4232 Sharron PL 4232 Sharron Pl

7 Unit Apartment Building $1,250,000 ($178,571/Unit) 11.60% Cap Rate San Diego, CA 92115

INVESTMENT HIGHLIGHTS

  • Very close proximity to SDSU for student housing
  • Walking to distance to Crawford Highschool and Mann Middle School

EXECUTIVE SUMMARY

4 Unit Development Opportunity! 7 Units Total... 4232 Sharron Pl is a rare investment opportunity in the heart of San Diego. This property sits on a generous 7,700-square-foot lot and offers three existing income-producing units that were newly renovated. This property also comes with approved permits to build four additional 2-bedroom, 2-bathroom units at 717sf. Lender has appraised the completion of the development at 3.3M-3.5M. This property is a perfect fit for developers, investors, or owner-occupants seeking value-add opportunities in a high-demand market. The existing units have all been recently renovated which includes a new roof, all new modern appliances, luxury vinyl tile flooring, new countertops, bathroom fixtures, windows and landscaping. The main house is 3B/2B at 955sf and offers an open floor plan with spacious bathrooms. The other two units are identical studios (not permitted) at 285sf that are fully equipped with an electric stove top, full size shower, and in unit laundry. Draft plans for submission to the city to permit the studios come with the purchase. In total the units collect $6600/month. The location of this property is central to San Diego and is only 15 min to downtown. The property is also conveniently located right next to Crawford Highschool and Mann Middle School. There is TONS of open street parking down the street by the school for the extra units to be built.
Use the following link to access all affiliated documents such as the after completion appraisal value, building plans, photo/video, and full proforma.
https://drive.google.com/drive/folders/1Dg6Uv6nrazRfMHr2-dpFmHAlpSTex0pu?usp=drive_link
Listing Agent has interest in property

DATA ROOM Click Here to Access

FINANCIAL SUMMARY (PRO FORMA - 2025)

ANNUAL ANNUAL PER SF
Gross Rental Income $213,000 $48.41
Other Income - -
Vacancy Loss $6,390 $1.45
Effective Gross Income $206,610 $46.96
Taxes $25,000 $5.68
Operating Expenses $32,415 $7.37
Total Expenses $57,415 $13.05
Net Operating Income $149,195 $33.91

PROPERTY FACTS

Price $1,250,000
Price Per Unit $178,571
Sale Type Investment
Cap Rate 11.60%
No. Units 7
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class B
Construction Status Proposed
Building Size 4,400 SF
No. Stories 2

UNIT AMENITIES

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Microwave
  • Washer/Dryer Hookup
  • Vinyl Flooring

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 2 $1,500 -
2+2 4 $2,800 717
3+2 1 $3,600 952
Walk Score®
Very Walkable (72)

ZONING

Zoning Code RS-1-7 (The zoning is RS-1-7 in the city of San Diego.)
  • Listing ID: 34638610

  • Date on Market: 1/28/2025

  • Last Updated:

  • Address: 4232 Sharron Pl, San Diego, CA 92115