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4985 Narragansett Ave 3 Unit Apartment Building $2,595,000 ($865,000/Unit) 3.70% Cap Rate San Diego, CA 92107
Investment Highlights
- ONE BLOCK TO PIER & BEACHES,
- SEE STVR VALUES!
- EACH UNIT HAS A PRIVATE YARD.
Executive Summary
Smell the Salt! South Ocean Beach Triplex only a super short block to beaches & pier, half a block to live music, award-winning (dog-friendly!) restaurants and shopping. 3 units consisting of (1) 2 bedroom-2 full bath, and (2) 1 bedroom, 1 bath spacious units, all with direct entry, private yards, upgraded windows, granite counters, independent electric meters, 2 separate One-car garages +3 On-Site spaces.
***Check out short term values. Nearby: Robb Sports Field, Dog Beach, Sunset Cliffs, Short drive to SAN(San Diego International Airport), Balboa Park, Mission Bay, Mission Beach, La Jolla Shores, Torrey Pines Hiking & Golf Courses.
*[Buyer to verify all].
***Check out short term values. Nearby: Robb Sports Field, Dog Beach, Sunset Cliffs, Short drive to SAN(San Diego International Airport), Balboa Park, Mission Bay, Mission Beach, La Jolla Shores, Torrey Pines Hiking & Golf Courses.
*[Buyer to verify all].
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$100,560
|
$47.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$100,560
|
$47.89
|
| Taxes |
$6,400
|
$3.05
|
| Operating Expenses |
$2,700
|
$1.29
|
| Total Expenses |
$9,100
|
$4.33
|
| Net Operating Income |
$91,460
|
$43.55
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $100,560 |
| Annual Per SF | $47.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $100,560 |
| Annual Per SF | $47.89 |
| Taxes | |
|---|---|
| Annual | $6,400 |
| Annual Per SF | $3.05 |
| Operating Expenses | |
|---|---|
| Annual | $2,700 |
| Annual Per SF | $1.29 |
| Total Expenses | |
|---|---|
| Annual | $9,100 |
| Annual Per SF | $4.33 |
| Net Operating Income | |
|---|---|
| Annual | $91,460 |
| Annual Per SF | $43.55 |
Property Facts
| Price | $2,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $865,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.70% | Building Size | 2,100 SF |
| Gross Rent Multiplier | 28 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1948/2015 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Zoning | RM-2-4 - SEE ADU POSSIBILITIES | ||
| Price | $2,595,000 |
| Price Per Unit | $865,000 |
| Sale Type | Investment |
| Cap Rate | 3.70% |
| Gross Rent Multiplier | 28 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,100 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1948/2015 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | RM-2-4 - SEE ADU POSSIBILITIES |
Amenities
Unit Amenities
- Sprinkler System
- Yard
- Lawn
- Patio
Site Amenities
- 24 Hour Access
- Fenced Lot
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $3,595 | 800 |
| 1+1 | 2 | $2,393 | 550 |
1 1
Walk Score®
Walker's Paradise (91)
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4985 Narragansett Ave
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