WELL-MAINTAINED SIX-UNITS | NORTH PARK | 3028 Howard Ave
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WELL-MAINTAINED SIX-UNITS | NORTH PARK 3028 Howard Ave
6 Unit Apartment Building $1,775,000 ($295,833/Unit) 4% Cap Rate San Diego, CA 92104
Investment Highlights
- Well-maintained property with tenant-sought-after features: dedicated parking, gated entrance, and on-site laundry.
- Appealing to a Stable Tenant Base: The age-restricted nature of the community ensures a stable, long-term tenant base, and reduced turnover.
- Bright, Functional Units: The units are designed to maximize natural light, providing a bright and inviting living space that appeals to renters.
- Prime Location Near Iconic Landmarks: Located close to North Park’s key attractions such as the North Park Community Park, & the historic Water Tower.
Executive Summary
FIRST-TIME ON THE MARKET - OWNER/BUILDER!
Doug Taber, CCIM is pleased to present this six-unit investment property in the vibrant and highly desirable North Park neighborhood of San Diego. The gated 6-unit apartment building comprises five (5) 1 BD/1 BA, and one (1) STUDIO apartments. Additionally, the property has 6 off-street parking spots, separate laundry, and maintenance storage. This parcel has a conditional use permit (CUP) that allows for higher-density development, provided that at least one resident in each unit is 62 years of age or older OR disabled. This CUP is designed to facilitate the creation of much-needed housing tailored to the needs of older adults. Known for its strong rental market, North Park offers investors a chance to capitalize on an area that combines consistent demand with proximity to some of the city’s most iconic landmarks.This property offers an investor the opportunity to own a multifamily asset in one of San Diego’s most sought-after neighborhoods, known for its high walkability and vibrant community.
Contact us today at (619) 483-1031 or through DougTaber.com to learn more about this incredible opportunity!
Doug Taber, CCIM is pleased to present this six-unit investment property in the vibrant and highly desirable North Park neighborhood of San Diego. The gated 6-unit apartment building comprises five (5) 1 BD/1 BA, and one (1) STUDIO apartments. Additionally, the property has 6 off-street parking spots, separate laundry, and maintenance storage. This parcel has a conditional use permit (CUP) that allows for higher-density development, provided that at least one resident in each unit is 62 years of age or older OR disabled. This CUP is designed to facilitate the creation of much-needed housing tailored to the needs of older adults. Known for its strong rental market, North Park offers investors a chance to capitalize on an area that combines consistent demand with proximity to some of the city’s most iconic landmarks.This property offers an investor the opportunity to own a multifamily asset in one of San Diego’s most sought-after neighborhoods, known for its high walkability and vibrant community.
Contact us today at (619) 483-1031 or through DougTaber.com to learn more about this incredible opportunity!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,775,000 | Apartment Style | Low Rise |
| Price Per Unit | $295,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 4% | Building Size | 2,320 SF |
| Gross Rent Multiplier | 15.3 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1987 |
| Property Type | Multifamily | Parking Ratio | 2.59/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,775,000 |
| Price Per Unit | $295,833 |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 15.3 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 2,320 SF |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 2.59/1,000 SF |
Unit Amenities
- Kitchen
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 446-233-11 | Improvements Assessment | $192,294 (2024) |
| Land Assessment | $33,738 (2024) | Total Assessment | $226,032 (2024) |
PROPERTY TAXES
Parcel Number
446-233-11
Land Assessment
$33,738 (2024)
Improvements Assessment
$192,294 (2024)
Total Assessment
$226,032 (2024)
zoning
| Zoning Code | R-3 (Multi-Family 10 units or less) |
| R-3 (Multi-Family 10 units or less) |
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WELL-MAINTAINED SIX-UNITS | NORTH PARK | 3028 Howard Ave
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