3928 Alabama St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
3928 Alabama St
12 Unit Apartment Building $4,350,000 ($362,500/Unit) 5% Cap Rate San Diego, CA 92104
Investment Highlights
- Turn Key Opportunity With Upside In Rents
- Remodeled Interiors: Some Units w/ Dishwashers or A/C
- Market 6% Cap Rate & 12 GRM
Executive Summary
3928 Alabama Street is a solid 12 unit building in North Park near University Heights, Hillcrest and Morley Field with individual APNs for eight of the units. The approximately 6,714 square foot three-story structure was built in 1970 and is situated on a 7,118 square foot lot. The strong unit mix features six 2 Bed / 1.5 Bath units and two 1 Bed / 1 Bath units with dishwashers as well as a two 1 Bedroom and two Studio ADUs. The property features ample parking and remodeled units with additional upside in the rents.
DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
North Park is one of the most desirable rental markets in all of San Diego County. Geographically, the property is situated to the northeast of Balboa Park, bounded on the north by the canyons overlooking Mission Valley, on the south by Switzer Canyon and the Grant Hill neighborhood, on the east by and City Heights, and on the west by Florida Canyon and Balboa Park.
Like other urban San Diego communities, North Park has a high rate of pedestrian activity, relative to other regions of San Diego County. North Park is one of the most diverse communities in San Diego. Businesses and residential neighborhoods alike reflect this diversity. There have been many redevelopment projects by the city of San Diego in North Park and an improvement of the tenant-base over the last decade.
Buyer to verify square footage.
DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
North Park is one of the most desirable rental markets in all of San Diego County. Geographically, the property is situated to the northeast of Balboa Park, bounded on the north by the canyons overlooking Mission Valley, on the south by Switzer Canyon and the Grant Hill neighborhood, on the east by and City Heights, and on the west by Florida Canyon and Balboa Park.
Like other urban San Diego communities, North Park has a high rate of pedestrian activity, relative to other regions of San Diego County. North Park is one of the most diverse communities in San Diego. Businesses and residential neighborhoods alike reflect this diversity. There have been many redevelopment projects by the city of San Diego in North Park and an improvement of the tenant-base over the last decade.
Buyer to verify square footage.
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 | $4,350,000 | Building Class | C |
| Price Per Unit | $362,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 6,714 SF |
| Cap Rate | 5% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.6 | No. Stories | 3 |
| No. Units | 12 | Year Built | 1970 |
| Property Type | Multifamily | Parking Ratio | 0.6/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $4,350,000 |
| Price Per Unit | $362,500 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.6 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,714 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 0.6/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Heating
- Ceiling Fans
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,063 | 322 - 513 |
| 2+1.5 | 6 | $2,519 | 740 |
| Studios | 2 | $1,600 | 300 |
1 of 1
Walk Score ®
Walker's Paradise (92)
zoning
| Zoning Code | R1 |
| R1 |
1 of 19
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
3928 Alabama St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.