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Key Details
Sold Price $2,400,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,585 sqft
Price per Sqft $364
MLS Listing ID NDP2402876
Sold Date 06/18/24
HOA Y/N No
Year Built 1968
Property Description
Investment Opportunity Awaits. 10-Unit Multifamily Gem in Prime Location 4020 Cherokee Ave presents an unparalleled value-add investment opportunity for those looking to capitalize on the booming real estate market. This multifamily property, featuring a generous 6,585 sqft of living space on a sprawling 7,742 sqft lot, offers the perfect blend of potential and location. Comprising six 1-bedroom, 1-bathroom units and four 2-bedroom, 2-bathroom units, this property caters to a wide range of tenants. With 8 of the 10 units currently occupied, investors will enjoy immediate income generation. The two vacant units present an excellent opportunity for cosmetic enhancements to maximize rental income. Each unit comes with a dedicated parking spot, totaling 10 parking spaces. This highly desirable amenity enhances tenant satisfaction and retention. While structurally sound, this property is a blank canvas awaiting your vision. Cosmetic updates can significantly increase its value and rental appeal, offering an attractive ROI to the savvy investor. Located in the vibrant 92104 ZIP code, tenants have easy access to local amenities, public transportation, and major employment hubs. This multifamily property is a rare find for investors seeking to expand their portfolio with a project that promises both immediate returns and long-term capital appreciation. Whether you're looking to apply cosmetic updates to reposition the asset or hold it as a steady income source, 4020 Cherokee Ave offers a solid foundation for success.
Location
State CA
County San Diego
Area 92104 - North Park
Zoning Commercial
Interior
Fireplace No
Exterior
Total Parking Spaces 10
Building
Lot Description 0-1 Unit/Acre
Story 2
Others
Tax ID 4474111900
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Benn Vogelsang • NorthMarq Multifamily