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1915-1921 4th Ave

11 Unit Block of Flats £4,260,600 (£387,327/Unit) 4% Net Initial Yield San Diego, CA 92101

Investment Highlights

  • 4.00% ProForma CAP Rate / Offering actual CAP Rate of 2.83%
  • Excellent unit mix of studios, 1 bedroom units and 2 bedroom units.
  • First time to the market in 25+ years.
  • Major Upside in Rental Income / 0.115 Acre Lot

Executive Summary

Located at 1915-1921 4th Avenue in the highly sought-after Bankers Hill area of San Diego, this multifamily property has not been available on the market for over 25 years, making it a rare investment opportunity. The property consists of 11 units, featuring a versatile mix of 2 studio units, 7 one-bedroom units, and 2 two-bedroom units. Bankers Hill, known for its blend of historic charm and modern conveniences, offers a prime location just north of downtown San Diego.

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £4,260,600
Price Per Unit £387,327
Sale Type Investment
Net Initial Yield 4%
Gross Rent Multiplier 16.85
No. Units 11
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.11 AC
Building Size 6,700 SF
Average Occupancy 95%
Number of Floors 3
Year Built 1940
Parking Ratio 0.36/1,000 SF

Unit Amenities

  • Balcony
  • Fireplace
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Freezer
  • Smoke Free

Site Amenities

  • 24 Hour Access
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 2 £1,420 550
1+1 7 £1,972 625
2+1 2 £2,209 850
Walk Score ®
Walker's Paradise (94)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
533-292-05
Land Assessment
£216,141
Improvements Assessment
£308,778
Total Assessment
£524,919

zoning

Zoning Code CV-4, San Diego
CV-4, San Diego
  • Listing ID: 33601789

  • Date on Market: 22/10/2024

  • Last Updated:

  • Address: 1915-1921 4th Ave, San Diego, CA 92101

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