Listing provided courtesy of Thomas McCartin of Marcus & Millichap. Last updated 2020-02-23 10:20:39.000000. Listing information © 2020 SANDICOR, Inc.
Asking Price: $2,400,000
3770 40th Street, San Diego CA 92105
Community: Metro Uptown
This Com-Res Income property was built in and is priced at $2,400,000. Please see the additional details below.
- 0 Sq Ft
- 1 bathrooms
- 2 bedrooms
- MLS#: 200009027
- Type: Com-Res Income
- Year Built:
Pleased to present for sale this 10 Unit Garden Style Apartment Building built in 1986 and located in the high demand Cherokee Point Rental Community of San Diego, CA. The subject property boasts convenient access to the 8, 15 and 805 Freeways. The property sits adjacent to the 15 Freeway but with the elevation the freeway traffic is practically muted.. The unit mix comprises eight (8) spacious 1BR/1BA units and two 2BR/1BA units. All of the units have been upgraded to some degree with modern flooring, cabinets, counter tops and windows. Seller is in the process of installing a new roof as well. A new Investor will be taking possession of a very well maintained building with little to no differed maintenance. With the new rent control bill a new owner will still be able to raise rents by more than 7% per year thus continuing to improve the cash on cash return for the investment. Currently Rents are about 13% below market.