4024 32nd St, San Diego, CA 92104
Commercial property · 2 recorded sales since 2016
Sold June 2021
Listing Agent: Carson Trujillo (DRE #01974818) · Listing Office: Marcus & Millichap · Contact: 858-373-3100 · Bought with: Carson Trujillo · Marcus & Millichap · MLS #210007491 · Source: CRMLS
About this commercial property
Pleased to present for sale a 26-unit value-add senior housing community in the North Park neighborhood of San Diego. Constructed in 1985, this property rests on a 10,500 SF lot and offers approximately 14,000 of rentable SF. 4024 32nd St is comprised of (8) two-bedroom/1-bathroom units, (17) one-bedroom/one-bathroom units, and (1) studio/one-bathroom unit. The complex offers investors the rare opportunity for significant rental upside through interior and exterior renovations. Tenants enjoy access to 12 off-street parking spaces + 1 loading space, designated handicap street parking, a clubroom, and a communal laundry room. The complex is wheel-chair accessible and has an elevator. A conditional use permit for the senior citizen housing project states one resident from each unit must be age 55+ to live in the complex. The permit does not expire unless approved by the planning commission. North Park continues to attract high quality and desirable tenants with some of the most popular retailers establishing their roots here. Increasing market demand throughout the neighborhood will continue to keep vacancy rates low and rents stable. 4024 32nd St has a walk score of (95) and is steps away from local restaurants, bars, shops, and transportation. This property is centrally located with the investor’s longevity in mind.
Listing description from the June 2021 sale, as reported to CRMLS.
Sale history
