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4629 Alabama St, San Diego, CA 92116-2755 4629 Alabama St 8 Unit Apartment Building $3,150,000 ($393,750/Unit) 3.38% Cap Rate San Diego, CA 92116
INVESTMENT HIGHLIGHTS
- Seller Financing Available - Seller will carry back $2.1 Million at 4.25% interest only.
- Supreme location just south of the vibrant Adams Avenue in University Heights - one of San Diego’s most desirable rental submarkets
- Regarded as a Walker's Paradise with a Walk Score of 94 by WalkScore.com
- Spacious and versatile 2,200 SF 5-bed, 3-bath unit — a rare opportunity with strong owner-occupant appeal and high rental income potential
- Attractive unit mix of one-, two-, and five-bedroom units catering to diverse tenant profiles
- Easy access to major employment centers including Mission Valley and Downtown San Diego Proximity to public transit, parks, restaurants, nightlife
EXECUTIVE SUMMARY
We are pleased to present 4629-35 Alabama Street, an 8-unit multifamily property located in the heart of University Heights, one of San Diego’s most sought-after rental neighborhoods. The property features a desirable unit mix consisting of two (2) one-bedroom/one-bathroom units, five (5) two-bedroom/one-bathroom units, and one (1) five-bedroom/three-bathroom unit. This balanced configuration appeals to a wide range of renters, from young professionals to families, offering flexibility and strong leasing potential.
University Heights is a vibrant, centrally located community known for its walkability, eclectic dining options, and proximity to major employment centers. Its unique blend of historic charm and modern amenities makes it a magnet for long-term residents and new arrivals alike. The neighborhood’s connectivity to Mission Valley, Hillcrest, and Downtown San Diego via major freeways and transit corridors further enhances its appeal to renters seeking convenience and lifestyle.
4629-35 Alabama Street presents a compelling opportunity for investors to acquire a well-maintained asset in a high-demand market. With strategic renovations and management, there is significant potential to enhance value and achieve competitive rental rates
University Heights is a vibrant, centrally located community known for its walkability, eclectic dining options, and proximity to major employment centers. Its unique blend of historic charm and modern amenities makes it a magnet for long-term residents and new arrivals alike. The neighborhood’s connectivity to Mission Valley, Hillcrest, and Downtown San Diego via major freeways and transit corridors further enhances its appeal to renters seeking convenience and lifestyle.
4629-35 Alabama Street presents a compelling opportunity for investors to acquire a well-maintained asset in a high-demand market. With strategic renovations and management, there is significant potential to enhance value and achieve competitive rental rates
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $3,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $393,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 3.38% | Building Size | 6,545 SF |
| Gross Rent Multiplier | 16.26 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1968 |
| Property Type | Multifamily | Parking Ratio | 1.38/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $3,150,000 |
| Price Per Unit | $393,750 |
| Sale Type | Investment |
| Cap Rate | 3.38% |
| Gross Rent Multiplier | 16.26 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,545 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.38/1,000 SF |
| Zoning | R3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,031 | 375 |
| 2+1 | 5 | $1,849 | 725 |
| 5+3 | 1 | $3,144 | 2,170 |
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Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 445-061-08 | Improvements Assessment | $142,291 |
| Land Assessment | $39,240 | Total Assessment | $181,531 |
PROPERTY TAXES
Parcel Number
445-061-08
Land Assessment
$39,240
Improvements Assessment
$142,291
Total Assessment
$181,531
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4629 Alabama St, San Diego, CA 92116-2755 | 4629 Alabama St
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