4354 38th Street, San Diego CA, 92105

Sold

4354 38th Street

San Diego CA, 92105

$1,795,000

$339.58 per sqft

Sold

5,286 sqft

Commercial

Listed by Dane Lafontaine with Big Block Realty, Inc. 800-550-3209

Located in the high-demand Metro San Diego rental market, this 8 unit building offers tremendous income upside for long-term hold. Situated on a 6,254 square foot lot, with a mix of four 2 bedroom / 1 bath units and four 1 bedroom / 1 bath units. On site laundry room, 12 parking spaces inclusive of 4 garages and secured courtyard entry for all. This is an ideal property for investor seeking asset in high-demand rental market with predictable cash flows and relatively immediate upside to rental revenue with proper management going forward. All tenancy is month to month. Rents have been historically under-performing due to previous owner management. Recent placement under professional management has yielded $1,175 and $1,325 monthly rent for 1 bed units contracted 5/1/2017 and 8/16/2017 respectively. Those two units received minor reconditioning in the way of paint and mid-grade hard surface flooring to yield current rents. Market rents are conservatively $1,325 -$1,425+ on 1 bed and $1,495-$1,595+ on 2 bed units for the area. Projected cap rate of 7.00% is very realistic. Trustee sale. Priced to move. No problem tenancy or litigation. Hurry! Amenities: None Exterior: ,,

170060930

MLSⓇ ID

November 28, 2017

Listed

February 10, 2024

Updated

Map

4354 38th Street
San Diego CA, 92105

Interior Features

Fireplace: No
Cooling: Yes
Cooling Description: Wall/Window Unit(s)
Heating: Yes
Heating Description: Wall Furnace

Exterior/Building Features

Lot Size: 0.12 Acres
Roof: Tar/Gravel

Other Property Details

Area Name: 92105 - East San Diego
Days on Market: 17
Garage: No
Parking Total: 0
View: No
County: San Diego
Pool: No
Buyer Agency Compensation: 2%

Listing Contact: 800-550-3209

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/10/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 2/10/2024 at 7:08 AM UTC