4170 37th Street, San Diego, CA 92105
Property
Sold October 2024
Listing Agent: Maxwell Brown (DRE #02127395) · Listing Office: Commercial Asset Advisors · Contact: mbrown@caacre.com · Bought with: Maxwell Brown · Commercial Asset Advisors · MLS #PTP2405253 · Source: CRMLS
About this property
Commercial Asset Advisors is pleased to present the opportunity to acquire an attractive investment opportunity for a value-add 9-unit multifamily asset in the desirable, centrally located Cherokee Point neighborhood. The asset consists of six 1 Bed / 1 Bath and three 2 Bed / 1 Bath units on a 7,000 sqft lot. All tenants possess notably below-market rents and are on a month-to-month basis. The asset possesses a forecasted 7.33% Proforma Cap Rate post full renovation with installation of in-unit laundry. The building contains a 50 sqft laundry room contiguous to a 150 sqft storage room containing an existing bathroom with plumbing, gas supply, and electricity. A savvy investor may seek to convert this 200 sqft of plumbed and powered non-living square footage into an additional studio unit as an ADU or expand on the existing contiguous 1 Bed / 1 Bath unit to create a 2 Bed / 2 Bath unit for increased rent potential. The property passed SB721 deck inspections in 2023
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history