Listing ID: 210014890
Price: $4,350,000
Status: Pending
Address: 4265 Altadena Ave
City: San Diego
State: California
Postal Code: 92115
County: San Diego
San Diego
CA
92115
Pleased to present for sale a 21-unit value add apartment complex in the City Heights neighborhood of San Diego. Constructed in 1963, this property rests on a 15,625 SF lot and offers 14,118 of rentable SF. 4265 Altadena Avenue, also known as Town House East, is comprised of (20) 1-Bedroom/1-Bathroom units and (1) 2-Bedroom/1.5-Bathroom townhome. Amenities include off-street parking for every unit, secure gated entry, and a large underutilized communal courtyard. This property offers investors the rare opportunity to acquire a large complex with significant rental upside. City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The neighborhood is a designated opportunity zone by the U.S Department of Treasury and may offer tax benefits for investors. With a walking score of 86, the asset is steps away from some of San Diego’s most popular bars, restaurants, shops, and attractions on El Cajon Blvd and University Ave. City Heights is a neighborhood growing in popularity year after year. The increased demand for apartments in the area will continue to keep vacancy rates low and rent increases steady.

Primary Features

County: San Diego
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

Cooling: yes
Heating: yes

External

Number Of Buildings: 1
Parking Total: 23

Location

Country: US
MLS Area Major: 92115 - San Diego

Additional

Days On Market: 43
List Agent State License: 01974818
List Office State License: 00530854
Number Of Units Total: 21
Parcel Number: 4721612800

Financial

Cap Rate: 4.3
Gross Scheduled Income: 302004
Net Operating Income: 186850
Operating Expense: 106094

Zoning Info


Area Info


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Based on information from CARETS as of Tuesday, October 19th, 2021 03:56:56 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Listing courtesy of Carson Trujillo, DRE #01974818 from Marcus & Millichap
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Listing courtesy of Carson Trujillo, DRE #01974818 from Marcus & Millichap

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