4321 33rd Street, San Diego, CA - Berkshire Hathaway HomeServices California Properties

4321 33rd Street, San Diego, CA

$2,200,000 Approx. USD 8 beds, 8 baths

Listing Agent


Corey McHenry
Lic#: 01800485
Broker: Courtesy of David Santistevan

Agent Remarks

NEW REDUCED PRICE | Seller Motivated | 5.81% Current Cap Rate | 6.45% Market Cap Rate. 4321 33rd Street, San Diego, CA 92104 is a newly built (2022) 5 unit apartment property located in the trendy Normal Heights area of mid-city San Diego with walking distance to Adams Avenue’s bustling restaurant and brewery scene and just a short drive to North Park, University Heights, South Park, Hillcrest & Kensington. The property boasts 80% HUGE 1,000 SF 2BR/2BA units with high end finishes and 14’ ceilings on the 2nd level. The property is extremely efficient with limited landscaping and on-going maintenance. The units boast individual hot water heaters, and electric meters (no gas) and submeters for water. Although the rents are very close to market, there is still additional upside in rents on turnover/lease renewal for each unit. Property is also exempt for California Rent Control AB-1482, due to the newer age of construction. NOTE that the property is 4 legal units with a 5th unit that is nonconforming. Due to recent changes to city density and ADU regulations, a buyer should have a clear path to perfecting the 5th unit. Buyer to Investigate viability of perfecting the 5th unit. Email listing agent for Offering Memorandum

Listing Details

Property type: Res Income 2-4 Units (Multi-Family)
Status: PENDING
MLS# 240027406
List price is $2,200,000 Reduced by $195,000 on 5/19/2025
Price: $2,200,000
Beds: 8
Baths: 8
1 story
0.00 acres
County: San Diego
Construction: Stucco,Wood/Stucco
MLS area: Metro Uptown

Last Updated: 7/10/2025

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This listing belongs to the Metro Uptown MLS area

Lat/Long: 32.755855, -117.121802.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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