Multifamily Investment Opportunity

4344 Van Dyke Avenue, San Diego, CA

For Sale

Multifamily Garden Low Rise

$2,950,000

Price

Overview

Cap Rate

4.13%

NOI

$121,899.22

EST Cap Rate

5.75%

Units

EST Market GRM

11.96

Price Per Sqft

$569.30

Price Per Unit

$352,777

Offered by

Description

Commercial Asset Advisors is pleased to present this opportunity to acquire an 8-unit apartment complex plus a proposed ADU located in the Kensington neighborhood of San Diego.

The property was recently remodeled and features an ideal unit mix of three (3) two-bedroom/one-bath and five (5) one-bedroom/one-bath units totaling approximately 5,616 square feet plus one (1) proposed studio ADU.

The two-story structure features a wood-frame, stucco exterior and a flat roof.

New ownership has the potential to increase the rents nearly 30% for a significant value add opportunity. This property also allows for the new ownership to increase their net income by constructing an ADU in the garage.

Current ownership has submitted permits to construct the ADU and shall have permits prior to closing allowing new ownership to begin construction post acquisition immediately.