3978 Utah St - Apartments FOR SALE


San Diego, CA 92104- North Park
$3,192,000 USD
858-735-6632
3978 Utah St, San Diego, CA for Sale
$3,192,000 USD
Apartments - FOR SALE
1/6
null | 4.17% Cap Rate

3978 Utah St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Heart of North Park Location - Within Blocks of University Avenue and 30th Street
  • First Time on Market in Over 30 Years
  • Desirable Unit Mix of Spacious One and Two Bedroom Units
  • Extensive Capital Improvements - Interiors | Windows | Upgraded Electrical
  • (8) Off-Street Parking Spaces
  • On-Site Laundry and Gated Entry

OVERVIEW

Marcus & Millichap is pleased to present 3978 Utah Street located in San Diego, California. Originally built in 1973, the 8-unit apartment complex is located in the highly desirable neighborhood of North Park and boasts an unbeatable Walk Score of 98. The building measures approximately 6,521 rentable square feet and rests on a 6,981 square foot lot. The unit mix consists of (5) spacious one bedroom / one bathroom units, (1) two bedroom / one bathroom unit, and (2) large two bedroom / two bathroom units. Current ownership has diligently upgraded the property over the years including dual pane vinyl windows, upgraded electrical system and interior renovations in 7 of the 8 units. Attractive tenant offerings include: on-site laundry and (8) off-street parking spaces, (4) of which are car ports. Having been well-maintained the property presents to substantially increase rents through continued renovation and more aggressive management. Located less than a block north of University Avenue and two blocks from 30th Street, the property is within walking distance to all the best North Park has to offer. The property also offers easy access to the 805 freeway simplifying commutes. 3978 Utah Street ultimately presents investors the rare opportunity to acquire a well maintained and improved asset with significant rental upside in one of San Diego’s most desirable rental markets.

FOR SALE DETAILS

PRICE

$3,192,000 USD

PRICE/SF

$489 USD /SF

# OF UNITS

8

PRICE/UNIT

$399,000

CAP RATE

4.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,225 SF

ZONING

R3

APN/PARCEL ID

445-712-21

ASK ABOUT THIS PROPERTY

Raymond ChoiMarcus & MillichapMore Info
858-735-6632

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Raymond ChoiMarcus & MillichapMore Info
858-735-6632

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