3945 Alabama Street

San Diego CA 92104

Other

Currently for sale - view listing

Overview

3945-51 Alabama Street sits in the highly desirable neighborhood of North Park, which continues to be one of the most in-demand rental markets in uptown San Diego. Originally built in 1922, the 4-unit apartment complex boasts a Walk Score of 93 and totals approximately 1,800 in rentable square feet. The lot size is approximately 6,972 square feet and is in a Qualified Opportunity Zone. Spread across (2) duplexes the unit mix consists of (4) one bedroom / one bathroom units with only one shared wall. Three units have been recently renovated with new kitchens, bathrooms, stainless steel appliances including dishwashers and vinyl plank flooring. All units also feature mini-split A/C systems and individual washer/dryers. The property also boasts patio decks, an expansive yard area and (4) off street parking spaces. With below market rents and further potential for renovation on the remaining unit, there is ample opportunity for an investor to continue to increase cash flow. The property is located in a Qualified Opportunity Zone and Complete Communities Tier 3 creating potential for future redevelopment or the addition of ADU's. Located less than a block from University Avenue and three blocks from El Cajon Boulevard, the property is within walking distance of all the best of major attractions North Park has to offer. The eclectic neighborhoods of University Heights and Hillcrest are also within a few blocks of the property giving tenants access to even more shopping and dining options. Iconic Balboa Park is within 1 mile of the property with its countless attractions.