Listed by Marcus & Millichap - San Diego
$1,995,000
Cherokee Point
Details
APN 4476412900
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,660
Units 4
Cap Rate 4.48%
Year Built 1987
Buildings 1
Multifamily | 4.48% CAP | 4 Units
Marketing description
Landis Canyon Apartments is a 4-unit, canyon-facing property built in 1987, consisting of four large 3BR/2BA units situated on a 0.21-acre flat lot in the highly desirable 92104 zip code. The asset offers stabilized market rents with current income of approximately $11,400/month, along with architectural plans in place to add two additional units (2BR/2BA + 3BR/3BA), projected to generate an additional ~$7,000/month. The property is centrally located between the 805 and 15 freeways, within close proximity to North Park, South Park, and Normal Heights. Tenants benefit from walkable access to retail, dining, and entertainment, while the large unit sizes appeal to both families—due to nearby schools and conveniences—and young professionals seeking an urban lifestyle
Listing Contacts
Listed by Marcus & Millichap - San Diego
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