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4053 Cherokee Ave 9 Unit Apartment Building $2,495,000 ($277,222/Unit) 5.09% Cap Rate San Diego, CA 92104
Investment Highlights
- Well located
- Storage & laundry on site
- High occupancy location
- Great unit mix breakdown
- Further rental upside
Executive Summary
4053 Cherokee Ave is a renovated 9-unit apartment complex in the North Park neighborhood of San Diego. Featuring six large 1BD/1BA units (approx 575 sq ft) and three 2BD/1BA units (approx 820 sq ft), this property provides future ownership with a safe investment opportunity to coincide with interest rates coming down.
Consistently 100% occupied, 4053 Cherokee appeals to renters due to its proximity to shops, restaurants and easy access to the freeways. Over time, the exterior renovations have included but are not limited to: paint, fencing, BBQ, table, landscaping, mailboxes, lighting. Interior renovations: White cabinets, grey quartz countertops, stainless steel appliances, paint, fixtures, hardware, lighting, closet doors, security doors, bath vanity, medicine cabinets. Prior ownership installed new windows. Amenities: BBQ area, courtyard, 9 parking spaces, onsite laundry (leased), storage, picnic area, controlled access.
Consistently 100% occupied, 4053 Cherokee appeals to renters due to its proximity to shops, restaurants and easy access to the freeways. Over time, the exterior renovations have included but are not limited to: paint, fencing, BBQ, table, landscaping, mailboxes, lighting. Interior renovations: White cabinets, grey quartz countertops, stainless steel appliances, paint, fixtures, hardware, lighting, closet doors, security doors, bath vanity, medicine cabinets. Prior ownership installed new windows. Amenities: BBQ area, courtyard, 9 parking spaces, onsite laundry (leased), storage, picnic area, controlled access.
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 | $2,495,000 | Building Class | C |
| Price Per Unit | $277,222 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,908 SF |
| Cap Rate | 5.09% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.3 | No. Stories | 2 |
| No. Units | 9 | Year Built/Renovated | 1964/2017 |
| Property Type | Multifamily | Parking Ratio | 1.52/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-1-2 - Multi-Family | ||
| Price | $2,495,000 |
| Price Per Unit | $277,222 |
| Sale Type | Investment |
| Cap Rate | 5.09% |
| Gross Rent Multiplier | 13.3 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,908 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2017 |
| Parking Ratio | 1.52/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-1-2 - Multi-Family |
Amenities
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,806 | 575 |
| 2+1 | 3 | $1,993 | 820 |
1 1
Walk Score®
Walker's Paradise (91)
Property Taxes
| Parcel Number | 447-412-08 | Total Assessment | $2,428,123 (2025) |
| Land Assessment | $1,103,692 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,324,431 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
447-412-08
Land Assessment
$1,103,692 (2025)
Improvements Assessment
$1,324,431 (2025)
Total Assessment
$2,428,123 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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4053 Cherokee Ave
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