Palm Court 3736 Mississippi St 6 Unit Apartment Building $2,995,000 ($499,167/Unit) 4.19% Cap Rate San Diego, CA 92104

3736 Mississippi Street presents a rare opportunity to acquire a well-maintained, six-unit multifamily asset in the vibrant North Park neighborhood of San Diego. Built in 1986, this property has been meticulously cared for by an owner-operator who prioritized quality materials and long-lasting improvements. The building offers a desirable unit mix with strong in-place rents, zero deferred maintenance, and a RUBS program already implemented, which ensures strong operational performance from day one.
An exceptional feature includes four on-site single-car garages with ADU conversion potential, creating an avenue for additional income and unit expansion while still maintaining six parking spaces—an appealing advantage in a neighborhood known for limited off-street parking. North Park continues to rank among San Diego’s most desirable rental markets, attracting tenants seeking a walkable lifestyle with proximity to eclectic retail, dining, and entertainment options. Situated near major arterials, including University Avenue and 30th Street, and within easy reach of Interstates 805 and 8, the property provides excellent access to employment hubs across the region. For investors seeking stable cash flow, long-term appreciation, and value-add opportunities in one of San Diego’s strongest submarkets, 3736 Mississippi Street stands out as an exceptional acquisition.