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3448 Cherokee Ave
San Diego, CA 92104
4048-50 Cherokee · Multifamily Property For Sale
·
3 Units
Investment Highlights
- Cherokee Point
- Value Add Opportunities
- Fully Leased
- Turn Key Investment
- Fully Renovated Houses
Executive Summary
Great investment opportunity to own a recently renovated Triplex in Cherokee Point with 4th 2 bed 2bath house in plans. Close proximity to downtown and Balboa Park. The Cherokee Point neighborhood is also landlocked between the 805 and 15 freeways, providing a quieter living experience compared to other parts of North Park, while still giving you easy access to all North Park has to offer including shopping, restaurants and activities. Which makes this a highly desirable location for a high performance investment. The property consists of 3 fully leased dwellings, Two 3 bedroom Houses and One 1 Bedroom. There are plans in the city for permits on an additional 2bed 2bath house. All houses have been upgraded with Newer Kitchens and Baths, LED lighting throughout, Ceiling Fans in every room, A/C and Heating, Washer and Dryer also included. This Houses are all individually Fully fenced yard and has Parking for multiple vehicles. Tenants pay all utilities. Currently priced with a 5.2 CAP. Proforma with adding the 4th dwelling will bring you over a 7 CAP. Great turnkey investment with leases plus value-add opportunities.
Property Facts
| Price Per Unit | $542,483 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.20% | Building Size | 2,915 SF |
| Gross Rent Multiplier | 14.8 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1937/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.06/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2 - Multifamily | ||
| Price Per Unit | $542,483 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| Gross Rent Multiplier | 14.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,915 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1937/2025 |
| Parking Ratio | 2.06/1,000 SF |
| Zoning | R2 - Multifamily |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Dining Room
- Family Room
- Garden
- Office
- Patio
- Large Bedrooms
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | $3,500 | 1,405 - 1,476 |
| 1+1 | 1 | $1,975 | 400 |
| 2+2 | 1 | $2,750 | 700 |
Property Taxes
| Parcel Number | 447-703-11 | Improvements Assessment | $300,000 |
| Land Assessment | $700,000 | Total Assessment | $1,000,000 |
Property Taxes
Parcel Number
447-703-11
Land Assessment
$700,000
Improvements Assessment
$300,000
Total Assessment
$1,000,000
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