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34309223
34309225

4112 Bannock Avenue, San Diego, CA 92117 For Sale

GH
CA 02068512
Marcus & Millichap - San Diego
WD
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego
$2,429,000
9 days on market
Updated 9 days ago

4112 Bannock Avenue

Details
Property Type Retail, Multifamily
Sub Type Apartment Building
Square Footage 4,900
Net Rentable (SqFt) 4,900
Units 5
Cap Rate 5.21%
NOI $126,620
Price per SqFt $496
Year Built 1954
Buildings 3
Stories 2
Acreage 0.340
Ground Lease No

5 Units | North Clairemont

Marketing description

We are pleased to present 4112 Bannock Ave, a 5-unit multifamily property in the highly desirable Clairemont neighborhood of San Diego, CA. Clairemont is renowned for its picturesque surroundings, nestled between the natural beauty of Tecolote Canyon Natural Park and the recreational allure of Mission Bay Park, providing residents with a perfect blend of outdoor adventure and urban convenience.

The property features off-street parking & an attractive unit mix, comprised of three 2-bedroom/1-bath cottage style units, and two large 3-bedroom/2-bath units with private garages. Its strategic location in Bay Park offers seamless connectivity via Interstate 8, placing key destinations like Downtown San Diego (7 miles), San Diego International Airport (6 miles), and the University of San Diego (3 miles) within a short commute.

Clairemont is considered “Very Walkable,” with residents enjoying easy access to gourmet dining along Morena Boulevard and recreational hotspots such as Tecolote Canyon Golf Course and Playa Pacifica Park. Mission Bay Park, just minutes away, offers surfing, sunbathing, and dog-friendly beaches, making it a haven for outdoor enthusiasts. The neighborhood’s proximity to the University of San Diego, enrolling over 8,000 students, enhances its appeal to a diverse tenant base and supports a robust rent al market, bolstered by the area’s $1.5 billion annual economic impact from the university and nearby employment hubs. This property presents a rare opportunity for investors to acquire an asset in Bay Park, a submarket experiencing strong rental demand driven by its unique blend of natural beauty, recreational amenities, and urban accessibility.

Investment highlights

  • Desirable Clairemont location, within a short walk to Clairemont Town Square, proximate to major employment hubs and lifestyle amenities including nearby gyms, golf courses, and the California Coastline.
  • Ample off-street parking and two large garages.
  • Desirable unit mix comprised entirely of large two- and three-bedroom single story floorplans.
  • Additional density available by building the underutilized portions of the lot along with garage conversions.
  • Highly accessible corridor with excellent visibility and connectivity to I-5, I-805, and other major public transportation routes.

Listing Contacts

GH
CA 02068512
Marcus & Millichap - San Diego
WD
Marcus & Millichap - San Diego
Listed by Marcus & Millichap - San Diego

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$126,620.00
$10,551.67/mo

Valuation Metrics

0
DSCR
5.21%
Cap Rate
5.21%
ROI

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Additional Information

Name
Graeme Henderson
License
02068512
Brokerage
Marcus & Millichap
Title
Broker
Brokerage Address
12544 High Bluff Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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