Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3864 35Th St San Diego, CA 92104

    For Sale
    $4,995,000

    Motivated seller, renovated units, below market rents, high cap rate.

    Lot size:
    0.16 Acres

    Property Features for 3864 35Th St

    General Information

    Lot size
    0.16 Acres

    Source: Newmark of Southern California Agent Erik Anderson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    San Diego Multifamily Investment Opportunity

    This multifamily property, built in 1986, presents a significant investment opportunity. The seller is motivated to close by year-end and encourages all offers. The property currently operates at a 5.56% capitalization rate, with rents having recently increased. Compared to other properties in the submarket, this newer vintage building requires less capital expenditure. Eleven out of eighteen units have already been renovated, offering the potential to further increase rents. Current rents are approximately 12.3% below market rates. The property has the potential to achieve a 7.03% capitalization rate with mark-to-market adjustments. There is no new construction in the immediate submarket. The average per-unit sale price in the 92104 zip code over the past 12 months is $411,000, while the asking price is $277,500 per unit, representing an approximate 30% discount compared to recent sales.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.118417
    Latitude
    32.7491812

    Nearby Similar for Sale

    • $1,798,999
      1,994 SF

      Renovated Luxury Home with ADU

      Fully renovated home with canyon views and income potential.
      3109 Hawk St, San Diego, CA 92103
      View Details
    • $3,699,000
      0.13 Acres

      Rare Mixed-Use Property in Bankers Hill

      Mixed-use property with commercial and residential zoning in coveted Bankers Hill.
      110 Maple St, San Diego, CA 92103
      View Details
    • $1,799,000
      Pending

      Renovated Triplex with Development Potential

      Turnkey triplex on large lot with ADU potential.
      6492-6494 Lanston St, San Diego, CA 92111
      View Details
    • $1,395,000
      Pending

      Remodeled Triplex in Southcrest/Shelltown

      Three fully remodeled homes in Southcrest/Shelltown, San Diego.
      4123 Gamma St, San Diego, CA 92113
      View Details
    • $2,095,000

      San Diego Triplex Opportunity

      Triplex in ideal location with rental income potential.
      1028-30 Lincoln Ave, San Diego, CA 92103
      View Details
    • $1,555,000
      Pending

      San Diego Multifamily with Views

      Two-unit property with views, development potential, and convenient location.
      3686-88 Columbia St, San Diego, CA 92103
      View Details

    FAQs

    What type of property is this?
    Apartment building - Motivated seller, renovated units, below market rents, high cap rate.
    Where is this apartment building located?
    The property is located at 3864 35Th St San Diego, CA.
    What is the asking price?
    The asking price for this property is $4,995,000.
    What are key features of this property?
    This property features: - Significant Discount: Asking price is approximately 30% lower than comparable sales.; - High Cap Rate: Current cap rate of 5.56% with potential to reach 7.03% by marking rents to market value.; - Opportunity to increase rents by approximately 12.3% across all units, due to below market rents.
    (858) 395-6935
    Request Owner's contact information
    3864 35Th St San Diego, CA 92104
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3864 35Th St
    San Diego, CA 92104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3864 35Th St San Diego, CA 92104
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.