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4416 34th St 2 Unit Apartment Building $1,050,000 ($525,000/Unit) San Diego, CA 92116
Investment Highlights
- One Unit Vacant - Can be Delivered Fully Vacant
- Owner-Occupant Opportunity: Live in one unit and offset your mortgage with rental income
- Heavy Value-Add Opportunity - ideal for renovation or repositioning
- Two Detached Units with private yards, offering strong tenant appeal and privacy
- Airbnb Opportunity for Increased Income
- Development Potential on a 6,234 SF lot
Executive Summary
FLIP OPPORTUNITY WITH THE ABILITY TO BE DELIVERED FULLY VACANT. 4416-18 34th St offers immediate upside as a renovation play or future development opportunity in the heart of Normal Heights. Situated on a 6,234 SF lot, the property features two detached structures with their own private yards. The front 2BD unit (1930s) and rear 1BD unit (1950s) are both in value-add condition, with the rear unit currently vacant. The property offers flexibility for an owner-occupant or short-term rental strategy. Recent improvements include electrical upgrades to both units and a newer roof on the rear structure. The property is serviced by one water meter, two electric meters, and includes two storage spaces.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$69,600
|
$47.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,088
|
$1.41
|
| Effective Gross Income |
$67,512
|
$45.59
|
| Taxes |
$13,125
|
$8.86
|
| Operating Expenses |
$6,726
|
$4.54
|
| Total Expenses |
$19,851
|
$13.40
|
| Net Operating Income |
$47,661
|
$32.18
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $69,600 |
| Annual Per SF | $47.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,088 |
| Annual Per SF | $1.41 |
| Effective Gross Income | |
|---|---|
| Annual | $67,512 |
| Annual Per SF | $45.59 |
| Taxes | |
|---|---|
| Annual | $13,125 |
| Annual Per SF | $8.86 |
| Operating Expenses | |
|---|---|
| Annual | $6,726 |
| Annual Per SF | $4.54 |
| Total Expenses | |
|---|---|
| Annual | $19,851 |
| Annual Per SF | $13.40 |
| Net Operating Income | |
|---|---|
| Annual | $47,661 |
| Annual Per SF | $32.18 |
Property Facts
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 581 |
| 2+1 | 1 | - | 900 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 447-543-22 | Total Assessment | $226,974 (2025) |
| Land Assessment | $159,290 (2025) | Annual Taxes | $13,125 ($8.86/SF) |
| Improvements Assessment | $67,684 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
447-543-22
Land Assessment
$159,290 (2025)
Improvements Assessment
$67,684 (2025)
Total Assessment
$226,974 (2025)
Annual Taxes
$13,125 ($8.86/SF)
Tax Year
2026
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4416 34th St
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