4119-4123 Kansas St - Apartments FOR SALE


San Diego, CA 92104- North Park
$2,975,000 USD
858-775-9825
4119-4123 Kansas St, San Diego, CA for Sale
$2,975,000 USD
Apartments - FOR SALE
1/16
null | 4.09% Cap Rate

4119-4123 Kansas St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Central North Park Location - Proximity to 30th Street and University Avenue
  • All Units Renovated in 2020
  • Attractive Unit Mix of Majority Two Bedrooms
  • Permits for (3) Garage Conversion ADUs - Proforma Cap Rate 6.55%
  • Gated Entry & On-Site Laundry
  • (3) Single Car Garages & (4) Tandem Parking Spaces

OVERVIEW

Marcus & Millichap is pleased to present The Vero located at 4119-23 Kansas Street in San Diego, California. Originally constructed in 1960, the 6-unit apartment complex is located in the highly desirable neighborhood of North Park and boasts a Walk Score of 98. The building rests on a 5,242 square foot lot and has approximately 4,750 in rentable square feet. The unit mix consists of: (1) three bedroom / two bathroom unit, (4) two bedroom / one bathroom units, and (1) studio unit. Attractive tenant offerings include: secure gated entry, in-unit laundry for (1) unit, on-site laundry, (3) garages, and (4) off-street tandem parking spaces. Having been recently renovated in 2020 with new custom cabinetry, countertops, stainless steel appliances, and more, the property is in prime turn-key condition. There are also approved plans and permits for (3) studio ADUs for an investor looking to further increase overall cash flow; they are construction-ready with the garages having been demolished. Situated only one block from 30th Street and two blocks from El Cajon Boulevard and University Avenue, the property is within walking distance to all the best North Park has to offer; the property also enjoys proximity to the 805 freeway. The Vero ultimately presents investors the unique opportunity to acquire a turn-key apartment building with significant rental upside in one of San Diego's most desirable neighborhoods.

FOR SALE DETAILS

PRICE

$2,975,000 USD

PRICE/SF

$626 USD /SF

# OF UNITS

6

PRICE/UNIT

$495,833

CAP RATE

4.09%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Vero

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,160 SF

ZONING

RM-3-7

APN/PARCEL ID

446-303-08

ASK ABOUT THIS PROPERTY

Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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