4583-4585 36th St - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$2,700,000 USD
619-993-0469
4583-4585 36th St, San Diego, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/30
null | 3.79% Cap Rate

4583-4585 36th St
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • 10 Parking Spaces for 8 Units
  • Each Unit is Outfitted with Washer/Dryer and Dishwasher
  • 5 of 8 Units Fully Remodeled
  • Stainless Steel Appliances
  • RUBs in Place and Potential to increase RUBS percentage and add other utilities

OVERVIEW

Exceptional 8-unit investment opportunity in one of San Diego’s most desirable and walkable neighborhoods — Normal Heights. The property features an ideal unit mix of (5) two-bed/two-bath and (3) one-bed/one-bath apartments, along with 10 off-street parking spaces, a highly sought-after amenity in this dense urban location. Each apartment includes in-unit laundry, and five of the eight units have been fully remodeled within the past four years, showcasing modern finishes, upgraded kitchens, and stainless steel appliances. The remaining units are in good condition and provide straightforward value-add potential through light renovations. The property is currently stabilized with strong in-place rents and additional upside through RUBS optimization and market-rate rent adjustments. A Ratio Utility Billing System is already in place, recovering approximately 50% of water expenses. Future ownership can increase RUBS participation and include trash and common-area SDG&E for additional pass-through income. With immediate cash flow, value-add upside, and durable long-term demand, this property represents a rare opportunity to acquire a turnkey asset with income growth potential in one of San Diego’s strongest rental markets.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$464 USD /SF

# OF UNITS

8

PRICE/UNIT

$337,500

CAP RATE

3.79%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,251 SF

ZONING

MR15B, San Diego

APN/PARCEL ID

447-042-04

ASK ABOUT THIS PROPERTY

Peter GiacaloneENG & Willin PropertiesMore Info
619-993-0469

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Peter GiacaloneENG & Willin PropertiesMore Info
619-993-0469

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