3830 41St St San Diego, CA 92105

Property Details for 3830 41St St

Year built

1923

Property size

2,588 SF

Property type

Commercial real estate

Description

This exceptional value-add multifamily investment opportunity presents a rare chance to acquire a four-unit apartment building in the desirable San Diego, CA market. Located at 3830 41st Street, 92105, this property boasts 2,588 square feet of rentable space situated on a 5,506 square foot lot. The building, constructed in 1923, features a mix of three two-bedroom, one-bathroom units and one studio unit, currently vacant, offering immediate potential for increased revenue. The property's current NOI is $39,902, yielding a 5.70% cap rate. However, with strategic improvements and increased occupancy, a significant boost in profitability is projected, resulting in a pro-forma NOI of $66,398 and a compelling 9.49% pro-forma cap rate. The asking price is $700,000, or $175,000 per unit. This two-story building presents a strong foundation for a savvy investor seeking to enhance value and maximize returns in a thriving San Diego neighborhood. The property's location in San Diego County offers excellent access to local amenities and transportation. This is a prime opportunity to capitalize on the growing demand for rental properties in this sought-after area. Don't miss this chance to acquire a well-positioned asset with substantial upside potential.