3553 Landis St - Apartments FOR SALE


San Diego, CA 92104- Cherokee Point
$2,080,000 USD
858-373-3196
3553 Landis St, San Diego, CA for Sale
$2,080,000 USD
Apartments - FOR SALE
1/16
null | 4.26% Cap Rate

3553 Landis St
San Diego, CA 92104
Cherokee Point


HIGHLIGHTS

  • 92104 Zip Code. Private Canyon Like Setting.
  • Four 3BR/2Bath Units
  • Built in 1987
  • Qualifies for High Leveraged 30 Yr Fixed Residential Financing
  • .21 ACRE Flat Lot should allow for Development of 2 Additional ADUs

OVERVIEW

The Landis Canyon apartments provides a unique opportunity to own a 4 Unit Apartment Complex with Stabilized Market Rents in Four 3BR Units. The Seller has Architectural Plans to Build 2 Additional Units. Located in the highly desirable 92104 Zip Code on a .21 Acre Flat Lot the property consists of Four Large 3BR/2Bath units with an average of 915 SF each and built in 1987. Architectural Plans are available to build 2 additional units consisting of a 2BR/2Bath & a 3BR/3Bath. The addition of these 2 units should bring in close to $7,000/month on top of the current income which is $11,400/month. The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.

FOR SALE DETAILS

PRICE

$2,080,000 USD

PRICE/SF

$568 USD /SF

# OF UNITS

4

PRICE/UNIT

$520,000

CAP RATE

4.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Landis Canyon

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

RS-1-7

APN/PARCEL ID

447-641-29

ASK ABOUT THIS PROPERTY

Tom McCartinThe McCartin GroupMore Info
858-373-3196

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Tom McCartinThe McCartin GroupMore Info
858-373-3196

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