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38th Street Apartments 4337-4339 38th St 6 Unit Apartment Building $3,395,000 ($565,833/Unit) 4.02% Cap Rate San Diego, CA 92105
INVESTMENT HIGHLIGHTS
- Impeccable property with more garage parking than units
- In unit washer/dryers + fire places
- Rare 1992 original construction
- Very walkable area in core San Diego
EXECUTIVE SUMMARY
4337-39 38th St is a rare absolute trophy property. It is a Condo-Grade 1992 built and fully rehabbed asset. The property features (6) 2 Bedroom / 2 Bath units, (1) double deep garage that accommodates 2 vehicles (5) single car garages plus (6) additional off-street parking spaces. The condo grade amenities include in-unit washers and dryers, A/C, fireplaces, dishwashers, and select units that have vaulted ceilings, private balconies, and walk-out patio areas. Recent rehab of the property includes but is not limited to new kitchens, new bathrooms, quartz countertops, and fireplace surrounds, new vinyl plank flooring, a new roof, new exterior paint, new exterior and interior lighting fixtures, new modern switches, plug and wall fixtures, video surveillance system, and new automatic garages doors. This unique trophy property sits in "the wine glass" location of San Diego, a desirable and highly walkable location in the city.
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 | $3,395,000 | Apartment Style | Low-Rise |
| Price Per Unit | $565,833 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.02% | Building Size | 4,817 SF |
| Gross Rent Multiplier | 15.7 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1992/2020 |
| Property Subtype | Apartment | Parking Ratio | 2.49/1,000 SF |
| Zoning | CUPD-CT-2-4 - Allows for 1 dwelling per 600 SF of lot | ||
| Price | $3,395,000 |
| Price Per Unit | $565,833 |
| Sale Type | Investment |
| Cap Rate | 4.02% |
| Gross Rent Multiplier | 15.7 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 4,817 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1992/2020 |
| Parking Ratio | 2.49/1,000 SF |
| Zoning | CUPD-CT-2-4 - Allows for 1 dwelling per 600 SF of lot |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Vaulted Ceiling
- Refrigerator
- Range
- Tub/Shower
- Deck
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Security System
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | $3,045 | 802 |
1 1
Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 447-201-12 | Total Assessment | $3,121,200 (2025) |
| Land Assessment | $1,222,470 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,898,730 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
447-201-12
Land Assessment
$1,222,470 (2025)
Improvements Assessment
$1,898,730 (2025)
Total Assessment
$3,121,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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38th Street Apartments | 4337-4339 38th St
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