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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250025254
Property Description
Turnkey 5-unit multifamily asset in the high-demand North Park metro area, right at the edge of the Corridor/Cherokee Point neighborhoods. 3862-70 Swift Ave includes three 3BD/2BA units, one 2BD/2BA, and one 2BD/1BA—all fully rehabbed and updated with modern finishes and systems. Zero deferred maintenance and minimal capex projections in the long run make this a highly sought after passive real estate investment. Currently generating $14,784/month in gross rents with a 5.0% cap rate. Pro forma income is $15,975/month, delivering a projected 5.6% cap rate at market rates. This fully stabilized investment opportunity offers high upside in a rapidly appreciating submarket. Strong unit mix, updated interiors, and proximity to North Park's retail, dining, and transit make this an ideal asset for investors seeking solid in-place income with future growth potential. Clean financials, renovated product, and a location that consistently drives tenant demand.
Location
State CA
County San Diego
Area North Park (92104)
Building
Story 1
Others
Space Rent $177,408
Listed by Jason J Lee • JLM Real Estate Inc
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "