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Listed by Maxwell Brown • Commercial Asset Advisors
$2,500,000
Est. payment /mo
4,629 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,629 sqft
Price per Sqft $540
MLS Listing ID CRPTP2502876
HOA Y/N No
Year Built 1960
Lot Size 0.333 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
We are pleased to present the opportunity to acquire a high-yield, mostly renovated, low-density, double-lot multifamily asset with a detached 3 bed / 2 bath house in Central San Diego. 21-33 S. 35th Street was originally constructed in 1960, with 9 of the 10 units renovated in 2022, including the buildout of the two ADUs. The asset consists of 5 buildings: a detached 3 Bed/ 2 Bath house, a 1 Bed / 1 Bath detached cottage, a quadplex of (4) 1 Bed / 1 Bath units, a duplex of (2) studios, and a duplex of (2) 2022-completion studio ADUs. All but two units have mid-sized private yards, helping to drive longer-term occupancy and higher rents. The property is well parked, with 13 off-street parking spaces for the 10 units, providing over 1 parking space per bedroom. The asset is centrally located in Logan Heights, providing quick access to Downtown San Diego, Coronado Island, Balboa Park, North Park, South Park, and the San Diego Navy Base, airport, and bay—all within a 10-minute drive. Select units possess views of the Downtown San Diego skyline and the Coronado Bridge. 21-33 S. 35th Street offers strong in-place financial metrics at $206,940 gross scheduled annual income, with the immediately available rent increases yielding a 5.38% cap rate. Additionally, the existing rents are u
Location
State CA
County San Diego
Interior
Fireplace No
Laundry Other
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