4580 33rd St - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$2,595,000 USD
858-876-5701
4580 33rd St, San Diego, CA for Sale
$2,595,000 USD
Apartments - FOR SALE
1/14
null | 5.36% Cap Rate

4580 33rd St
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • 5/8 Units Professionally Upgraded
  • Compliant SB721 Elevated Elements Inspection Report
  • Desirable mix of (6) 2 bedroom units and (2) 1 bedroom Units
  • Strong in place GSI with room for growth
  • Professionally managed and maintained
  • Less than a 5 minute walk to coffee, restaurants, and everything Adams Ave has to offer creating a strong tenant profile

OVERVIEW

For buyers focused on stable in-place returns, the property’s current cap rate supports pricing in income and in recent comparable sales on a price-per-unit basis. Within the 92116 submarket, the asset distinguishes itself through an exceptionally strong and rare unit mix: six 2-bedroom / 1-bath units and two 1-bedroom / 1-bath units—an uncommon configuration for an 8-unit property in this area. Five of the eight units have been professionally upgraded, SB 721 inspections are complete, and the property has been professionally managed and maintained to support strong rents and a high-quality tenant profile. Recent capital improvements include replacement of the front concrete parking lot as well as updates to sub-panels and breakers. Two bedroom units consistently outperform in tenant demand, retention, and rent stability, reducing turnover risk while supporting higher effective rents. As a result, the income profile is both durable and defensible. When evaluated alongside competing offerings, buyers should naturally gravitate toward this properties combination of in-place cap rate performance and functional layouts, as these factors remain primary decision drivers for acquisitions in this submarket.

FOR SALE DETAILS

PRICE

$2,595,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

8

PRICE/UNIT

$324,375

CAP RATE

5.36%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sun Villa Apartment

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,251 SF

ZONING

MR15B, San Diego

APN/PARCEL ID

447-512-30

ASK ABOUT THIS PROPERTY

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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Christina LabowiczACI ApartmentsMore Info
858-876-5701

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