904-914 24th St - Apartments FOR SALE


San Diego, CA 92102- Golden Hill
$2,625,000 USD
858-775-9825
904-914 24th St, San Diego, CA for Sale
$2,625,000 USD
Apartments - FOR SALE
1/15
null | 4.62% Cap Rate

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


HIGHLIGHTS

  • Prime Golden Hill Location - Western Slopes
  • Three Victorian Style Buildings with Architectural Character
  • 50% 2-Bedroom Unit Mix with Spacious Layouts
  • Value-Add Opportunity - Proforma 6.17% Cap Rate
  • Vaulted Ceilings, Refinished Hardwood Floors and Built-In Storage
  • (2) Adjacent Corner Parcels Totaling 7,609 SF of Land with ADU Potential

OVERVIEW

Presenting 904–914 24th Street, an exceptional 8-unit multifamily investment opportunity located in the highly desirable Golden Hill neighborhood of San Diego, California. Originally constructed in 1910, the property consists of three residential buildings situated on (2) adjacent corner parcels and offers approximately ±5,760 square feet of living space. Spanning two parcels totaling 7,609 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. Select units offer private balconies and yards giving tenants outdoor space seldom found in newer complexes. The asset provides stable in-place income while presenting investors with a compelling value-add opportunity. Investors can capitalize on untapped upside through targeted renovations and restorations, positioning the property to achieve market-leading rents and enhanced cash flow. Unused space between the buildings could allow for the potential construction of an ADU further increasing density and rental income.

FOR SALE DETAILS

PRICE

$2,625,000 USD

PRICE/SF

$456 USD /SF

# OF UNITS

8

PRICE/UNIT

$328,125

CAP RATE

4.62%

% 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

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Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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