4130 35th St - Apartments FOR SALE


San Diego, CA 92104- Corridor
$2,375,000 USD
858-775-9825
4130 35th St, San Diego, CA for Sale
$2,375,000 USD
Apartments - FOR SALE
1/10
null | 6.6% Cap Rate

4130 35th St
San Diego, CA 92104
Corridor


HIGHLIGHTS

  • Central Location - Within Blocks of University Avenue & El Cajon Boulevard
  • Value-Add Opportunity with Significant Upside
  • ALL UNITS VACANT - Ready For Immediate Renovation
  • Desirable Unit Mix of Spacious One and Two Bedroom Units
  • Ample Off-Street Parking & On-Site Laundry Room
  • (2) Double Car Garages - ADU Potential

OVERVIEW

Marcus & Millichap is pleased to present 4130 35th Street located in San Diego, California. Originally built in 1972, the 8-unit apartment complex is centrally located in Cherokee Point bordered by North Park and Normal Heights and boasts a Walk Score of 87. The building measures approximately 5,175 rentable square feet and rests on a 6,249 SF lot. The unit mix consists of (5) one-bedroom / one-bathroom units and (3) two-bedroom /one-bathroom units. Select units feature balconies and enclosed patios. Current ownership has rerouted water supply lines out of the slab and around the exterior of the building for easier access and maintenance. All units are currently vacant, and the property will be delivered vacant allowing an investor to immediately commence renovations and maximize cash flow. Attractive tenant offerings include an on-site laundry room and (8) off-street parking spaces including (2) double car garages which have potential to be converted into ADU(s) for additional cash flow. All units are separately metered for SDG&E reducing operating costs to the owner. Situated between El Cajon Boulevard and University Avenue, the central location benefits from continued gentrification of the surrounding neighborhoods. The property is minutes away from the best attractions in North Park and Normal Heights. The property also offers easy access to the 805 and 15 freeways simplifying commutes. 4130 35th Street ultimately presents investors the rare opportunity to acquire a fully vacant, value-add asset in the path of progress.

FOR SALE DETAILS

PRICE

$2,375,000 USD

PRICE/SF

$456 USD /SF

# OF UNITS

8

PRICE/UNIT

$296,875

CAP RATE

6.6%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

MR15B, San Diego

APN/PARCEL ID

447-320-10

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.