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3941 Georgia St 3941 Georgia St 4 Unit Apartment Building $2,300,000 ($575,000/Unit) 3.57% Cap Rate San Diego, CA 92103
Investment Highlights
- Premium location in Hillcrest
- Value Add Opportunities
- High-End Remodel Of All Units
- Off-Street Parking
Executive Summary
3941 Georgia Street is a newly renovated 4-unit multifamily asset positioned at the crossroads of Hillcrest and North Park, one of San Diego’s most desirable rental corridors. Completed in 2024, the property underwent a comprehensive, high-end renovation including electrical, plumbing, and roof upgrades, delivering a low-maintenance, future-proof investment.
Sitting on a large lot with four single-car garages (ADU conversion potential), the property combines premium construction quality with meaningful long-term upside. With a Walk Score of 93, residents enjoy unmatched access to North Park and Hillcrest’s dining, shopping, grocery, nightlife, and major employment centers — an irreplaceable urban living experience.
Sitting on a large lot with four single-car garages (ADU conversion potential), the property combines premium construction quality with meaningful long-term upside. With a Walk Score of 93, residents enjoy unmatched access to North Park and Hillcrest’s dining, shopping, grocery, nightlife, and major employment centers — an irreplaceable urban living experience.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,300,000 | Building Class | B |
| Price Per Unit | $575,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,478 SF |
| Cap Rate | 3.57% | Average Occupancy | 100% |
| Gross Rent Multiplier | 17.13 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1950/2024 |
| Property Type | Multifamily | Parking Ratio | 1.6/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM-3-9 - Residential Multi-Family with specific density and regulations | ||
| Price | $2,300,000 |
| Price Per Unit | $575,000 |
| Sale Type | Investment |
| Cap Rate | 3.57% |
| Gross Rent Multiplier | 17.13 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 2,478 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2024 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-3-9 - Residential Multi-Family with specific density and regulations |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,795 | 1,060 |
| 1+1 | 3 | $2,348 | 400 - 520 |
1 1
Walk Score®
Walker's Paradise (93)
Property Taxes
| Parcel Number | 445-671-09 | Total Assessment | $1,524,900 (2025) |
| Land Assessment | $1,224,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $300,900 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
445-671-09
Land Assessment
$1,224,000 (2025)
Improvements Assessment
$300,900 (2025)
Total Assessment
$1,524,900 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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