3738 Van Dyke AveSan Diego, CA 92105

This exceptional 11-unit apartment building in San Diego, CA presents a compelling investment opportunity. Located at 3738 Van Dyke Ave, 92105, this stabilized multifamily property boasts 7,584 square feet of net rentable space situated on a 10,497 square foot lot. The property comprises two buildings, each two stories high, built in 1980. The unit mix includes six two-bedroom/one-bathroom and five one-bedroom/one-bathroom units, with seven units having undergone recent remodeling. Currently operating at 100% occupancy, the property generates a strong NOI of $157,909, with a pro-forma NOI of $235,501 and a pro-forma cap rate of 7.86%. The asking price is $2,995,000, representing a price per unit of $272,272.73 and a price per square foot of $394.91. Ample parking is available with 17 spaces, including three double-car and two single-car garages, along with common laundry facilities. The property benefits from its convenient location near University Avenue's shopping and transit options, the new Fairmount Village retail center (including El Super, Starbucks, and major banks), and the City Heights Library and Police Station. The property also offers potential for accessory dwelling unit (ADU) development. A 2.98% assumable debt is available, maturing in December 2025. Please note: Do not disturb tenants or enter the property without prior authorization.