Listing ID: 230004330
Price: $6,570,000
Status: ACTIVE
Address: 3864 35th Street
City: San Diego
State: California
Postal Code: 92104
County: San Diego
San Diego
•Immediate 38% upside by marking rents to market •Additional increase in revenue through the implementation of a utility reimbursement program •1986 Construction / Newly Renovated •Less than one mile from Interstate-8, Interstate-805, and Interstate-15 the property offers great accessibility to all San Diego employment hubs •Cured of deferred maintenance, allowing for less capital upfront •Turnkey asset Las Palmas is a centrally located and newly renovated 18- unit trophy asset, set in between the walkable North Park and Cherokee Point submarkets within San Diego, CA. Built in 1986, the elevator served building consists of 1 studio, 6-one bedroom, and 11 two-bedroom units. The property exterior has been fully renovated within the past year including all new stucco/paint, new black trimmed vinyl windows, wood paneling highlights, roof repairs, and more. More than half of the interiors have been extensively renovated as well, including all new LVP throughout, new white/green shaker cabinets, all new appliances, quartz countertops, tiled in showers, private fenced in patios on the ground floor, undermount sinks, etc.

Primary Features

County: San Diego
Price Before Reduction: 6660000
Price Reduction Date: 2023-03-27T22:07:36+00:00
Property Type: Commercial-Residential Income


Number of Baths (1): 1
Number of Baths (2): 1
Number of Baths (3): 1
Number of Bedrooms (2): 1
Number of Bedrooms (3): 2
Number of Stories: 3
SqFt of Improvement: 1


Entry Only: No
Number of Buildings: 1
Number of Units: 18
Number of Units (1): 1
Number of Units (2): 6
Number of Units (3): 11


Country: United States
Market Area: Metro Uptown
Zip/Area: NORTH PARK (92104)


Age: 1986
Amenities: Other/Remarks
Have: Units
Mandatory Remarks: None Known


Actual Gross Scheduled Income: 361000
Actual Operating Expense: 143000
Price/Unit: 365000
Sale/Rent: For Sale
Sales Restrictions: N/K
Unit Rent (1): 1700
Unit Rent (2): 1616
Unit Rent (3): 1686

Zoning Info

Area Info

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Listing courtesy of NorthMarq Multifamily

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