4114 39Th StSan Diego, CA 92105

Property Details for 4114 39Th St

Year built

1941

Lot size

0.16 AC

Property size (Sq ft)

2,832 SF

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

447-352-21-00

APU

4473522100

Description

Exceptional investment opportunity: a fully renovated, 5-unit apartment complex in San Diego's desirable Cherokee Point neighborhood (92105). This stabilized property boasts a 100% occupancy rate with 12-month leases, generating a substantial annual net operating income (NOI) of $127,980. The property comprises three charming 2-bedroom, 1-bathroom detached cottages and a 2-story duplex with two 1-bedroom, 1-bathroom units. Each unit features modern upgrades including new kitchens, appliances, flooring, and AC/heat systems. The complex includes four single-car garages, potentially convertible into additional units (a feasibility study is available). Outdoor amenities include landscaped grounds, a dog run, and a secure gated entry. Located less than a block from a park and school, this property offers significant upside potential. The 7,000 sq ft lot is zoned RM 2-5, allowing for the potential addition of up to 16 more units (per feasibility study). The property features a total of 3,200 square feet, with a current asking price of $2,199,000 ($687.19/sq ft and $439,800/unit). Built in 1941 and fully renovated in 2024, this property presents a rare blend of historic charm and modern convenience. The property's strong cash flow, combined with its development potential, makes it an ideal investment for discerning buyers. All units are currently leased, ensuring immediate return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $736,105

  6.5%

  $679,481

  7%

  $630,947

• Comparable approach

  Method

  Valuation

  Relative Method

  $710,429

  Geo Method

  $1,545,008

• Alternative Use

  Use

  Valuation

  Residential

  $679,481

  Hospitality

  $622,401

  Educational

  $517,830

  Medical

  $535,640

  Retail

  $805,514

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7518

Longitude

-117.111

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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