The 37th Street Apartments is a completely renovated 7 unit apartment building located in the Mid City submarket of San Diego. Situated on a 6,992 square foot parcel, the property consists of four 2-Bed/2-Bath units, three 1-Bed/1-Bath units and a potential 8th unit / ADU by converting the 2 single car garages. The property also has twelve on-site parking spaces, an on site laundry facility, and RUBS have been implemented to reduce expenses and increase cash flow. There is an assumable loan at 3.85%, which is interest only through August, 2023 and amortized thereafter until August, 2025. The property has been well kept over the years and an opportunity exists to further increase rents with proper management techniques in place. The property is located approximately 6 miles from Downtown San Diego and is in close proximity to the 805, 15, and 8 freeways, providing residents easy access to employment centers, shopping, dining, and entertainment. Additionally, the property is approximately 4.5 miles from San Diego State University. The 37th Street Apartments is a fantastic opportunity for an investor looking for long term wealth preservation and growth in one of central San Diego's strongest rental neighborhoods.
Listing courtesy of Listing Agent: Dylan E Wright (619-255-3233) from Listing Office: MD Real Estate, Inc.
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