Marcus & Millichap is pleased to present 4046-4054 43rd Street located in San Diego, California. The 22-unit property was built in 1961 and has been well maintained and consistently updated by the current long term owner/operator. The apartments are situated on a 0.35 acre site comprised of two separate 7,000 square foot parcels of land. The property consists of two mirrored buildings creating a central, controlled access, courtyard. The 2 – two story buildings offer a competitive unit mix comprised of 18 - 1 bed/1 bath units in 2 efficient and functional floor plans and 4 - 2 bed/1 bath totaling 11,288 rentable square feet. Residents enjoy the on-site parking and laundry facilities that are offered as well.
The 43rd Street Apartments are located at ground zero of City Height’s new urban core with several recently developed mid-rise mixed-use office, retail, and housing surrounding the 22 units. The property is located in the bustling City Heights neighborhood of San Diego. Residents enjoy living just steps from 43rd Street, Fairmont Avenue, University Avenue just blocks from the I-15 freeway. These major east-west /north-south thoroughfares and transit hubs through eastern San Diego provide quick and easy access for residents to jobs, education, parks, public facilities, and services. Countless retailers, restaurants, and nightlife are just steps away from the property in what has become the downtown/CBD of East San Diego. This prime location at the core of this new urban village earns 43rd Street Apartments a walk score of 93 points, considered a “walkers Paradise.”
43rd Street Apartments offers an investor the opportunity to experience strong operations in a sound and functional property with proven occupancy history and considerable immediate rental upside. The rapidly gentrifying neighborhood combined with the stability and revenue security of workforce housing are a winning combination. Offered free-and-clear of debt allowing investors the opportunity to take advantage of today’s historically low interest rates.
