4262-4266 Chamoune Ave - Apartments FOR SALE


San Diego, CA 92115- Teralta East
$1,125,000 USD
619-255-3233
4262-4266 Chamoune Ave, San Diego, CA for Sale
$1,125,000 USD
Apartments - FOR SALE
1/13
null | 6.14% Cap Rate

4262-4266 Chamoune Ave
San Diego, CA 92115
Teralta East


HIGHLIGHTS

  • Central City Heights Location with Convenient Access to SDSU, Downtown & Major Freeways
  • Originally Four Units – Garage Converted to ADU Creating Fifth Unit
  • Attractive 6.14% Going-In Cap Rate | 10.02 Current GRM
  • Strong In-Place Income of $9,101/Month Plus RUBS
  • Desirable Unit Mix – 3BR/2BA Detached House, Three 1BR/1BA Units & Studio
  • Off-Street Parking | On-Site Laundry

OVERVIEW

4262–4266 Chamoune Avenue presents an opportunity to acquire a five-unit multifamily property in San Diego’s City Heights neighborhood. Built in 1958, the property consists of approximately 3,138 square feet of improvements situated on a 6,258-square-foot lot. Originally a four-unit property, a former garage was converted into an ADU, creating the current five-unit configuration. The property features a highly desirable and diversified unit mix consisting of a three-bedroom/two-bath detached house, three one-bedroom/one-bath units, and one studio. The property offers a low-density residential setting with multiple structures, off-street parking, substantial paved common areas, private and semi-private outdoor spaces, and on- site laundry. The configuration provides residents with a more residential feel than a typical apartment building. The property is currently generating approximately $9,101 per month in base rental income, with additional RUBS income of approximately $256 per month. Current rents provide an investor with solid in-place cash flow while offering additional upside through future rent increases and property improvements. With its desirable unit mix, strong current income, off-street parking and value-add potential, 4262–4266 Chamoune Avenue represents an attractive opportunity for an investor seeking a well-located San Diego multifamily asset with both immediate income and long-term upside.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$359 USD /SF

# OF UNITS

5

PRICE/UNIT

$225,000

CAP RATE

6.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Chamoune Avenue Homes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,260 SF

ZONING

R-4

APN/PARCEL ID

471-251-08

ASK ABOUT THIS PROPERTY

Dylan WrightMD Real Estate IncMore Info
619-255-3233

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Dylan WrightMD Real Estate IncMore Info
619-255-3233

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