942 23rd St
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942 23rd St
6 Unit Apartment Building $3,179,950 ($529,992/Unit) 5.50% Cap Rate San Diego, CA 92102
EXECUTIVE SUMMARY
Fully furnished vacation rental units with strong financial income. High occupancy rate all year! Charming multi-family home nestled in desirable Golden Hill minutes to Downtown San Diego. The property features 6 units, each with its own unique layout and design, providing flexibility for tenants or potential buyers. Whether you're looking for a primary residence with rental income potential or a full-fledged investment property, this home offers versatility and opportunity. Enjoy the convenience of a prime location with Broadway as the cross street offering numerous benefits such as easy access to local amenities, shopping, dining, and entertainment options. The property features upgraded kitchens and bathrooms throughout. Hardwood floors and a large ornamental fireplace in the main unit. Two units have private decks and all units have access to a large rear yard with a mature avocado tree, shaded patio, an outdoor kitchen, fire pit area for mingling, partying as well as a newer spa for relaxation. The property has undergone a $350,000 renovation, including landscaping upgrades in both the front and backyards, creating a mini oasis. All units come fully furnished including appliances with smart locks ready for occupancy. Paid solar panels as well as newer mini split HVAC in each unit. Don't miss out on this fantastic opportunity to own a piece of real estate in a thriving community. Schedule a showing today and explore the potential of 942 23rd St!
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| 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 | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,179,950 | Apartment Style | Low Rise |
| Price Per Unit | $529,992 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.50% | Building Size | 2,185 SF |
| Gross Rent Multiplier | 15 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 0.23/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,179,950 |
| Price Per Unit | $529,992 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 15 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,185 SF |
| No. Stories | 1 |
| Year Built | 1921 |
| Parking Ratio | 0.23/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 5 | - | - |
1 of 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 534-382-12 | Total Assessment | $1,282,843 (2024) |
| Land Assessment | $892,413 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $390,430 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
534-382-12
Land Assessment
$892,413 (2024)
Improvements Assessment
$390,430 (2024)
Total Assessment
$1,282,843 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
ZONING
| Zoning Code | R4 |
| R4 |
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942 23rd St
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