NEW REDUCED PRICE | Seller Motivated | 5.81% Current Cap Rate | 6.45% Market Cap Rate. 4321 33rd Street, San Diego, CA 92104 is a newly built (2022) 5 unit apartment property located in the trendy Normal Heights area of mid-city San Diego with walking distance to Adams Avenue’s bustling restaurant and brewery scene and just a short drive to North Park, University Heights, South Park, Hillcrest & Kensington. The property boasts 80% HUGE 1,000 SF 2BR/2BA units with high end finishes and 14’ ceilings on the 2nd level. The property is extremely efficient with limited landscaping and on-going maintenance. The units boast individual hot water heaters, and electric meters (no gas) and submeters for water. Although the rents are very close to market, there is still additional upside in rents on turnover/lease renewal for each unit. Property is also exempt for California Rent Control AB-1482, due to the newer age of construction. NOTE that the property is 4 legal units with a 5th unit that is nonconforming. Due to recent changes to city density and ADU regulations, a buyer should have a clear path to perfecting the 5th unit. Buyer to Investigate viability of perfecting the 5th unit. Email listing agent for Offering Memorandum
Number of Units : 5
Unit 1 Area : 1000 S.F
Unit 1 : Number of Unit(s) : 2140
Unit 1 : Total Bedrooms : 2
Unit 1 : Total Bathrooms : 2
Unit 2 Area : 1000 S.F
Unit 2 : Number of Unit(s) : 2142
Unit 2 : Total Bedrooms : 2
Unit 2 : Total Bathrooms : 2
Unit 3 Area : 1000 S.F
Unit 3 : Number of Unit(s) : 2142.5
Unit 3 : Total Bedrooms : 2
Unit 3 : Total Bathrooms : 2
Unit 4 Area : 1000 S.F
Unit 4 : Number of Unit(s) : 2144
Unit 4 : Total Bedrooms : 2
Unit 4 : Total Bathrooms : 2
Number of Units with Dishwashers: 5
Number of Units with Dryers : 5
Number of Units with Range/Oven : 5
Number of Units with Refrigerator : 5
Number of Units with Washers : 5
Neighborhood : Normal Heights
Security Features : Gated Community
Fencing : Partial
Exterior : Stucco,Wood/Stucco
Number of Units with Patios : 4
Roof : Composition
Cooling : Central Forced Air
Street Address: 4321 33rd Street
City: San Diego
State: California
Postal Code: 92104
County: San Diego
MLS Number: 240027406
Year Built: 2022
Courtesy of David Santistevan
City: San Diego
State: California
Postal Code: 92104
County: San Diego
MLS Number: 240027406
Year Built: 2022
Courtesy of David Santistevan
Courtesy of Wilhelmy Realty
