3470 MONROE AVE San Diego CA 92116-4569

We are pleased to present 3470 Monroe Ave, an 8-unit apartment complex located in the Normal Heights neighborhood of San Diego, CA. Built by Ray Huffman Construction in 1970, the subject property is comprised of a 2-story wood frame building with a concrete slab foundation. The unit mix consists of five (5) one-bedroom/ one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit.

Remodeled unit interiors feature faux wood vinyl plank flooring, granite counter tops, stainless steel appliances, and kitchen and bathroom cabinets. The property has upgraded systems including a repaired foundation, upgraded plumbing, energy efficient lights, doors, and dual pane windows and sliders. Other attributes include onsite laundry and abundant parking for tenants with two (2) double-car garages.

A landmark neon sign over Adams Avenue at Felton Street identifies the neighborhood of Normal Heights, which is a highly desirable neighborhood located between Interstates 805 and 15 bordered by Mission Valley to the North and El Cajon Boulevard to the South. Like other urban mesa neighborhoods north of Balboa Park, Normal Heights has a high rate of pedestrian activity. Several important neighborhood events take place in Normal Heights such as the Adams Avenue Street Fair, which is Southern California's largest free music festival, is typically held the last weekend in September. With an array of local eateries, bars, and unique thrift stores, this neighborhood has been seeing rapid growth over the past year and is becoming one of the most coveted locations for renters.

This property lends investors the opportunity to acquire a fully rehabbed asset with upside in one of San Diego's most desired rental markets.

• Extensively renovated asset with rental upside

• Desirable unit mix of one- and two-bedroom floorplans

• Prime location in the heart of Normal Heights, one of San Diego’s most walkable and culturally rich neighborhoods

• Prime location in the heart of Normal Heights, one of San Diego’s most walkable and culturally rich neighborhoods

• ADU conversion potential

• Easy access to Interstate 805 and 15