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2842-48 Fairmount Ave

2842 Fairmount Avenue, San Diego, CA, USA

Pending

$1,465,000

Value-add Four-unit Residential Income Property

Marketing Package
Drone Video

Property Type

Multifamily

Units

4

SqFt

3,043

Price

$1,465,000

Price/Unit

$366,250

Year Built

1955

Market

San Diego

Price/SF

$481

Cap Rate

1.77%

GRM

26.84

Unit Mix

(1) 2bed/1bath, (3) 1bed/1bath

Property Description

Top Gun CRE is pleased to present 2842-48 Fairmount Ave, a value-add four-unit residential income property nestled in the vibrant community of City Heights, San Diego. This property features two separate structures, with a front building that includes three 1bed/1bath units, each approximately 756 sq ft, and a rear building that houses a 2bed/1bath unit above three single-car garages.

These garages offer the potential for conversion into an additional dwelling unit (ADU), presenting a valuable opportunity to increase income and maximize the property's use.

With significant rent upside on the existing units, value-add buyers can renovate unit interiors and bring rents to market rates. The property also provides three uncovered parking spaces accessible from the alley, ensuring convenient parking for tenants.

In total, this property represents a fantastic value-add investment opportunity in one of San Diego’s most central urban multifamily markets.

Contact Agent

Nick Hernandez

786.334.7569

02207439

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