4321 33rd Street, San Diego, CA 92104 - MLS#240027406

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,395,000

Est. payment | -/mo

8 Beds

8 Baths

1,000 SqFt

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$ 2,395,000

Est. payment | -/mo

Save

8 Beds

8 Baths

1,000 SqFt

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 1,000 sqft

Price per Sqft $2,395

Subdivision Normal Heights

MLS Listing ID 240027406

Bedrooms 8

Full Baths 8

HOA Y/N No

Year Built 2022

Property Sub-Type Res Income 2-4 Units

Property Description

PRICE REDUCTION! 5.9% Mkt Cap Rate. 4321 33rd Street, San Diego, CA 92104 is a newly built (2022) 5 unit apartment property located in the trendy Normal Heights area of mid-city San Diego with walking distance to Adams Avenue's bustling restaurant and brewery scene and just a short drive to North Park, University Heights, South Park, Hillcrest & Kensington. The property boasts 80% HUGE 1,000 SF 2BR/2BA units with high end finishes and 14' ceilings on the 2nd level. The property is extremely efficient with limited landscaping and on-going maintenance. The units boast individual hot water heaters, and electric meters (no gas) and submeters for water. Although the rents are very close to market, there is still additional upside in rents on turnover/lease renewal for each unit. Property is also exempt for California Rent Control AB-1482, due to the newer age of construction. NOTE that the property is 4 legal units with a 5th unit that is nonconforming. Due to recent changes to city density and ADU regulations, a buyer should have a clear path to perfecting the 5th unit. Buyer to Investigate viability of perfecting the 5th unit. Email listing agent for Offering Memorandum

Location

State CA

County San Diego

Community Normal Heights

Area North Park (92104)

Building/Complex Name NA

Interior

Cooling Central Forced Air

Exterior

Exterior Feature Stucco, Wood/Stucco

Fence Partial

Roof Type Composition

Building

Story 1

Lot Size Range 4000-7499 SF

Level or Stories 1 Story

Others

Acceptable Financing Cash, Conventional

Space Rent $2,895

Listing Terms Cash, Conventional

Listed by Corey McHenry • David Santistevan

+1(619) 302-3010

matt@homecrave.com

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4321 33rd Street San Diego, CA 92104