3938-3942 Florida St - Apartments FOR SALE


San Diego, CA 92104- North Park
$2,550,000 USD
858-247-2487
3938-3942 Florida St, San Diego, CA for Sale
$2,550,000 USD
Apartments - FOR SALE
1/11
null | 3.57% Cap Rate

3938-3942 Florida St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Prime North Park Location Bordering Hillcrest
  • Cottage Style Units with Patios and Yard Space
  • ~27% of Upside in Rents
  • Rooftop Deck with Stunning Views
  • ADU Potential Through Garage Conversion and/or Redevelopment of the Oversized Lot. (

OVERVIEW

Six (6) Cottages on a 9,371 sq ft lot in a prime North Park location with a Walk Score of 93. The property is located just east of the Hillcrest border and is walking distance to Park Boulevard and University Avenue’s Restaurants, Cafes and Bars. The property features five (5) well maintained 1bedroom/1bath cottage-style units, along with a large 2beddroom/1bath house each with its own patio and yard space and several units with stunning views. There is approximately 27% upside in rental income and also offers ADU potential through garage conversion and/or redevelopment of the oversized lot. The grounds are well maintained and include six (6) garages and (2) two off-street parking spaces, boosting tenant appeal and the opportunity to achieve strong market rents.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$672 USD /SF

# OF UNITS

6

PRICE/UNIT

$425,000

CAP RATE

3.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

North Park Cottages

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

RM-3-9

APN/PARCEL ID

445-671-25-00

ASK ABOUT THIS PROPERTY

Caleb ManciniApartment Realty Group (ARG)More Info
858-247-2487

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Caleb ManciniApartment Realty Group (ARG)More Info
858-247-2487

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