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$ 2,200,000
Est. payment /mo
Pending
4321 33rd Street San Diego, CA 92104
8 Beds
8 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
Subdivision Normal Heights
MLS Listing ID 240027406
Bedrooms 8
Year Built 2022
Property Sub-Type Res Income 2-4 Units
Property Description
NEW REDUCED PRICE | Seller Motivated | 5.81% Current Cap Rate | 6.45% Market Cap Rate. 4321 33rd Street, San Diego, CA 92104 is a newly built (2022) 5 unit apartment property located in the trendy Normal Heights area of mid-city San Diego with walking distance to Adams Avenue's bustling restaurant and brewery scene and just a short drive to North Park, University Heights, South Park, Hillcrest & Kensington. The property boasts 80% HUGE 1,000 SF 2BR/2BA units with high end finishes and 14' ceilings on the 2nd level. The property is extremely efficient with limited landscaping and on-going maintenance. The units boast individual hot water heaters, and electric meters (no gas) and submeters for water. Although the rents are very close to market, there is still additional upside in rents on turnover/lease renewal for each unit. Property is also exempt for California Rent Control AB-1482, due to the newer age of construction. NOTE that the property is 4 legal units with a 5th unit that is nonconforming. Due to recent changes to city density and ADU regulations, a buyer should have a clear path to perfecting the 5th unit. Buyer to Investigate viability of perfecting the 5th unit. Email listing agent for Offering Memorandum
Location
State CA
County San Diego
Area Metro Uptown
Interior
Cooling Central Forced Air
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 1
Level or Stories 1
Others
Tax ID 453-281-37-00
Listed by Corey McHenry David Santistevan
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