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3914-3916 Adams Ave 2 Unit Apartment Building $1,500,000 ($750,000/Unit) 3.16% Cap Rate San Diego, CA 92116
Investment Highlights
- Prime Normal Heights Location on Adams Ave
- 40% Upside in Rental Income
- (8) Off-Street Parking Spaces & (1) 2 Car Garage
- Diverse Unit Mix with Commercial & Residential Units
- Large Renovated Commercial Space
- Surrounded by Shops, Restaurants, Bars, and Entertainment
Executive Summary
**3 Unit Mixed Use Opportunity in Prime Normal Heights** Located on Adams Ave and surrounded by the neighborhood’s best shops, restaurants, bars, and entertainment. The property offers a diverse mixed-use layout, including one (1) large renovated commercial space, one (1) 2BD/1BA residential unit, and one (1) 1BD/1BA residential unit, supported by eight (8) off-street parking spaces and (1) detached 2-car garage. There is 40% upside in rental income, with additional upside through a potential garage ADU conversion. Perfect for an owner user or an investor looking to take advantage of an ADU opportunity in a prime Mid-City location.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$77,460
|
$28.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,324
|
$0.84
|
| Effective Gross Income |
$75,136
|
$27.23
|
| Taxes |
$18,767
|
$6.80
|
| Operating Expenses |
$8,987
|
$3.26
|
| Total Expenses |
$27,754
|
$10.06
|
| Net Operating Income |
$47,382
|
$17.17
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $77,460 |
| Annual Per SF | $28.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,324 |
| Annual Per SF | $0.84 |
| Effective Gross Income | |
|---|---|
| Annual | $75,136 |
| Annual Per SF | $27.23 |
| Taxes | |
|---|---|
| Annual | $18,767 |
| Annual Per SF | $6.80 |
| Operating Expenses | |
|---|---|
| Annual | $8,987 |
| Annual Per SF | $3.26 |
| Total Expenses | |
|---|---|
| Annual | $27,754 |
| Annual Per SF | $10.06 |
| Net Operating Income | |
|---|---|
| Annual | $47,382 |
| Annual Per SF | $17.17 |
Property Facts
| Price | $1,500,000 | Apartment Style | Garden |
| Price Per Unit | $750,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 3.16% | Building Size | 2,759 SF |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 2.9/1,000 SF |
| Zoning | RS-1-7 - Residential Zoning | ||
| Price | $1,500,000 |
| Price Per Unit | $750,000 |
| Sale Type | Investment |
| Cap Rate | 3.16% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 2,759 SF |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 2.9/1,000 SF |
| Zoning | RS-1-7 - Residential Zoning |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 440-520-11 | Total Assessment | $889,360 |
| Land Assessment | $648,993 | Annual Taxes | $18,767 ($6.80/SF) |
| Improvements Assessment | $240,367 | Tax Year | 2025 |
Property Taxes
Parcel Number
440-520-11
Land Assessment
$648,993
Improvements Assessment
$240,367
Total Assessment
$889,360
Annual Taxes
$18,767 ($6.80/SF)
Tax Year
2025
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3914-3916 Adams Ave