3752 Nile St
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3752 Nile St
7 Unit Apartment Building $2,868,140 CAD ($409,734 CAD/Unit) San Diego, CA 92104
Investment Highlights
- 7 Value Add Units West of the 805 in North Park
- Two Double Garages and 5 On Site Parking Spaces
- Attractive Price Per Unit and Price Per Square Foot for 92104
- Two Units Will be Delivered Vacant
- Spacious Unit Interiors
- Seller May Carry 1st Trust Deed to Qualified Buyer
Executive Summary
MD Real Estate, Inc is proud to present the Nile Street Apartment Homes, a charming 7 unit community located in the extremely high demand submarket of North Park. Originally constructed in 1973 the subject property consists of four spacious 1 Bedroom/1 Bath units and three spacious 2 Bedroom 1 Bath units on a 6,686 square foot parcel of land. Residents enjoy generous sized units with select upgrades done over the years, leased on site laundry, and on site parking. Additionally, the property has 2 double car garages in the rear providing a new buyer the possibility to add ADU's through the City of San Diego's generous ADU regulations. The subject property is located approximately 2 blocks from University Avenue offering residents plenty of shopping, dining, and entertainment options within walking distance.
The property will be delivered with two vacant units allowing a new buyer to immediately renovate and achieve top market rents on those units. The remaining occupied units are all month to month residents and have considerable rental upside via remodeling. There is an approximate 144% upside in rents via remodeling all units and renting at market rate.
The seller may consider carrying a first trust deed to a qualified buyer with an appropriate downpayment.
The property will be delivered with two vacant units allowing a new buyer to immediately renovate and achieve top market rents on those units. The remaining occupied units are all month to month residents and have considerable rental upside via remodeling. There is an approximate 144% upside in rents via remodeling all units and renting at market rate.
The seller may consider carrying a first trust deed to a qualified buyer with an appropriate downpayment.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$109,534
|
$16.14
|
| Other Income |
$1,721
|
$0.25
|
| Vacancy Loss |
$3,285
|
$0.48
|
| Effective Gross Income |
$107,970
|
$15.91
|
| Taxes |
$35,525
|
$5.23
|
| Operating Expenses |
$51,562
|
$7.60
|
| Total Expenses |
$87,087
|
$12.83
|
| Net Operating Income |
$20,883
|
$3.08
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $109,534 |
| Annual Per SF | $16.14 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,721 |
| Annual Per SF | $0.25 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,285 |
| Annual Per SF | $0.48 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $107,970 |
| Annual Per SF | $15.91 |
| Taxes (CAD) | |
|---|---|
| Annual | $35,525 |
| Annual Per SF | $5.23 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $51,562 |
| Annual Per SF | $7.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $87,087 |
| Annual Per SF | $12.83 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $20,883 |
| Annual Per SF | $3.08 |
Property Facts
| Price | $2,868,140 CAD | Building Class | C |
| Price Per Unit | $409,734 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,874 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,868,140 CAD |
| Price Per Unit | $409,734 CAD |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,874 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.03/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,215 CAD | 582 |
| 2+1 | 3 | $2,165 CAD | 770 |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 446-493-39 | Total Assessment | $1,084,155 CAD |
| Land Assessment | $356,295 CAD | Annual Taxes | $35,525 CAD ($7.29 CAD/SF) |
| Improvements Assessment | $727,861 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
446-493-39
Land Assessment
$356,295 CAD
Improvements Assessment
$727,861 CAD
Total Assessment
$1,084,155 CAD
Annual Taxes
$35,525 CAD ($7.29 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | R4 |
| R4 |
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MD Real Estate Inc
3752 Nile St
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