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Prime North Park - $299k/unit 4018 Hamilton St 8 Unit Apartment Building $3,301,507 CAD ($412,688 CAD/Unit) 3.66% Cap Rate San Diego, CA 92104
INVESTMENT HIGHLIGHTS
- Prime North Park Location Priced Under $300k/unit
- Huge Value-Add Opportunity: 75% Upside in Rental Income (7.97% Proforma CAP)
- Zoned RM-3-7 | Complete Communities Tier 3: 6.5 FAR
- 8-Unit Property w/ Cottage Style Feel (4 Buildings)
- Seven (7) 1Bed/1Bath Units + One (1) 2Bed/1Bath Unit
- A Short Walk to Shops, Restaurants, and Local Services (94 WalkScore)
EXECUTIVE SUMMARY
**8 Units Value-Add - Under $299k/unit - 7.97% Proforma CAP**
Located in the heart of North Park, this 8-Unit Apartment Community is an incredible opportunity for the value-add investor or developer. With 75% upside in rental income and RM-3-7 zoning / Complete Communities Tier 3: 6.5 FAR, there is massive potential for the astute investor. Situated across four buildings on a 7,020sf parcel, the property consists of seven (7) 1Bedroom/1Bathroom units, and one (1) 2Bedroom/1Bathroom unit. Tenant amenities include an onsite laundry facility and common area yard (which has potential for ADU’s). With a WalkScore of 94, tenants are a short walk to shops, restaurants, and everything North Park has to offer. Don’t miss the opportunity to acquire this incredible value-add community in one of San Diego’s most sought after rental markets.
Located in the heart of North Park, this 8-Unit Apartment Community is an incredible opportunity for the value-add investor or developer. With 75% upside in rental income and RM-3-7 zoning / Complete Communities Tier 3: 6.5 FAR, there is massive potential for the astute investor. Situated across four buildings on a 7,020sf parcel, the property consists of seven (7) 1Bedroom/1Bathroom units, and one (1) 2Bedroom/1Bathroom unit. Tenant amenities include an onsite laundry facility and common area yard (which has potential for ADU’s). With a WalkScore of 94, tenants are a short walk to shops, restaurants, and everything North Park has to offer. Don’t miss the opportunity to acquire this incredible value-add community in one of San Diego’s most sought after rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$206,014
|
$48.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,180
|
$1.46
|
| Effective Gross Income |
$199,834
|
$47.20
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$79,067
|
$18.67
|
| Net Operating Income |
$120,768
|
$28.52
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $206,014 |
| Annual Per SF | $48.66 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,180 |
| Annual Per SF | $1.46 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $199,834 |
| Annual Per SF | $47.20 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $79,067 |
| Annual Per SF | $18.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $120,768 |
| Annual Per SF | $28.52 |
PROPERTY FACTS
| Price | $3,301,507 CAD | Apartment Style | Garden |
| Price Per Unit | $412,688 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 3.66% | Building Size | 4,234 SF |
| Gross Rent Multiplier | 16.03 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 0.13/1,000 SF |
| Zoning | RM-3-7 - Complete Communities Tier 3: 6.5 FAR | ||
| Price | $3,301,507 CAD |
| Price Per Unit | $412,688 CAD |
| Sale Type | Investment |
| Cap Rate | 3.66% |
| Gross Rent Multiplier | 16.03 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,234 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1930 |
| Parking Ratio | 0.13/1,000 SF |
| Zoning | RM-3-7 - Complete Communities Tier 3: 6.5 FAR |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $2,000 CAD | 500 |
| 2+1 | 1 | $3,171 CAD | 850 |
1 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 445-582-19 | Improvements Assessment | $580,219 CAD (2025) |
| Land Assessment | $376,350 CAD (2025) | Total Assessment | $956,570 CAD (2025) |
PROPERTY TAXES
Parcel Number
445-582-19
Land Assessment
$376,350 CAD (2025)
Improvements Assessment
$580,219 CAD (2025)
Total Assessment
$956,570 CAD (2025)
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Prime North Park - $299k/unit | 4018 Hamilton St
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