13
See all 13 photos
$5,350,000
Est. payment /mo
7,130 Sqft Lot
New
3864 35th Street San Diego, CA 92104
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250035401SD
HOA Y/N No
Lot Size 7,130 Sqft
Property Sub-Type Mixed Use
Property Description
We are pleased to present the opportunity to acquire Las Palmas Apartments, an 18-unit multifamily community located in the high-demand Cherokee Point neighborhood of San Diego, California. Las Palmas is a three-story, elevator-served property comprised of a desirable unit mix, including eleven two bedroom/ one-bath units, six one-bedroom/one-bath units, and one studio. The property has recently undergone significant capital improvements, including new exterior paint, all-new black vinyl windows, and targeted roof repairs. Eleven of the eighteen units have been fully renovated, offering immediate in-place cash flow with the ability to unlock further upside through the renovation of the remaining units. Ideally located just minutes from Balboa Park, Downtown San Diego, and several major employment hubs, Las Palmas benefits from strong demand drivers in one of the most vibrant and supply-constrained rental submarkets in San Diego. With limited new multifamily development in Cherokee Point and the surrounding North Park corridor, the property represents a compelling investment opportunity with both stability and value-add potential through continued interior improvements and operational efficiencies.
Location
State CA
County San Diego
Area 92104 - North Park
Interior
Fireplace No
Exterior
Total Parking Spaces 11
Others
Tax ID 44745227
Listed by Erik Anderson Newmark of Southern California