Brokerage
Brokerage
2842 Fairmount Ave
2842 Fairmount Ave, San Diego, CA 92105, USA
Pending
$1,395,000
Fully Renovated 4-Unit Multifamily Property
Property Type
Multifamily
Units
4
SqFt
3,043
Price
$1,395,000
Price/Unit
$348,750
Year Built
1955
Market
San Diego
Price/SF
$458
Cap Rate
5.13%
GRM
13.39
Unit Mix
(1) 2bed/1bath, (3) 1bed/1bath
Property Description
Top Gun CRE is proud to present 2842-48 Fairmount Ave, a fully renovated 4-unit multifamily property located in the up-and-coming neighborhood of City Heights, San Diego. This property offers investors a unique opportunity to acquire a well-upgraded asset in a central, high-demand rental market known for its cultural vibrancy and continued growth.
The property consists of one spacious 2-bed/1-bath unit and three 1-bed/1-bath units, each renovated with modern finishes. Recent updates include refreshed kitchens, bathrooms, flooring, and fixtures, positioning the property as a turnkey investment. Currently in the lease-up stage, with rents ranging from $1,995 to $2,695 per month.
Situated on a 4,810 SF lot, the property also features well-maintained outdoor areas with new fencing, turf, and landscaping, offering tenants a pleasant and inviting environment. Additionally, three single-car garages provide added convenience and further enhance the property’s marketability.
City Heights is a thriving urban neighborhood that has seen a surge in redevelopment projects and infrastructure improvements. The property benefits from proximity to public transportation, retail, and dining, making it a highly attractive location for renters. Investors will enjoy the dual benefits of immediate cash flow and long-term value appreciation in this centrally located and fast-evolving community.
This is a rare chance to acquire a modernized asset in a dynamic, high-demand area with strong growth prospects.