3968 Alabama St - Apartments FOR SALE


San Diego, CA 92104- North Park
$3,300,000 USD
858-859-9737
3968 Alabama St, San Diego, CA for Sale
$3,300,000 USD
Apartments - FOR SALE
1/16
null | 4.49% Cap Rate

3968 Alabama St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • In-unit laundry
  • On-site parking
  • Fully renovated interior and exterior
  • 92 Walkscore
  • two-zone AC
  • Private patios and balconies

OVERVIEW

This is a unique opportunity to own eight extensively renovated 500sf 1 Bed 1 Bath units in the premier North Park neighborhood of San Diego CA. Units are fully appointed with in-unit washer dryer, 2 zone mini-split ac units, vinyl plank floors, recessed lighting, ceiling fans, modern kitchen and bathroom finishes. Tenants enjoy Private balcony/patio space and dedicated onsite parking for each unit. The site is gated with a code lock. The building is all electric and has upgraded electrical subpanels. The building was constructed in 1977 and Renovated in 2020. Lot size is 6,974. Improved Space: 3,906 per title. Site offers desirable high density RM-3-9 Zoning (allows 1 dwelling per 600sf)which could open construction opportunity in the rear lot space. Up to 100% density bonus is allowed with deed-restricted units. Site is within Complete Communities FAR Tier 3 (6.5 FAR) and within Mobility Zone 2. These favorable zoning designations allow for increased density, waivers for development impact fees, and reduced parking requirements. This is an opportunity to entitle functional space while maintaining units for cash-flow.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$825 USD /SF

# OF UNITS

8

PRICE/UNIT

$412,500

CAP RATE

4.49%

% 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

1978

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

RM-3-9

APN/PARCEL ID

445-672-24

ASK ABOUT THIS PROPERTY

Aziz ZakkoutZakkout Real Estate ServicesMore Info
858-859-9737

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Aziz ZakkoutZakkout Real Estate ServicesMore Info
858-859-9737

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