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2434-2438 Broadway 4 Unit Apartment Building $2,950,000 ($737,500/Unit) 4.78% Cap Rate San Diego, CA 92102
Executive Summary
Rare opportunity to acquire one of Golden Hill's most distinctive boutique multifamily investments. This fully renovated 1932 Spanish-style fourplex has undergone an extensive fully permitted renovation while preserving its historic character and architectural integrity.
The property consists of four luxury residences surrounding professionally designed resort-style grounds inspired by boutique hospitality concepts. In addition, the property includes an income-producing Airstream creating a unique supplemental revenue stream.
Investors benefit from stable in-place income, exceptionally low operating expenses, and an easy-to-manage asset requiring minimal deferred maintenance. Every major component has been modernized, creating a true turnkey investment.
Located on one of Golden Hill's most desirable historic streets just blocks from Balboa Park and minutes to Downtown San Diego, the property attracts high-quality tenants seeking walkability, historic charm and luxury finishes.
The property consists of four luxury residences surrounding professionally designed resort-style grounds inspired by boutique hospitality concepts. In addition, the property includes an income-producing Airstream creating a unique supplemental revenue stream.
Investors benefit from stable in-place income, exceptionally low operating expenses, and an easy-to-manage asset requiring minimal deferred maintenance. Every major component has been modernized, creating a true turnkey investment.
Located on one of Golden Hill's most desirable historic streets just blocks from Balboa Park and minutes to Downtown San Diego, the property attracts high-quality tenants seeking walkability, historic charm and luxury finishes.
Property Facts
| Price | $2,950,000 | Apartment Style | Garden |
| Price Per Unit | $737,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.78% | Building Size | 2,810 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 16 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1970/2026 |
| Property Type | Multifamily | Parking Ratio | 1.06/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C | ||
| Price | $2,950,000 |
| Price Per Unit | $737,500 |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 16 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,810 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2026 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | C |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 700 |
| 2+1 | 2 | - | - |
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Moderately walkable
70/100
Exceptionally drivable
100/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 534-272-16 | Improvements Assessment | $530,604 |
| Land Assessment | $1,220,389 | Total Assessment | $1,750,993 |
Property Taxes
Parcel Number
534-272-16
Land Assessment
$1,220,389
Improvements Assessment
$530,604
Total Assessment
$1,750,993
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2434-2438 Broadway