4114 39th St, San Diego, CA 92105

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Glen Henderson

[email protected] +1(619) 889-7646

$2,099,000

Est. payment - /mo

8 Beds

6 Baths

700 SqFt

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UPDATED:

01/05/2025 12:34 AM

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 700 sqft

Price per Sqft $2,998

Subdivision North Park

MLS Listing ID 250000273

Bedrooms 8

Full Baths 5

Half Baths 1

HOA Y/N No

Year Built 1941

Lot Size 7,000 Sqft

Type of Financing Cash,Conventional,FHA,VA

Property Description

Exceptional Investment Opportunity in Cherokee Point – Fully Renovated 5-Unit Property This fully renovated, turnkey 5-unit multifamily property in Cherokee Point offers an exceptional blend of modern upgrades and investment potential. The property features three detached 2-bedroom, 1-bathroom craftsman cottages with private yards and laundry hookups, along with a two-story duplex comprising two 1-bedroom, 1-bathroom units that share a common laundry room. Four single-car garages provide additional income potential, with a feasibility study confirming their conversion into two accessory dwelling units (ADUs). All units have been thoughtfully updated with new kitchens, appliances, new roofs, windows, flooring, lighting, fresh paint, bathrooms, electrical, plumbing, and HVAC systems. The landscaped community includes outdoor seating areas, a dog run, automatic sprinklers, mature trees, and a block wall with a secure privacy gate, ensuring an inviting and safe environment. Currently fully leased with 12-month contracts at market rates, the property offers immediate cash flow with a 5.86% cap rate. Located in a Transit Priority Area (TPA), it also has significant upside potential, with zoning allowing for up to 16 additional units. A feasibility study is available, detailing costs and timelines for expansion and garage conversions. Less than a block from a park and school, this gated property is ideal for investors, multigenerational living, or owner-occupancy with rental income. Don't miss this rare opportunity to acquire a stabilized asset with future growth potential.

Location

State CA

County San Diego

Community North Park

Area East San Diego (92105)

Building/Complex Name 39th St Apartments

Zoning RM 2-5

Interior

Heating Natural Gas

Cooling Zoned Area(s)

Appliance Zoned Areas

Air Conditioning Zoned Area(s)

Exterior

Exterior Feature Wood/Stucco

Parking Features Unit1:Assigned, Attached Unit2:Assigned, Attached Unit3:Assigned, Attached Unit4:Assigned, Attached

Garage Spaces 4.0

Fence Full

Community Features Gated Community, Laundry Facilities, Recreation Area

Complex Features Gated Community, Laundry Facilities, Recreation Area

Roof Type Composition

Complex Features Gated Community, Laundry Facilities, Recreation Area

Building

Story 2

Lot Size Range 4000-7499 SF

Sewer Sewer Connected

Water Meter on Property

Level or Stories 2 Story

Others

Miscellaneous Dog Run

Acceptable Financing Cash, Conventional, FHA, VA

Space Rent $2,995

Listing Terms Cash, Conventional, FHA, VA

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Listed by Seth Struiksma • Compass

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

4114 39th St San Diego, CA 92105

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

Get More Information