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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.
Property Type(s):
Residential Income
| Last Updated | 11/18/2024 | Year Built | 1986 |
|---|---|---|---|
| Community | North Park | Garage Spaces | 4.0 |
| County | San Diego |
Price History
| Prior to Nov 18, '24 | $3,400,000 |
|---|---|
| Nov 18, '24 - Today | $3,199,000 |
Additional Details
| 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 |
Location
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Listed with The Beverly Hills Estates
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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