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3942 8th Ave 31 Unit Apartment Building $4,185,000 ($135,000/Unit) 5.06% Cap Rate San Diego, CA 92103
EXECUTIVE SUMMARY
WLA 3942 on 8th is an existing Single Room Occupancy (SRO) property with 31 units strategically located in the uptown neighborhood of Hillcrest, one of San Diego’s most coveted urban locations.
Built in 1925, the property feature small units with a combination of shared-bathrooms and rooms with private bathrooms. There are common laundry facilities and a gated landscaped yard.
The property is located one-block from the Wholefoods Market and dozens of eateries and restaurants. The Trader Joe’s / Ralph's shopping center is located less than ¼ mile away on University Avenue. WLA 3942 on 8th is walking distance to 10 bus lines, including the new Rapid Bus Transit, which offers high-speed, limited stop service between San Diego State University and downtown San Diego. Hillcrest is served by the region’s highest level of bus service.
Centrally located between downtown San Diego, Mission Valley, and North Park, Hillcrest has quick access to freeways, transit, and surrounding neighborhoods and major employment centers.
Built in 1925, the property feature small units with a combination of shared-bathrooms and rooms with private bathrooms. There are common laundry facilities and a gated landscaped yard.
The property is located one-block from the Wholefoods Market and dozens of eateries and restaurants. The Trader Joe’s / Ralph's shopping center is located less than ¼ mile away on University Avenue. WLA 3942 on 8th is walking distance to 10 bus lines, including the new Rapid Bus Transit, which offers high-speed, limited stop service between San Diego State University and downtown San Diego. Hillcrest is served by the region’s highest level of bus service.
Centrally located between downtown San Diego, Mission Valley, and North Park, Hillcrest has quick access to freeways, transit, and surrounding neighborhoods and major employment centers.
PROPERTY FACTS
| Price | $4,185,000 | Property Subtype | Apartment |
| Price Per Unit | $135,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.06% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 8.4 | Building Size | 5,676 SF |
| No. Units | 31 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1925 |
| Zoning | CC-3-8 | ||
| Price | $4,185,000 |
| Price Per Unit | $135,000 |
| Sale Type | Investment |
| Cap Rate | 5.06% |
| Gross Rent Multiplier | 8.4 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 5,676 SF |
| No. Stories | 4 |
| Year Built | 1925 |
| Zoning | CC-3-8 |
AMENITIES
SITE AMENITIES
- Property Manager on Site
- Walking/Biking Trails
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 31 | $1,338 | 95 - 140 |
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 444-683-12 | Improvements Assessment | $447,372 |
| Land Assessment | $2,705,040 | Total Assessment | $3,152,412 |
PROPERTY TAXES
Parcel Number
444-683-12
Land Assessment
$2,705,040
Improvements Assessment
$447,372
Total Assessment
$3,152,412
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3942 8th Ave
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