Renovated 9-Unit Apartment
For Sale
$2,800,000
4357 39th St, San Diego, CA 92105
Remodeled single-story apartment community with uniform one-bedroom residences and dedicated garage parking.
Property Size5,080 SF
Lot Size0.29 Acres
Price / SF$551.18
Days on Market47
Property Features for 4357 39th St
General Information
Standard status
Active
Size
5,080 SF
Total Parking Spaces
9
Lot size
0.29 Acres
Property subtype
Commercial
Site & Location
Neighborhood
Normal Heights
Units
Unit Mix
9 x 1BR/1BA
Multifamily Units
9
Building Details
Year Built
1926
Year Renovated
2025
Stories
1
Units
9
Listing Agency:
NorthMarq Multifamily
Listed By:
Benn Vogelsang · License #CA DRE 01883437
(415) 250-4947
Source:
Elliman
Added: Sep 19
Changed: Nov 3
Last Checked: Nov 4 at 12:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NorthMarq Multifamily
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Investment Insights
Based on property information with market context.
This apartment property comprises 9 one-bedroom, one-bathroom units across multiple single-story structures totaling 5,080 square feet. Originally built in 1926 and renovated in 2025, the community includes 9 garages, with four located on a separate 1,752-square-foot lot. Each residence received comprehensive interior improvements, including vinyl plank flooring, new baseboards, canned lighting, ceiling fans, window coverings, appliances, electric wall heaters, and upgraded electrical subpanels.
Kitchen and bath updates include new cabinetry, fixtures, hardware, and quartz countertops. Plumbing was replaced with copper and ABS as needed. Exterior work included a new roof, stucco repairs, fresh paint, updated doors, and landscaping. The property sits on a 12,666-square-foot lot in San Diego and has a Walk Score of 91, Bike Score of 55, and Transit Score of 52.
Kitchen and bath updates include new cabinetry, fixtures, hardware, and quartz countertops. Plumbing was replaced with copper and ABS as needed. Exterior work included a new roof, stucco repairs, fresh paint, updated doors, and landscaping. The property sits on a 12,666-square-foot lot in San Diego and has a Walk Score of 91, Bike Score of 55, and Transit Score of 52.
Key Highlights
- 9‑unit apartment community with all residences configured as 1 Bedroom / 1 Bathroom
- 5,080 square feet across multiple single‑story structures on a 12,666‑square‑foot lot
- Renovated in 2025, including complete unit interior remodels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,052
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,901,040
$1.9M
Cap Rate 7%
$1,357,886
$1.4M
Cap Rate 9%
$1,056,133
$1.1M
Market Conditions
NOI Build-Up for 5,080 SF
Gross rent
$182.9K $36.00/SF
− Vacancy
−$10.1K −$1.98/SF
EGI
$172.8K $34.02/SF
− OpEx
−$77.8K −$15.31/SF
NOI
$95.1K $18.71/SF
Area
ZIP 92105
Vacancy
5.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,901,040
Cap Rate 7%
$1,357,886
Cap Rate 9%
$1,056,133
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $95,052 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,452 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
2,313
Businesses Nearby
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Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled single-story apartment community with uniform one-bedroom residences and dedicated garage parking.
Where is this apartment building located?
The property is located at 4357 39th St San Diego, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 9‑unit apartment community with all residences configured as 1 Bedroom / 1 Bathroom; 5,080 square feet across multiple single‑story structures on a 12,666‑square‑foot lot; Renovated in 2025, including complete unit interior remodels
