904-914 24th St - Apartments FOR SALE


San Diego, CA 92102- Golden Hill
$2,895,000 USD
858-775-9825
904-914 24th St, San Diego, CA for Sale
$2,895,000 USD
Apartments - FOR SALE
1/18
null | 3.77% Cap Rate

904-914 24th St
San Diego, CA 92102
Golden Hill


HIGHLIGHTS

  • Prime Golden Hill Location - Western Slopes
  • Value-Add with Significant Upside - Proforma Cap Rate 5.42%
  • 50% Spacious 2-Bedroom Unit Mix
  • (2) Adjacent Corner Parcels Totaling 7,609 SF of Land

OVERVIEW

Presenting 904-14 24th Street, an exceptional 8-unit apartment complex in the Western Slopes of San Diego’s vibrant Golden Hill neighborhood. Built in 1910, this historic property offers timeless charm and substantial value-add potential, with a coveted Walk Score of 89 reflecting its pedestrian friendly location. Spanning two parcels totaling 7,609 square feet and featuring approximately 5,760 rentable square feet, the asset boasts a diverse unit mix: one 2-bedroom/1.5-bathroom unit, three 2-bedroom/1- bathroom units, two 1-bedroom/1-bathroom units, and two studios (one non-conforming). The interiors have been thoughtfully maintained, showcasing built-in storage, vaulted ceilings, original hardwood floors, and abundant natural light from large windows. Investors can capitalize on untapped upside through targeted renovations and restorations, positioning the property to achieve market-leading rents and enhanced cash flow. Unused lot spaces between the buildings could allow for the potential construction of an ADU further increasing density and rental income. Ideally situated less than a block from Broadway, residents enjoy seamless access to Golden Hill’s eclectic dining, shopping, and cultural scene, with Balboa Park and major freeways (I-5 and SR-94) just moments away. This rare offering represents a prime opportunity to acquire a stabilized, income-producing asset with significant rental growth in one of San Diego’s most sought-after submarkets.

FOR SALE DETAILS

PRICE

$2,895,000 USD

PRICE/SF

$503 USD /SF

# OF UNITS

8

PRICE/UNIT

$361,875

CAP RATE

3.77%

% 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

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

RM-1-2

APN/PARCEL ID

534-383-15,534-383-16

ASK ABOUT THIS PROPERTY

Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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

Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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