3736 Mississippi St San Diego, CA 92104
Active
$3,199,000
6%
6 Units
11 Beds
7 Baths
4,206 Area(sq.ft.)
7,022 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 2 | 1 | 1 | No | $ 2,350 | $ 4,325 | $ 4,700 |
| Unit 2 | 3 | 2 | 1 | No | $ 2,845 | $ 8,535 | $ 9,750 |
| Unit 3 | 1 | 3 | 2 | No | $ 3,500 | $ 3,500 | $ 3,875 |
| 3 | 6 | 11 | 7 | $ 16,735 | $ 37,755 | $ 42,525 |
| MLS #: | 24-455505 |
| Days On Market: | 28 |
| County: | San Diego |
| Property Type: | Residential Income |
| Price per ft2: | $ 761 |
| Price per unit: | $ 533,167 |
| Year Built: | 1986 |
Property Details
Presenting an exceptional investment opportunity with a 5.1% Cap Rate in the highly desirable North Park area of San Diego. Located just three blocks from Morley Field and Balboa Park, this 4,710-square-foot, six-unit multifamily building offers tenants convenient access to a wide range of amenities, including tennis courts, a dog park, and expansive athletic facilities all within walking distance. This fully occupied, well-maintained property features two 1-bedroom, 1-bath units; three 2-bedroom, 1-bath units; and one 3-bedroom, 2-bath unit. It also features four 1-car garages, 6 uncovered parking spots, and ample off-street parking, a rare find in this neighborhood. Recent updates include upgraded kitchens and refreshed landscaping minimizing maintenance costs and maximizing return on investment. The spacious and thoughtfully designed units are in great condition, attracting quality tenants and offering robust rental income potential. Positioned in the heart of North Park, one of San Diego's trendiest and most vibrant neighborhoods, this property benefits from its proximity to popular local attractions, shopping, and dining hotspots. Residents can enjoy renowned restaurants like The Smoking Goat, Urban Solace, and Tribute Pizza, along with entertainment venues such as the Observatory North Park. The area's thriving business scene and diverse cultural offerings add to its appeal, making it a prime location for investors seeking long-term growth and steady cash flow. With its central location, strong tenant appeal, and potential for appreciation, this property is an ideal addition to any multifamily real estate portfolio. Don't miss out on the chance to invest in one of San Diego's most in-demand and dynamic neighborhoods, where a combination of art, culture, and commerce creates an environment poised for continued growth.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Gross Operating Income: | $ 196,320 |
| Total Annual Expense: | $ 22,688 |
| Net Operating Income: | $ 173,632 |
| Gross Annual Income: | $ 0 |
| Cap Rate: | 5.1% |
| Gross Rent Multiplier: | 17.31 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Two |
Land & Parking
| Zoning: | RM-1-1 |
| Parking Garage: | Driveway, Garage - 4+ Car, Garage Is Attached, On street, Private Garage, Shared Driveway |
| Total Parking: | 11 |
Interior
| AC/Cooling: | None |
| Equipment: | Ceiling Fan, Dishwasher, Freezer, Range/Oven, Refrigerator |
| Heating: | Forced Air |
Exterior
Detailed Map
Schools
Find a great school for your child
Income
