2621-27 Monroe Ave San Diego, CA 92116
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 2621-27 Monroe Ave
- Year built
- 1920
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a fully leased, 8-unit apartment building situated in San Diego's desirable University Heights neighborhood at 2621-27 Monroe Ave, CA 92116. The property boasts a strong NOI of $110,033, yielding a 3.55% cap rate at an asking price of $3,100,000. Comprising three buildings on a corner lot, this multifamily property offers 5,100 square feet of net rentable space across two stories. Built in 1920 and renovated in 1960, the building features a mix of unit sizes, including seven two-bedroom units and one one-bedroom unit. Convenient on-site laundry facilities and shared outdoor space enhance resident appeal. The property's prime location offers excellent proximity to shopping, dining, and entertainment, making it attractive for both short-term and long-term renters. This offering is ideal for a 1031 exchange. The property's APN is 445-251-30-00. With a price per unit of $387,500, this presents a compelling opportunity for investors seeking a stable, income-generating asset in a thriving San Diego neighborhood. The property's size and location offer potential for future enhancements and value appreciation.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.136
- Latitude
- 32.759
