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4627 Park Dr 4 Unit Apartment Building $3,699,000 ($924,750/Unit) 3.68% Cap Rate Carlsbad, CA 92008
Investment Highlights
- Private boat dock
- Turn-key, newly renovated multi unit
- Each unit has a private balcony
- Waterfront investment
Executive Summary
A rare opportunity on the waterfront of the Carlsbad Lagoon - a fully renovated Mid-Century 4-plex with a private boat dock in one of Carlsbad’s most peaceful coastal settings, featuring three 1-bedroom/1-bath residences and one 2-bedroom/1-bath residence, each with private patios and balconies. Each unit captures direct water views and offers private outdoor space, blending seamless indoor-outdoor living just steps from the lagoon beach and minutes to Carlsbad Village. Interiors are thoughtfully updated with custom teak cabinetry, quartz countertops, Italian porcelain tile, high-end appliances, reinforced balconies, and IPE wood decking. Fully furnished and turnkey, the property includes a private gated-entry unit ideal for an owner-user. Zoned for 30+ day rentals with potential to add two units above the garage, this is a distinctive waterfront investment with lifestyle appeal and long-term upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$190,800
|
$83.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$190,800
|
$83.83
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$54,745
|
$24.05
|
| Net Operating Income |
$136,055
|
$59.78
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $190,800 |
| Annual Per SF | $83.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $190,800 |
| Annual Per SF | $83.83 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $54,745 |
| Annual Per SF | $24.05 |
| Net Operating Income | |
|---|---|
| Annual | $136,055 |
| Annual Per SF | $59.78 |
Property Facts
| Price | $3,699,000 | Apartment Style | Low-Rise |
| Price Per Unit | $924,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 3.68% | Building Size | 2,276 SF |
| Gross Rent Multiplier | 19.38 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2022 |
| Property Subtype | Apartment | Parking Ratio | 2.64/1,000 SF |
| Zoning | R-3 | ||
| Price | $3,699,000 |
| Price Per Unit | $924,750 |
| Sale Type | Investment |
| Cap Rate | 3.68% |
| Gross Rent Multiplier | 19.38 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 2,276 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2022 |
| Parking Ratio | 2.64/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Heating
- Ceiling Fans
- Kitchen
- Oven
- Stainless Steel Appliances
- Range
- Views
- Freezer
- Linen Closet
- Patio
Site Amenities
- Fenced Lot
- Laundry Facilities
- Waterfront
- Trash Pickup - Curbside
- Wi-Fi
- Dock
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
Property Taxes
| Parcel Number | 207-150-33 | Improvements Assessment | $364,140 |
| Land Assessment | $2,601,000 | Total Assessment | $2,965,140 |
Property Taxes
Parcel Number
207-150-33
Land Assessment
$2,601,000
Improvements Assessment
$364,140
Total Assessment
$2,965,140
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4627 Park Dr
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