4170 37th Street
San Diego, CA 92105
0.16 acres | #PTP2405253
Description
Commercial Asset Advisors is pleased to present the opportunity to acquire an attractive investment opportunity for a value-add 9-unit multifamily asset in the desirable, centrally located Cherokee Point neighborhood. The asset consists of six 1 Bed / 1 Bath and three 2 Bed / 1 Bath units on a 7,000 sqft lot. All tenants possess notably below-market rents and are on a month-to-month basis. The asset possesses a forecasted 7.33% Proforma Cap Rate post full renovation with installation of in-unit laundry. The building contains a 50 sqft laundry room contiguous to a 150 sqft storage room containing an existing bathroom with plumbing, gas supply, and electricity. A savvy investor may seek to convert this 200 sqft of plumbed and powered non-living square footage into an additional studio unit as an ADU or expand on the existing contiguous 1 Bed / 1 Bath unit to create a 2 Bed / 2 Bath unit for increased rent potential. The property passed SB721 deck inspections in 2023
Property Details
- Lot DescriptionThirtySixToFortyUnitsAcre
- Stories2
Measurements
- Acres0.1607
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1970
Utilities / Energy Details
- Sewer InformationPublicSewer
Community and Neighborhood Details
- CountySan Diego
Financial Details
- Original List Price$2,385,000
Other
- MLS #PTP2405253
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Maxwell Brown (#818479)
Listing Office: Commercial Asset Advisors (#87970)
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