4036-42 36Th St San Diego, CA 92104

Property Details for 4036-42 36Th St

Year built

1939

Property size

2,340 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 4-unit apartment building located at 4036-42 36th Street, San Diego, CA 92104. The property, built in 1939, boasts a total of 2,340 square feet situated on a sizable 7,266 square foot lot. The building consists of three structures, each one story, offering four individual units, each a 1-bedroom, 1-bathroom apartment. Each unit also includes a single-car garage, providing convenient parking for residents. Currently generating a NOI of $50,000, resulting in a 4.17% cap rate, this property presents significant value-add potential. A pro-forma analysis projects a substantial increase in NOI to $86,000, leading to a 7.17% cap rate. The asking price is $1,200,000, or $300,000 per unit. This Class C multifamily property offers a compelling return on investment for savvy investors seeking to capitalize on the strong San Diego rental market. The property's location in San Diego County provides easy access to local amenities and transportation. This is a rare chance to acquire a well-positioned multifamily asset with considerable upside potential. The property is classified as a value-add investment, presenting opportunities for renovation and increased rental income.