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3423-3443 Marlborough Ave 22 Unit Apartment Building $9,824,897 CAD ($446,586 CAD/Unit) 5.32% Cap Rate San Diego, CA 92105
Investment Highlights
- Extensively Renovated in 2020
- In-Unit Laundry (18 of 22 Units)
- Strong In-Place Rents w/ Upside
- Fantastic Unit Mix: Majority 2Bdrm/2Bath Units
- Ample Onsite Parking: 28 Spaces
- ADU Upside Potential
Executive Summary
?This is an extensively renovated (2020) and well-maintained 22-unit apartment community in the City Heights neighborhood of San Diego. This property has a fantastic unit mix: eighteen (18) 2Bdrm/2Bath with in-unit laundry and four (4) 1Bdrm/1Bath units. The property has ample onsite parking (28 spaces) and is situated in a predominantly single-family neighborhood near transit, local freeways and shopping. This represents an opportunity to acquire a fully renovated asset with additional upside in one of San Diego's best-performing submarkets.
Property Facts
| Price | $9,824,897 CAD | Apartment Style | Garden |
| Price Per Unit | $446,586 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.53 AC |
| Cap Rate | 5.32% | Building Size | 17,732 SF |
| Gross Rent Multiplier | 11.44 | No. Stories | 2 |
| No. Units | 22 | Year Built/Renovated | 1966/2020 |
| Property Type | Multifamily | Parking Ratio | 1.58/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RS-1-7 - Multi-Family | ||
| Price | $9,824,897 CAD |
| Price Per Unit | $446,586 CAD |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| Gross Rent Multiplier | 11.44 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 17,732 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2020 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | RS-1-7 - Multi-Family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $3,329 CAD | 600 |
| 2+2 | 18 | $2,524 CAD | 925 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,716,847 CAD | |
| Land Assessment | $3,196,291 CAD | Total Assessment | $5,913,138 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$3,196,291 CAD
Improvements Assessment
$2,716,847 CAD
Total Assessment
$5,913,138 CAD
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3423-3443 Marlborough Ave
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