4114 39Th St

San Diego, CA 92105

$2,099,000

List Price

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Property Description

Exceptional Investment Opportunity in Cherokee Point – Fully Renovated 5-Unit Property This fully renovated, turnkey 5-unit multifamily property in Cherokee Point offers an exceptional blend of modern upgrades and investment potential. The property features three detached 2-bedroom, 1-bathroom craftsman cottages with private yards and laundry hookups, along with a two-story duplex comprising two 1-bedroom, 1-bathroom units that share a common laundry room. Four single-car garages provide additional income potential, with a feasibility study confirming their conversion into two accessory dwelling units (ADUs). All units have been thoughtfully updated with new kitchens, appliances, flooring, lighting, fresh paint, bathrooms, roofs, windows, HVAC systems, plumbing, electrical. The landscaped community includes outdoor seating areas, a dog run, automatic sprinklers, mature trees, and a block wall with a secure privacy gate, ensuring an inviting and safe environment. Currently fully leased with 12-month contracts at market rates, the property offers immediate cash flow with a 5.86% cap rate. Located in a Transit Priority Area (TPA), it also has significant upside potential, with zoning allowing for up to 16 additional units. A feasibility study is available, detailing costs and timelines for expansion and garage conversions. Less than a block from a park and school, this gated property is ideal for investors, multigenerational living, or owner-occupancy with rental income. Don’t miss this rare opportunity to acquire a stabilized asset with future growth potential.

Listing Information

List Price $2,099,000
Status Active
MLS 250000276SD
HOA $0
Type Commercial
Subtype Mixed Use
Lot Size 7,001
Structure Size N/A
Courtesy Of Compass
Listing Agent Seth Struiksma DRE#01868552

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Maps

Listing information courtesy of: Seth Struiksma, Compass 714-448-4699. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 5th, 2025 at 12:32 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.