3945-51 Alabama Street

San Diego, CA 92104 View Map $1,985,000 Schedule a Tour
Beds4
Baths4
On Site40 days
Year1922
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Robert & Joy Aumann

Robert & Joy Aumann

(858) 752-8730
 
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FOR SALE: 3945-51 Alabama Street San Diego CA 92104 | 240011945 |$1,985,000| Call Rob (858) 752-8730 for a TOUR!

Status: Active
Property Type:Res Income 2-4 Units
MLS #:240011945
On Site:40 Days
County:San Diego

Listing Agent/Office

Agent:Ben Sierpina
Agent Phone:858-373-3215
Office:Marcus & Millichap
3945-51 Alabama Street sits in the highly desirable neighborhood of North Park, which continues to be one of the most in-demand rental markets in uptown San Diego. Originally built in 1922, the 4-unit apartment complex boasts a Walk Score of 93 and totals approximately 1,800 in rentable square feet. The lot size is approximately 6,972 square feet and is in a Qualified Opportunity Zone. Spread across (2) duplexes the unit mix consists of (4) one bedroom / one bathroom units with only one shared wall. Three units have been recently renovated with new kitchens, bathrooms, stainless steel appliances including dishwashers and vinyl plank flooring. All units also feature mini-split A/C systems and individual washer/dryers. The property also boasts patio decks, an expansive yard area and (4) off street parking spaces. With below market rents and further potential for renovation on the remaining unit, there is ample opportunity for an investor to continue to increase cash flow. The property is located in a Qualified Opportunity Zone and Complete Communities Tier 3 creating potential for future redevelopment or the addition of ADU's. Located less than a block from University Avenue and three blocks from El Cajon Boulevard, the property is within walking distance of all the best of major attractions North Park has to offer. The eclectic neighborhoods of University Heights and Hillcrest are also within a few blocks of the property giving tenants access to even more shopping and dining options. Iconic Balboa Park is within 1 mile of the property with its countless attractions.

Mortgage Calculator

$000 Monthly Payment
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Detailed Maps

Community Information

Address:3945-51 Alabama Street, San Diego, CA 92104
County:San Diego
Area (MLS Code):Metro Uptown
Subdivision:North Park
Zip Code:92104
Community:NORTH PARK

Architecture

Bedrooms: 4
Bathrooms: 4
Year Built:1922
Stories:1
Exterior: Wood
Total Stories: 1
Unit 1: 1 bed, 1 bath. Rent: $1845.0
Unit 2: 1 bed, 1 bath. Rent: $1840.0
Unit 3: 1 bed, 1 bath. Rent: $1900.0
Unit 4: 1 bed, 1 bath. Rent: $1415.0
Roof: Composition

Features / Amenities

Cooling: Central Forced Air

Rooms

Dimensions
Master
Bedroom 2
Bedroom 3
Bedroom 4
Bedroom 5
Breakfast Area
Dining Room
Kitchen
Living Room
Family Room
Extra Room 1
Extra Room 2
Extra Room 3

Property Features

Lot Dimensions:4,000-7,499 SF
Fencing: Partial

Tax and Financial Info

Gross Sched Income Actual: $84, 000
Gross Sched Income Projected: $114, 960
Annual Expense Actual: $38, 899
Annual Expense Projected: $40, 401
Other Income Actual: $2, 400
Cap Rate Actual: $2.45
Cap Rate Projected: $3.78
Tenant Pays: Electricity, Gas/Propane
Terms: Cash

Schools

WALKING AND TRANSPORTATION

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3945-51 Alabama Street San Diego,  CA 92104
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3945-51 Alabama Street San Diego, CA 92104
 
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Listing information last updated on July 14, 2024 10:45 AM EST.