Language and Region
Currency

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

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

966 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

4114 39th St

5 Unit Apartment Building $2,199,000 ($439,800/Unit) 5.82% Cap Rate San Diego, CA 92105

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Renovated in 2024
Fully fenced property
Laundry for all units

Garage parking
AC in all units

Executive Summary

Fully renovated 5-Unit property in Cherokee Point. 3 detached craftsman cottages
and 2-story Duplex in the back (5 units total). Community is fully landscaped with
outdoor spaces, dog run, auto sprinklers to keep it looking great and a block wall
privacy and security gate. All three detached cottages are 2 bd/1ba with private
patio/yards and laundry hookups. There are 4 single car garages that can be
converted into 2 additional 1bd/1ba units. PLUS a great common space for each
unit to have as their own outdoor seating or entertaining area. Inside the cottages
have been totally renovated with new kitchens cabinets and countertops, sinks,
new appliances, new flooring, new lighting, new flooring, fresh paint, and AC &
heat system. The duplex consists of (2) 1bd/1ba units also completely renovated
and share a common laundry room downstairs. Fully gated & safe community with
privacy from the neighbors with mature tall trees. Less than one block to park and
school. This property has tons of opportunity to live in a unit and rent out the rest
or for multigenerational living. A feasibility study was conducted showing the cost
and timeline for the garage conversions. Also the property is located in a TPA zone
allowing you to build up to 16 additional units on the property. The feasibility study
shows that information as well.

4114 39th Offering Memorandum 2024

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	$159,480	$42.09
Other Income	-	-
Vacancy Loss	$3,100	$0.82
Effective Gross Income	$156,380	$41.27
Taxes	$16,500	$4.35
Operating Expenses	$15,000	$3.96
Total Expenses	$31,500	$8.31
Net Operating Income	$124,880	$32.96

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	$159,480
Annual Per SF	$42.09

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$3,100
Annual Per SF	$0.82

Effective Gross Income
Annual	$156,380
Annual Per SF	$41.27

Taxes
Annual	$16,500
Annual Per SF	$4.35

Operating Expenses
Annual	$15,000
Annual Per SF	$3.96

Total Expenses
Annual	$31,500
Annual Per SF	$8.31

Net Operating Income
Annual	$124,880
Annual Per SF	$32.96

Property Facts

Price	$2,199,000	Building Class	C
Price Per Unit	$439,800	Lot Size	0.16 AC
Sale Type	Investment	Building Size	3,789 SF
Cap Rate	5.82%	Average Occupancy	100%
No. Units	5	No. Stories	2
Property Type	Multifamily	Year Built/Renovated	1941/2024
Property Subtype	Apartment	Parking Ratio	1.06/1,000 SF
Apartment Style	Garden	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$2,199,000
Price Per Unit	$439,800
Sale Type	Investment
Cap Rate	5.82%
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.16 AC
Building Size	3,789 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1941/2024
Parking Ratio	1.06/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Air Conditioning
Disposal
Microwave
Storage Space
Washer/Dryer

Washer/Dryer Hookup
Heating
Ceiling Fans
Tile Floors
Kitchen

Ice Maker
Refrigerator
Stainless Steel Appliances
Range
Tub/Shower

Double Pane Windows
Freezer
Lawn
Patio
Vinyl Flooring

Site Amenities

Fenced Lot
Laundry Facilities

Gated

Gas Range

Pet Play Area

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
1+1	2	$2,200	550
2+1	3	$2,995	700

1 of 1

Walk Score ®

Very Walkable (88)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	447-352-21	Total Assessment	$1,350,000
Land Assessment	$1,000,000	Annual Taxes	$16,500 ($4.35/SF)
Improvements Assessment	$350,000	Tax Year	2024

PROPERTY TAXES

Parcel Number

447-352-21

Land Assessment

$1,000,000

Improvements Assessment

$350,000

Total Assessment

$1,350,000

Annual Taxes

$16,500 ($4.35/SF)

Tax Year

2024

zoning

Zoning Code	RM 2-5 (Property located in opportunity zone. Has the ability to build up to 16 units on the lot. Garage can be converted into two additional units.)
RM 2-5 (Property located in opportunity zone. Has the ability to build up to 16 units on the lot. Garage can be converted into two additional units.)