& American made) mini split AC/ Heat systems, tankless water heaters, custom steel work, beautifully restored original hardwood flooring, and preserved art deco accents throughout. Single-level bungalow style construction enhances accessibility and eliminates concerns such as SB721 compliance, making this a low-maintenance and highly desirable property for all. Located in one of San Diego’s most sought-after walkable neighborhoods (Normal Heights & border of North Park, Univeristy heights) , tenants enjoy walkability to local cafes, boutiques, and vibrant nightlife along Adams Avenue.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$923 USD /SF

# OF UNITS

10

PRICE/UNIT

$350,000

CAP RATE

4.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1939

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

CUPD-CU-3-3

APN/PARCEL ID

439-412-05

ASK ABOUT THIS PROPERTY

Brian NelsonSouth Coast Commercial, Inc.More Info
619-226-6011

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Brian NelsonSouth Coast Commercial, Inc.More Info
619-226-6011

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