853 S 32nd Fourplex 853 S 32nd St 4 Unit Apartment Building $1,249,000 ($312,250/Unit) 5.90% Cap Rate San Diego, CA 92113

The subject property 853 S 32nd St consists of one detached 2bed/1ba home, one - 2bed/1bath and two - 1bed/1ba units on a 7,325 sq. foot corner lot. The units are well maintained; the detached home has a private backyard and the remainder have fenced patios/front yards. Additionaly; the property has a detached garage that could potentially be converted to an accesory dwelling unit (ADU). Rents are significantly under market providing substantial upside/value-add through rent stabilization.
The property is centrally located and resides within both the Opportunity Zone, Transit Priority Area as well as the San Diego Promise Zone providing significant tax/development benefits and strong potential for continued gentrification in the region. It is within a 5 minute drive to Downtown San Diego, PETCO Park & the Convention Center, Coronado Island, the new Gaylord Development in Chula Vista and the San Diego Naval Base.
Tenants enjoy close proximity to city transportation, trolleys and bus lines, freeway access, employment hubs, schools, entertainment venues, restaurants and the property resides just south of the newly redeveloped Rodriguez Elementary School. The central location & property features make this a great investment opportunity for a first time investor, owner occupant or seasoned developer or existing owner looking to add to their portfolio in a pocket that stands to reap the benefits of continued eastward development and gentrification.
Contact Primary Agent - Cameron Ebrahimi for all inquiries.
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