3443 Sandrock RdSan Diego, CA 92123

This exceptional 28-unit apartment building presents a compelling value-add investment opportunity in San Diego's desirable Serra Mesa neighborhood. The property boasts 16,660 square feet of net rentable space, spread across a single, two-story building situated on a 0.46-acre lot. All 28 units are spacious one-bedroom, one-bathroom apartments ranging from 500 to 600 square feet each, offering significant potential for rental income growth. The property enjoys a strong 4.37% cap rate and a substantial net operating income (NOI) of $397,644, with an asking price of $9,100,000. Its prime location offers convenient access to major employment centers, including Downtown San Diego, University Town Center, and Mission Valley, as well as the University of San Diego. The Serra Mesa community itself is undergoing significant gentrification, further enhancing the property's long-term value. Abundant off-street parking is available for tenants. The property's location near the Morena Corridor, slated for significant infrastructure improvements, including trolley line extension and enhanced commercial services, adds to its appeal. The potential for accessory dwelling unit (ADU) conversions presents an additional avenue for increasing the property's value and rental income. This well-maintained asset offers a rare chance to acquire a multifamily property in a highly sought-after San Diego submarket. The property is located at 3443 Sandrock Rd, San Diego, CA 92123.