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3432 Florence St, San Diego, CA 92113

Commercial property

3432 Florence St, San Diego, CA 92113 Sold July 2023 CRMLS
$4,000,000Sold July 2023

Listing Agent: Adrian Gonzalez-Pureco (DRE #01844618) · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Adrian Gonzalez-Pureco · South Coast Commercial, Inc. · MLS #230007511SD · Source: CRMLS

16
Units
5.50%
Cap Rate
$230,620
NOI
39,204 sqft
Lot Size
Commercial property
Type

About this commercial property

JUST PRICE REDUCED **ASSUMABLE FINANCING AVAILABLE 4.27% through 2027** Pleased to present 3432-34 Florence St – 16 unit apartment building comprised of 100% 2 bedroom / 1 bathroom units totaling 11,144 SqFt on a 39,204 SqFt lot. The property sits in the Opportunity Zone. Units feature a private balcony or patio for outdoor space for tenants to enjoy. The property also features ample off-street parking and laundry facilities. Advertised rents reflect Rent Increases that take effect July 2023. This is a great investment for a value-add investor looking to add sweat equity into the building to produce a high income producing asset. Part of a two property portfolio with 2567 A St. Can be sold together or separately.

Listing description from the July 2023 sale, as reported to CRMLS.

Sale history

$4,000,000
Sold July 2023 · listed $4,200,000, orig. $4,600,000, on market April 2023 · MLS #230007511SD · Source: CRMLS
Listing Agent: Adrian Gonzalez-Pureco · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Adrian Gonzalez-Pureco · South Coast Commercial, Inc.
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