3978 Utah St 8 Unit Apartment Building $4,357,678 CAD ($544,710 CAD/Unit) 4.58% Cap Rate San Diego, CA 92104

Marcus & Millichap is pleased to present 3978 Utah Street located in San Diego, California. Originally built in 1973, the 8-unit apartment complex is located in the highly desirable
neighborhood of North Park and boasts an unbeatable Walk Score of 98. The building measures approximately 6,521 rentable square feet and rests on a 6,981 square foot lot.
The unit mix consists of (5) spacious one bedroom / one bathroom units, (1) two bedroom / one bathroom unit, and (2) extra large two bedroom / two bathroom units. Current ownership has diligently upgraded the property over the years including dual pane vinyl windows, upgraded electrical system and interior renovations in 7 of the 8 units. Attractive tenant offerings include: on-site laundry and (8) off-street parking spaces, (4) of which are car ports. Having been well-maintained the property presents to substantially increase rents through continued renovation and more aggressive management.
Located less than a block north of University Avenue and two blocks from 30th Street, the property is within walking distance to all the best North Park has to offer. The property also offers easy access to the 805 freeway simplifying commutes. 3978 Utah Street ultimately presents investors the rare opportunity to acquire a well maintained and improved asset with significant rental upside in one of San Diego’s most desirable rental markets.