4321 33rd st, San Diego, CA 92104
Active
$2,200,000
11%
5 Units
8 Beds
8 Baths
n/a Area(sq.ft.)
Lot: n/a Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | $ 2,895 | $ 2,895 | $ 3,195 | |
| Unit 2 | 1 | 2 | 2 | $ 2,995 | $ 2,995 | $ 3,195 | |
| Unit 3 | 1 | 2 | 2 | $ 2,995 | $ 2,995 | $ 3,095 | |
| Unit 4 | 1 | 2 | 2 | $ 2,995 | $ 2,995 | $ 3,095 | |
| 4 | 8 | 8 | $ 11,880 | $ 11,880 | $ 12,580 |
| MLS #: | 240027406SD |
| Days On Market: | 379 |
| Listing Date: | November 22, 2024 |
| County: | San Diego |
| Property Type: | Residential Income |
| Price per unit: | $ 440,000 |
| Year Built: | 2022 |
Property Details
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 MemorandumInterested in this Listing?
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Income Details
| Total Annual Expense: | $ 38,274 |
| Net Operating Income: | $ 127,891 |
| Cap Rate: | 5.81% |
| Gross Rent Multiplier: | 12.84 |
Structure
| Amenities: | None |
| Levels: | One |
| Complex Name: | NA |
| Security Features: | Gated |
Land & Parking
Interior
| AC/Cooling: | Central Forced Air |
Exterior
| Pool: | No |
| Roof: | Composition |
| Spa: | No |
Detailed Map
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Income
