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3753-3759 42nd St 5 Unit Apartment Building $1,600,000 ($320,000/Unit) 3.95% Cap Rate San Diego, CA 92105
Investment Highlights
- Diverse unit mix, one 4 bedroom, one 2 bedroom, one 1 bedroom, and two studio units, appealing to a wide range of renters
- Individually metered for gas and electric, keeping operations simple and expenses predictable
- Two gated parking spaces in the rear of the property
- Excellent freeway access via I 15 and I 805, with a short commute to major San Diego employment centers
Executive Summary
We are pleased to presenet this 5 unit investment opportunity is located in the heart of National City, just minutes from Downtown San Diego and with convenient access to the I 5 and I 805 freeways for outstanding regional connectivity. Built in 1955, the property features one studio and four one bedroom, one bathroom units totaling approximately 2,272 square feet on a 4,827 square foot lot. Each unit is individually metered for gas and electric, while water and trash are included in rent, giving a new owner a clean, straightforward operating profile with predictable expenses.
The property's classic mid century layout and efficient floor plans offer a strong foundation for light value add improvements, with current rents already close to market and additional upside available through targeted updates to interiors and curb appeal. National City continues to attract strong investor interest thanks to its affordability, ongoing redevelopment along National City Boulevard and the Mile of Cars corridor, and its proximity to major employment centers in Downtown San Diego and Chula Vista. With dependable in place income and a clear path to further rent growth, this is a strong addition to any multifamily portfolio. For financial details or to schedule a tour, contact Ivan Del Muro-Garcia at 760.448.2451 or Eric von Bluecher at 760.929.7846
The property's classic mid century layout and efficient floor plans offer a strong foundation for light value add improvements, with current rents already close to market and additional upside available through targeted updates to interiors and curb appeal. National City continues to attract strong investor interest thanks to its affordability, ongoing redevelopment along National City Boulevard and the Mile of Cars corridor, and its proximity to major employment centers in Downtown San Diego and Chula Vista. With dependable in place income and a clear path to further rent growth, this is a strong addition to any multifamily portfolio. For financial details or to schedule a tour, contact Ivan Del Muro-Garcia at 760.448.2451 or Eric von Bluecher at 760.929.7846
Property Facts
| Price | $1,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $320,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.95% | Building Size | 3,000 SF |
| Gross Rent Multiplier | 14.44 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1937 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Zoning | R4 - Buyer to verify. | ||
| Price | $1,600,000 |
| Price Per Unit | $320,000 |
| Sale Type | Investment |
| Cap Rate | 3.95% |
| Gross Rent Multiplier | 14.44 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1937 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | R4 - Buyer to verify. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 275 |
| 1+1 | 1 | - | 525 |
| 2+1 | 1 | - | 925 |
| 3+2 | 1 | - | 1,000 |
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Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 471-632-08 | Improvements Assessment | $328,093 |
| Land Assessment | $754,613 | Total Assessment | $1,082,706 |
Property Taxes
Parcel Number
471-632-08
Land Assessment
$754,613
Improvements Assessment
$328,093
Total Assessment
$1,082,706
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3753-3759 42nd St
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