Presenting an exceptional investment opportunity with a 5.1% Cap Rate in the highly desirable North Park area of San Diego. Located just three blocks from Morley Field and Balboa Park, this 4,710-square-foot, six-unit multifamily building offers tenants convenient access to a wide range of amenities, including tennis courts, a dog park, and expansive athletic facilities all within walking distance. This fully occupied, well-maintained property features two 1-bedroom, 1-bath units; three 2-bedroom, 1-bath units; and one 3-bedroom, 2-bath unit. It also features four 1-car garages, 6 uncovered parking spots, and ample off-street parking, a rare find in this neighborhood. Recent updates include upgraded kitchens and refreshed landscaping minimizing maintenance costs and maximizing return on investment. The spacious and thoughtfully designed units are in great condition, attracting quality tenants and offering robust rental income potential. Positioned in the heart of North Park, one of San Diego's trendiest and most vibrant neighborhoods, this property benefits from its proximity to popular local attractions, shopping, and dining hotspots. Residents can enjoy renowned restaurants like The Smoking Goat, Urban Solace, and Tribute Pizza, along with entertainment venues such as the Observatory North Park. The area's thriving business scene and diverse cultural offerings add to its appeal, making it a prime location for investors seeking long-term growth and steady cash flow. With its central location, strong tenant appeal, and potential for appreciation, this property is an ideal addition to any multifamily real estate portfolio. Don't miss out on the chance to invest in one of San Diego's most in-demand and dynamic neighborhoods, where a combination of art, culture, and commerce creates an environment poised for continued growth.
|
DAYS ON MARKET
|
35
|
LAST UPDATED
|
11/18/2024
|
|
YEAR BUILT
|
1986
|
COMMUNITY
|
North Park
|
|
GARAGE SPACES
|
4.0
|
COUNTY
|
San Diego
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Nov 18, '24
|
$3,400,000
|
| Nov 18, '24 - Today |
$3,199,000 |
| AIR |
None |
| APPLIANCES |
Dishwasher, Refrigerator |
| AREA |
North Park |
| GARAGE |
Driveway, On Street, Private, Shared Driveway, Yes |
| HEAT |
Forced Air |
| INTERIOR |
Ceiling Fan(s) |
| LOT |
7022 sq ft |
| PARKING |
Driveway,Private,Shared Driveway,On Street |
| STORIES |
2 |
| ZONING |
RM-1-1 |
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Listed with The Beverly Hills Estates
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/26/24 12:51 AM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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