3034 Canon St 18 Unit Apartment Building $9,631,848 CAD ($535,103 CAD/Unit) 3.93% Cap Rate San Diego, CA 92106

3034-50 Canon Street is located just blocks from La Playa and Shelter Island. The 3 structures totaling 12,410 square feet built in 1947 are situated on a 10,108 square foot lot. There are seventeen spacious 1 Bedroom / 1 Bathroom units and one commercial unit. The units have all been remodeled with plank flooring, horizontal window coverings, and new ceiling fans which complement the tile countertops and existing built ins. There is assumable financing at 3.95% fixed until March of 2027 with Chase Bank with a current balance of approximately $2.4M. Solar Panels were recently installed as well as new windows and tankless hot water heaters. There are two laundry rooms with leased equipment. There are back and central patio areas with bike storage. The property is in a central location across the street from Cabrillo Elementary School and a few blocks from Liberty Station.
Point Loma is a scenic peninsula with panoramic views of the Pacific Ocean, San Diego Bay, Coronado Island and Downtown San Diego. The picturesque coastline and is known for its sunsets and has created a desirable living environment, attracting residents and tourists alike. This natural beauty enhances the value of properties in the area. Point Loma boasts a rich history and a vibrant community. The neighborhood is home to the renowned Cabrillo National Monument, which commemorates the landing of Juan Rodriguez Cabrillo in 1542, making it a popular tourist destination. The area is also known for its military presence, with Naval Base Point Loma and the Marine Corps Recruit Depot located immediately to the south as well as Point Loma being just across the Bay from North Island Coronado.
Point Loma offers a range of amenities, including upscale shopping centers, trendy restaurants, and recreational facilities, and quiet beaches. The combination of natural beauty, historical significance, and a thriving community makes Point Loma a great neighborhood. Shelter Island offers fine dining, parks, boat launches and many resorts.
DO NOT WALK ON PROPERTY OR DISTURB TENANTS.