3770 42nd St - Apartments FOR SALE


San Diego, CA 92105- Castle
$2,400,000 USD
858-373-3196
3770 42nd St, San Diego, CA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/7
null | 6.1% Cap Rate

3770 42nd St
San Diego, CA 92105
Castle


HIGHLIGHTS

  • 1986 Construction, Pitched Roof, Excellent Unit Mix of 1's & 2's with Rents about 10% Below Market
  • Plenty of Off Street Parking, Gated Front & Rear Entrance
  • Walkable Neighborhood 88/100 Walk Score

OVERVIEW

Pleased to present this Garden Style 10 Unit Apartment Building located on the western side of City Heights, just a few blocks from the I-15 Interstate. The property offers a Walk Score of 88/100 and is conveniently situated near several grocery stores and restaurants. 3770 42nd Street is also within a short walk or drive to multiple elementary, middle, and high schools. City Heights continues to improve year over year in terms of overall property conditions and tenant quality. This is the perfect “bread & butter” property that attracts quality tenants and should provide a stable, cash-flowing investment for the next owner. The property has been well maintained over the years by a well-respected property management company. The unit mix consists of seven 1BR/1BA units and three 2BR/1BA units, with nearby comparable units achieving rents approximately 10% higher. Significant capital improvements have been completed, including main and subpanel electrical replacements for insurance compliance, a roof approximately seven years old, and the recent replacement of more than half of the water heaters. SB 721 work has also been completed, with a passing inspection report forthcoming upon final inspection scheduled for next week.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$450 USD /SF

# OF UNITS

10

PRICE/UNIT

$240,000

CAP RATE

6.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,013 SF

ZONING

MR15B, San Diego

APN/PARCEL ID

471-631-26

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.