3736 Mississippi Street

San Diego, CA 92104

$3,199,000
Price
11
Beds
7
Baths
4,206 Sq. Ft.
$761 / Sq. Ft.
4,206
Sq. Ft.
$761
per Sq. Ft.

Description

Presenting an exceptional investment opportunity with a 5.1% Cap Rate in the highly desirable North Park area of San Diego. Located just three blocks from Morley Field and Balboa Park, this 4,710-square-foot, six-unit multifamily building offers tenants convenient access to a wide range of amenities, including tennis courts, a dog park, and expansive athletic facilities all within walking distance. This fully occupied, well-maintained property features two 1-bedroom, 1-bath units; three 2-bedroom,...Presenting an exceptional investment opportunity with a 5.1% Cap Rate in the highly desirable North Park area of San Diego. Located just three blocks from Morley Field and Balboa Park, this 4,710-square-foot, six-unit multifamily building offers tenants convenient access to a wide range of amenities, including tennis courts, a dog park, and expansive athletic facilities all within walking distance. This fully occupied, well-maintained property features two 1-bedroom, 1-bath units; three 2-bedroom, 1-bath units; and one 3-bedroom, 2-bath unit. It also features four 1-car garages, 6 uncovered parking spots, and ample off-street parking, a rare find in this neighborhood. Recent updates include upgraded kitchens and refreshed landscaping minimizing maintenance costs and maximizing return on investment. The spacious and thoughtfully designed units are in great condition, attracting quality tenants and offering robust rental income potential. Positioned in the heart of North Park, one of San Diego's trendiest and most vibrant neighborhoods, this property benefits from its proximity to popular local attractions, shopping, and dining hotspots. Residents can enjoy renowned restaurants like The Smoking Goat, Urban Solace, and Tribute Pizza, along with entertainment venues such as the Observatory North Park. The area's thriving business scene and diverse cultural offerings add to its appeal, making it a prime location for investors seeking long-term growth and steady cash flow. With its central location, strong tenant appeal, and potential for appreciation, this property is an ideal addition to any multifamily real estate portfolio. Don't miss out on the chance to invest in one of San Diego's most in-demand and dynamic neighborhoods, where a combination of art, culture, and commerce creates an environment poised for continued growth.
  1. Listed by Brandon Meneses • DRE #02112187 • Brokerage DRE #01993345 • The Beverly Hills Estates
  2. Listed by Dennis Dewalt • DRE #02116703 • Brokerage DRE #01993345 • The Beverly Hills Estates

Property Details for 3736 Mississippi Street

Zoning
RM-1-1
Parcel Number
4530213000
Total Units
6.0
Living Area
4206
Source Living Area
Vendor Enhanced
Area
North Park (NOP)
Vacancy Rate
0
Lot Size Area
7022
LISTING UPDATED: 11/18/2024 03:24 PM

Property Details for 3736 Mississippi Street

StatusActive
MLS #24-455505
Days on Market60
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.16 AC / 7,022 SF
CountySan Diego County

Building Information for 3736 Mississippi Street

Stories2Residences-Year Built1986Building Size-Lot Size0.16 AC / 7,022 SF

Property Information for 3736 Mississippi Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: Trust/Conservatorship
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $196,320
  • Net Operating Income: $173,632.00
  • Gross Income: $0
  • Cap Rate: 5.10%
  • Gross Rent Multiplier: $17.31
  • Total Annual Expense: 22688
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1612
  • Lot Size Square Feet: 7022
Parking Details
Parking Details
  • Parking Garage: Driveway, Garage - 4+ Car, Garage Is Attached, On street, Private Garage, Shared Driveway
  • Total Parking: 11
  • Open Other Spaces Total: 7
  • Garage Spaces Total: 4
  • Parking Features: Driveway, Street, Private, Shared Driveway
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Forced Air
  • Heating Type: Forced Air
  • Equipment: Ceiling Fan, Dishwasher, Freezer, Range/Oven, Refrigerator
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,350.00
  • Unit Actual Rent: $4,325.00
  • Unit Projected Rent: $4,700.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,845.00
  • Unit Actual Rent: $8,535.00
  • Unit Projected Rent: $9,750.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,500.00
  • Unit Actual Rent: $3,500.00
  • Unit Projected Rent: $3,875.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $397,385.00
  • Assessed Improvement Percent: 51.83
  • Assessed Land Value: $369,315.00
  • Assessed Land Percent: 48.17
  • Assessed Total Value: $766,700.00

Property History for 3736 Mississippi Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3736 Mississippi Street

This home is within San Diego Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 1 to 12
Public - K to 12
Rating
School
Distance
Jefferson Elementary School
PublicK to 5

Roosevelt International Middle School
Public6 to 8

Alba School
Public1 to 12

Home & Hosp/Transition Support
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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3736 Mississippi Street is a multi-family home for sale in San Diego, CA 92104. This property was listed for sale on October 22, 2024 by The Beverly Hills Estates, it's currently listed at $3,199,000. This listing's school district is San Diego Unified School District. Nearby schools include Jefferson Elementary School, Roosevelt International Middle School and Alba School. 3736 Mississippi Street is a 11-bed, 7-bath, 4,206 sqft multi-family home built in 1986.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Beverly Hills Estates, Brandon Meneses, DRE #02112187; The Beverly Hills Estates, Dennis Dewalt, DRE #02116703

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