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3770 42nd St 10 Unit Apartment Building $2,400,000 ($240,000/Unit) 6.10% Cap Rate San Diego, CA 92105
Investment Highlights
- 1986 Construction, Pitched Roof, Excellent Unit Mix of 1's & 2's with Rents about 10% Below Market
- Walkable Neighborhood 88/100 Walk Score
- Plenty of Off Street Parking, Gated Front & Rear Entrance
Executive Summary
Pleased to present this Garden Style 10 Unit Apartment Building Located on the Western Side of City Heights, just a few blocks from the I-15 Interstate. The Property offers a Walk Score of 88/100. Situated conveniently to several Grocery Stores & Restaurants. 3770 42nd Street offers several Elementary, Middle & High Schools within a short walk of drive. City Heights continues to improve in terms of overall property conditions and Tenant Quality Year over Year. This is the perfect "Bread & Butter" Property that attracts quality Tenants and should prove to be a quality cash flowing investment for the next owner.
The Property has been well maintained over the years by a well respected Property Management Company. The mix consists of 7 1BR/1Bath & Three 2BR/1Bath units. Nearby units are achieving rents approximately 10% higher.
The Property has been well maintained over the years by a well respected Property Management Company. The mix consists of 7 1BR/1Bath & Three 2BR/1Bath units. Nearby units are achieving rents approximately 10% higher.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$209,364
|
$39.22
|
| Other Income |
$11,100
|
$2.08
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$220,464
|
$41.30
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$68,963
|
$12.92
|
| Net Operating Income |
$151,501
|
$28.38
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $209,364 |
| Annual Per SF | $39.22 |
| Other Income | |
|---|---|
| Annual | $11,100 |
| Annual Per SF | $2.08 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $220,464 |
| Annual Per SF | $41.30 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $68,963 |
| Annual Per SF | $12.92 |
| Net Operating Income | |
|---|---|
| Annual | $151,501 |
| Annual Per SF | $28.38 |
Property Facts
| Price | $2,400,000 | Building Class | C |
| Price Per Unit | $240,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,338 SF |
| Cap Rate | 6.10% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1986/2000 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MR15B, San Diego | ||
| Price | $2,400,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,338 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2000 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | MR15B, San Diego |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,647 | 500 |
| 2+1 | 3 | $1,997 | 651 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 471-631-26 | Improvements Assessment | $1,027,855 |
| Land Assessment | $661,904 | Total Assessment | $1,689,759 |
Property Taxes
Parcel Number
471-631-26
Land Assessment
$661,904
Improvements Assessment
$1,027,855
Total Assessment
$1,689,759
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3770 42nd St
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