3941 32nd St - Apartments FOR SALE


San Diego, CA 92104- North Park
$1,375,000 USD
617-678-8377
3941 32nd St, San Diego, CA for Sale
$1,375,000 USD
Apartments - FOR SALE
1/4
null | 2.34% Cap Rate

3941 32nd St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Well Maintained Complex With Value Add Upside
  • Extremely Walkable Location
  • Three Single-Car Garages for Potential ADU Conversion
  • Laundry Onsite and In Unit for 2-bed House
  • 5 Off-Street Parking Spaces

OVERVIEW

CBRE is pleased to present 3941-45 32nd St, a prime opportunity to acquire a well-maintained triplex in the sought-after North Park neighborhood of San Diego. The property, renovated in 2019, offers 1,928 rentable square feet on a 6,969-square-foot lot, making it an attractive value-add opportunity for investors looking to enhance below market in place rents. The unit mix consists of a 2-bedroom, 1-bath house at the front and two 1-bedroom, 1-bath units at the back. The property also includes ample off-street parking accessed via the alley and three single-car garages, which offer the potential for ADU conversion to increase income. In-place rents are significantly below market, providing a clear opportunity to increase returns without the need for substantial renovation. Located just one block from University Ave, the property is in a highly walkable area with a Walk Score of 93, classified as a “Walker’s Paradise,” offering tenants easy access to the local amenities, restaurants, and services that define North Park. With the potential for rent growth and additional income from ADU conversions, 3941 32nd St presents a solid investment opportunity in one of San Diego’s most dynamic neighborhoods.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$713 USD /SF

# OF UNITS

3

PRICE/UNIT

$458,333

CAP RATE

2.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3941-45 32nd St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1919

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,015 SF

ZONING

-

APN/PARCEL ID

446-433-11-00

ASK ABOUT THIS PROPERTY

Jordan BarrCBREMore Info
617-678-8377

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Jordan BarrCBREMore Info
617-678-8377

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