3845 41St St San Diego, CA 92105

This 10-unit apartment building in San Diego, CA, presents a compelling value-add investment opportunity. Located at 3845 41st Street, 92105, this property boasts a diverse unit mix including one 3-bedroom/1-bathroom, two 2-bedroom/1-bathroom, six 1-bedroom/1-bathroom, and one studio unit. Four single-car garages and additional surface parking are also available. The property comprises seven buildings totaling 5,057 square feet, situated on a 13,846 square foot lot. Constructed in 1925, the building is a two-story Class C property currently operating at 100% occupancy, generating a Net Operating Income (NOI) of $100,360. The asking price is $1,750,000, representing $175,000 per unit and $346.05 per square foot. A pro-forma analysis projects a significant increase in NOI to $161,198 and a cap rate of 9.21%, highlighting the substantial upside potential for a savvy investor. This property offers a rare chance to acquire a well-located, multi-unit building in a thriving San Diego neighborhood with the potential for substantial returns through value-add improvements. The current 5.73% cap rate provides a solid foundation for future growth.