4045 Cherokee Ave San Diego, CA 92104-7310

Property Details for 4045 Cherokee Ave

Lot size

0.16 lot acres

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Apartment buildings

APN

447-412-09-00

APU

4474120900

Description

This exceptional 9-unit apartment building, located at 4045 Cherokee Ave in San Diego, CA 92104, presents a compelling investment opportunity. Boasting a desirable North Park - City Heights location, this property offers a strong rental income stream with a current NOI of $108,938 and a 4.75% cap rate. The asking price is $2,300,000, translating to $255,556 per unit. Built in 1969, the two-story building comprises 6,000 square feet on a 7,005 square foot lot. The unit mix includes three two-bedroom/one-bathroom units and six one-bedroom/one-bathroom units. On-site amenities include laundry facilities and ample parking with 9 spaces (4 front, 5 rear). The property benefits from a Walk Score of 90, placing it within easy walking distance of parks and shopping. Well-maintained with moderate updates, this property offers significant potential for value enhancement through renovations and modernization. This is a rare opportunity to acquire a well-located, income-producing asset in a thriving San Diego neighborhood. The property's APN is 447-412-09-00. The building has been under the same ownership for 49 years.