3928 Alabama St San Diego, CA 92104

This exceptional 12-unit apartment building presents a compelling investment opportunity in San Diego's desirable North Park neighborhood, boasting a prime location near University Heights, Hillcrest, and Morley Field. The three-story structure, built in 1970, encompasses approximately 6,714 square feet on a 7,118 square foot lot. The property features a strong unit mix, including six 2-bedroom, 1.5-bathroom units and six additional units comprised of two 1-bedroom units and two studio ADUs. All units include dishwashers. The building benefits from a 100% occupancy rate, generating a current NOI of $217,381, and a pro-forma NOI of $259,704, representing a 5.00% cap rate and a pro-forma cap rate of 5.97%, respectively. Eight of the units have individual APNs. Ample parking is available. Many units have been remodeled, presenting potential for further rental income growth. The asking price is $4,350,000, or $362,500 per unit. This stabilized investment property offers a solid return with significant upside potential. The property is being sold as-is. Please do not disturb tenants.