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4655 33rd St 9 Unit Apartment Building $2,800,000 ($311,111/Unit) 4.50% Cap Rate San Diego, CA 92116
Investment Highlights
- Excellent Location - Walk Score 95
- Abundant parking
- Rarely Seen Premium construction material throughout
- downstairs units offer private patios
Executive Summary
Don't miss this premium asset in A+ location (Walk Score of 95) steps from Adams Avenue in the heart of Normal Heights. Capture easy upside without heavy lifting as-is. Interior mechanical systems are of excellent quality, including copper plumbing and schedule 80 ABS throughout. Other premium building attributes include pitched roofing, generous allotted parking, and the ability to tap into existing infrastructure to upgrade in-unit storage areas with washer/dryer hookups with ease. Further opportunity exists in ADU conversion of currently enclosed two-car garage. Come see for yourself why this property has not changed hands in 30+ years.
Financial Summary (Actual - 2025) 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 - 2025) 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 | $2,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $311,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.50% | Building Size | 4,968 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 97% |
| Gross Rent Multiplier | 13.9 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 2.21/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM 1-2 - Medium Density multiple dwelling residences allowed 1 Unit per 2500 SF | ||
| Price | $2,800,000 |
| Price Per Unit | $311,111 |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.9 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,968 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 2.21/1,000 SF |
| Zoning | RM 1-2 - Medium Density multiple dwelling residences allowed 1 Unit per 2500 SF |
Amenities
Unit Amenities
- Balcony
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $2,000 | 450 - 500 |
| 2+2 | 2 | $2,750 | 829 - 900 |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 439-441-11 | Total Assessment | $1,430,013 |
| Land Assessment | $684,099 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $745,914 | Tax Year | 2025 |
Property Taxes
Parcel Number
439-441-11
Land Assessment
$684,099
Improvements Assessment
$745,914
Total Assessment
$1,430,013
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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4655 33rd St
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