5.07% CAP | 12.9 GRM | (71%)2+2s | North Park
7 Unit Apartment Building | $2,995,000 ($427,857/Unit) | 5.07% Cap Rate | San Diego, CA 92104
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,995,000
- Property Type
-
Multifamily
- Square Feet
- 5,412 SF
Listing Contacts
Eric von Bluecher
Verified Profile
Ivan Del Muro-Garcia
Verified Profile
- Property Info
Property Overview
Back on market at no fault of Seller.
The Von Bluecher Multifamily Group of Lee & Associates North San Diego County, is pleased to present 3746 31st St, a well maintained and ideally located seven-unit multifamily investment located in the heart of North Park, San Diego. Highest Cap Rate (5.07%) and Lowest GRM (12.90), 3rd lowest price per foot ($553) available right now in North Park, San Diego. Well maintained building with interiors featuring vinyl flooring, tile counters and updated stainless appliances in most units. 5 out of 7 units are 2 bedroom, 2 baths with master ensuite baths along with 2, one bed, one bath units. Laundry room on-site for additional income. The building is located one block away from University Ave and 3 streets away to the 30th Street corridor. In just a quick 5 minute walk to north or west, tenants have immediate access to some of the most popular nightlife, restaurants, coffee, shopping, art galleries, theater, farmers markets, brunch spots, boutiques, and breweries in all of San Diego. The property is centrally located near the 15, 805, 163, and 8 Freeways and minutes away from Balboa Park which hosts events, museums, concerts and more. Investors can buy this building and achieve a well above market cap rate on day one in addition to have plenty of opportunity to add value with further renovations and improvements such as ensuite washer/dryer additions, new windows, and more. Contact list agents for a tour and full marketing brochure.
The Von Bluecher Multifamily Group of Lee & Associates North San Diego County, is pleased to present 3746 31st St, a well maintained and ideally located seven-unit multifamily investment located in the heart of North Park, San Diego. Highest Cap Rate (5.07%) and Lowest GRM (12.90), 3rd lowest price per foot ($553) available right now in North Park, San Diego. Well maintained building with interiors featuring vinyl flooring, tile counters and updated stainless appliances in most units. 5 out of 7 units are 2 bedroom, 2 baths with master ensuite baths along with 2, one bed, one bath units. Laundry room on-site for additional income. The building is located one block away from University Ave and 3 streets away to the 30th Street corridor. In just a quick 5 minute walk to north or west, tenants have immediate access to some of the most popular nightlife, restaurants, coffee, shopping, art galleries, theater, farmers markets, brunch spots, boutiques, and breweries in all of San Diego. The property is centrally located near the 15, 805, 163, and 8 Freeways and minutes away from Balboa Park which hosts events, museums, concerts and more. Investors can buy this building and achieve a well above market cap rate on day one in addition to have plenty of opportunity to add value with further renovations and improvements such as ensuite washer/dryer additions, new windows, and more. Contact list agents for a tour and full marketing brochure.
Property Details
- Class
- C
- Year Built
- 1968
- Stories
- 2
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 7
Highlights
- 5.07% Cap Rate and 12.90 GRM
- 5 out of 7 units are 2 bed, 2 baths with master ensuite baths along with 2, one bed, one bath units
- Well maintained building, interiors featuring vinyl flooring, tile counters & updated stainless appliances in most units
- Laundry room on-site for additional income
- The building is located one block away from University Ave & a short walk to the 30th Street corridor
- Can Potentially Deliver Unit 1 and 3 Vacant
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