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28118525
28118527

4629-35 Alabama Street, San Diego, CA 92116

AH
CA CA 01981817
Marcus & Millichap - San Diego
LS
CA 02217656
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego
$3,150,000
211 days on market
Updated 52 days ago

4629-35 Alabama Street

Details
APN 4450610800
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,405
Net Rentable (SqFt) 6,545
Units 8
Cap Rate 3.38%
NOI $106,612
Price per SqFt $481
Year Built 1968
Year Renovated 2025
Buildings 2
Stories 2
Acreage 0.170

Multifamily | 8 Units | $393,750/unit

Marketing description

We are pleased to present 4629-35 Alabama Street, an 8-unit multifamily property located in the heart of University Heights, one of San Diego’s most sought-after rental neighborhoods. The property features a desirable unit mix consisting of two (2) one-bedroom/one-bathroom units, five (5) two-bedroom/one-bathroom units, and one (1) five-bedroom/three-bathroom unit. This balanced configuration appeals to a wide range of renters, from young professionals to families, offering flexibility and strong leasing potential. University Heights is a vibrant, centrally located community known for its walkability, eclectic dining options, and proximity to major employment centers. Its unique blend of historic charm and modern amenities makes it a magnet for long-term residents and new arrivals alike. The neighborhood’s connectivity to Mission Valley, Hillcrest, and Downtown San Diego via major freeways and transit corridors further enhances its appeal to renters seeking convenience and lifestyle. 4629-35 Alabama Street presents a compelling opportunity for investors to acquire a well-maintained asset in a high-demand market. With strategic renovations and management, there is significant potential to enhance value and achieve competitive rental rates

Investment highlights

  • Supreme location just south of the vibrant Adams Avenue in University Heights - one of San Diego’s most desirable rental submarkets

  • Spacious and versatile 2,200 SF 5-bed, 3-bath unit — a rare opportunity with strong owner-occupant appeal and high rental income potential

  • Seller Financing Available - Seller will carry back $2.1 Million at 4.25% interest only.

  • Attractive unit mix of one-, two-, and five-bedroom units catering to diverse tenant profiles

  • Regarded as a Walker's Paradise with a Walk Score of 94 by WalkScore.com

  • Easy access to major employment centers including Mission Valley and Downtown San Diego Proximity to public transit, parks, restaurants, nightlife, and community amenities

  • Strong rental demand supported by the neighborhood’s central location and vibrant culture

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Listing Contacts

AH
CA CA 01981817
Marcus & Millichap - San Diego
LS
CA 02217656
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$106,612.00
$8,884.33/mo

Valuation Metrics

0
DSCR
3.38%
Cap Rate
3.38%
ROI

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Additional Information

Name
Austin Ray Huffman
License
CA 01981817
Name
Liam Sylvia
License
02217656
Brokerage
Marcus & Millichap
Title
Associate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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