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4048-50 Cherokee 3448 Cherokee Ave 3 Unit Apartment Building $2,244,156 CAD ($748,052 CAD/Unit) 5.20% Cap Rate San Diego, CA 92104
Investment Highlights
- Cherokee Point
- Value Add Opportunities
- Fully Leased
- Turn Key Investment
- Fully Renovated Houses
Executive Summary
Great investment opportunity to own a recently renovated Triplex in Cherokee Point with 4th 2 bed 2bath house in plans. Close proximity to downtown and Balboa Park. The Cherokee Point neighborhood is also landlocked between the 805 and 15 freeways, providing a quieter living experience compared to other parts of North Park, while still giving you easy access to all North Park has to offer including shopping, restaurants and activities. Which makes this a highly desirable location for a high performance investment. The property consists of 3 fully leased dwellings, Two 3 bedroom Houses and One 1 Bedroom. There are plans in the city for permits on an additional 2bed 2bath house. All houses have been upgraded with Newer Kitchens and Baths, LED lighting throughout, Ceiling Fans in every room, A/C and Heating, Washer and Dryer also included. This Houses are all individually Fully fenced yard and has Parking for multiple vehicles. Tenants pay all utilities. Currently priced with a 5.2 CAP. Proforma with adding the 4th dwelling will bring you over a 7 CAP. Great turnkey investment with leases plus value-add opportunities.
Financial Summary (Pro Forma - 2027) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$194,431
|
$66.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,860
|
$2.01
|
| Effective Gross Income |
$188,570
|
$64.69
|
| Taxes |
$27,579
|
$9.46
|
| Operating Expenses |
$11,783
|
$4.04
|
| Total Expenses |
$39,362
|
$13.50
|
| Net Operating Income |
$149,208
|
$51.19
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $194,431 |
| Annual Per SF | $66.70 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,860 |
| Annual Per SF | $2.01 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $188,570 |
| Annual Per SF | $64.69 |
| Taxes (CAD) | |
|---|---|
| Annual | $27,579 |
| Annual Per SF | $9.46 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $11,783 |
| Annual Per SF | $4.04 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $39,362 |
| Annual Per SF | $13.50 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $149,208 |
| Annual Per SF | $51.19 |
Property Facts
| Price | $2,244,156 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $748,052 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.20% | Building Size | 2,915 SF |
| Gross Rent Multiplier | 14.8 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1937/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.06/1,000 SF |
| Zoning | R2 - Multifamily | ||
| Price | $2,244,156 CAD |
| Price Per Unit | $748,052 CAD |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| Gross Rent Multiplier | 14.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,915 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1937/2025 |
| Parking Ratio | 2.06/1,000 SF |
| Zoning | R2 - Multifamily |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Dining Room
- Family Room
- Garden
- Office
- Patio
- Large Bedrooms
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Private Bathroom
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | $4,826 CAD | 1,405 - 1,476 |
| 1+1 | 1 | $2,723 CAD | 400 |
| 2+2 | 1 | $3,792 CAD | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 447-703-11 | Total Assessment | $1,384,560 CAD (2026) |
| Land Assessment | $969,192 CAD (2026) | Annual Taxes | $27,579 CAD ($9.46 CAD/SF) |
| Improvements Assessment | $415,368 CAD (2026) | Tax Year | 2027 |
Property Taxes
Parcel Number
447-703-11
Land Assessment
$969,192 CAD (2026)
Improvements Assessment
$415,368 CAD (2026)
Total Assessment
$1,384,560 CAD (2026)
Annual Taxes
$27,579 CAD ($9.46 CAD/SF)
Tax Year
2027
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4048-50 Cherokee | 3448 Cherokee Ave
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