3225 Adams Ave Immeuble residentiel 9 lots 2 552 635 € (283 626 €/Lot) Taux de capitalisation 3,18 % San Diego, CA 92116

Marcus & Millichap is pleased to present 3225-33 Adams Avenue located in San Diego, California. Originally built in 1927, the 9-unit apartment complex is located in the highly desirable neighborhood of Normal Heights and boasts a Walk Score of 94. The complex rests on a 6,347 square foot lot and features approximately 3,986 rentable square feet.
The unit mix consists of (1) two-bedroom / one-bathroom unit and (8) one-bedroom / one bathroom cottage units. Units feature refurbished hardwood flooring and cottage-style layouts with no shared walls. Current ownership has diligently maintained the property and recently upgraded roofs with SPF and relined the sewer main with epoxy liner. The electrical system has been upgraded and rear building staircase completely rebuilt. Attractive tenant offerings include: a quaint communal courtyard, secure gated entry and unbeatable walkability to nearby retail. Parking is offered with (5) attached single car garages that also offer ADU potential. With ample possibility for renovation, the
property presents a strong value-add opportunity for an investor looking to extensively renovate the units in order to bring current rents to market
and maximize overall cash flow.