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4168 32nd St 10 Unit Apartment Building $3,500,000 ($350,000/Unit) 5.54% Cap Rate San Diego, CA 92104
Investment Highlights
- Upgraded investment opportunity with in-place market rents
- Sizeable floorplans with an average unit size of 745 square feet
- Abundant off-street parking for tenants
- Desirable unit mix featuring one- and two-bedroom residences
- Prime North Park location with strong walkability and rental demand
Executive Summary
We are pleased to present 4168 32nd Street, an upgraded multifamily investment opportunity ideally located in San Diego's highly sought-after North Park neighborhood. The property benefits from a premier urban location with convenient access to major employment centers, vibrant retail and dining destinations, and regional transportation corridors, supporting strong and consistent rental demand.
The property features an efficient unit mix consisting of three (3) one-bedroom/one-bathroom units, four (4) two-bedroom/one-bathroom units, and three (3) two-bedroom/two-bathroom residences with spacious floor plans averaging approximately 745 square feet. The residences have been thoughtfully updated with modern kitchens and bathrooms featuring quartz countertops, white shaker cabinetry, laminate flooring, and stainless steel appliances, including dishwashers, ranges, microwaves, and refrigerators.
Residents enjoy immediate access to North Park's renowned restaurants, boutiques, coffee shops, and entertainment while remaining just minutes from Downtown San Diego, Balboa Park, and the region's major freeway network. Combining a highly desirable location, renovated interiors, and strong in-place cash flow, 4168 32nd Street presents a compelling opportunity to acquire a well-positioned multifamily asset in one of San Diego's most sought-after urban rental markets.
The property features an efficient unit mix consisting of three (3) one-bedroom/one-bathroom units, four (4) two-bedroom/one-bathroom units, and three (3) two-bedroom/two-bathroom residences with spacious floor plans averaging approximately 745 square feet. The residences have been thoughtfully updated with modern kitchens and bathrooms featuring quartz countertops, white shaker cabinetry, laminate flooring, and stainless steel appliances, including dishwashers, ranges, microwaves, and refrigerators.
Residents enjoy immediate access to North Park's renowned restaurants, boutiques, coffee shops, and entertainment while remaining just minutes from Downtown San Diego, Balboa Park, and the region's major freeway network. Combining a highly desirable location, renovated interiors, and strong in-place cash flow, 4168 32nd Street presents a compelling opportunity to acquire a well-positioned multifamily asset in one of San Diego's most sought-after urban rental markets.
Property Facts
| Price | $3,500,000 | Building Class | C |
| Price Per Unit | $350,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 6,969 SF |
| Cap Rate | 5.54% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.25 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1972 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R-1 | ||
| Price | $3,500,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| Gross Rent Multiplier | 12.25 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,969 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Opportunity Zone |
Yes |
| Zoning | R-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $2,195 | 650 |
| 2+1 | 4 | $2,308 | 700 |
| 2+2 | 3 | $2,662 | 900 |
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Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 446-323-23 | Improvements Assessment | $955,087 |
| Land Assessment | $2,016,295 | Total Assessment | $2,971,382 |
Property Taxes
Parcel Number
446-323-23
Land Assessment
$2,016,295
Improvements Assessment
$955,087
Total Assessment
$2,971,382
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4168 32nd St