4114 39th St new Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92105
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
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
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
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