3525 Indiana StSan Diego, CA 92103

Property Details for 3525 Indiana St

Year built

2019

Lot size

0.54 AC

Property size (Sq ft)

22,032 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 23-unit apartment building, constructed in 2019, presents a compelling investment opportunity in San Diego's desirable North Park neighborhood. Boasting 22,032 square feet on a 0.54-acre lot, the property features high-quality construction and finishes. The building offers 21 garage spaces (including 5 EV charging stations) and 7 carport spaces. Currently enjoying high occupancy with low turnover, rents are approximately $100 below market, presenting significant upside potential. A RUBS program, along with charging for gated parking and storage, offers further income enhancement. All units are metered for electric and water. The property benefits from newly installed solar panels, eliminating electric bills, and a portion (2 units) is approved for The Mills Act, resulting in property tax savings. The building is exempt from AB 1482 rent control measures. An extremely attractive assumable HUD loan is available, fixed at 2.5% until 2056. The property's walk score of 83 reflects its convenient location in a highly sought-after area, attracting young professionals. The asking price is $19,500,000, with a Net Operating Income (NOI) of $446,194 and a cap rate of 2.29%. The price per unit is $847,826, and the price per square foot is $1,057.20. This is a rare opportunity to acquire a well-maintained, high-performing asset in a prime San Diego location.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.743

Longitude

-117.146

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].