34-48 D AVE & 331-337 E 1ST ST
Price
$3,300,000
Price Per Unit
$275,000
Price Per Square Foot
$351.06
Financing Available
Assumable Loan
Proforma CAP
6.82%
Proforma NOI
$225,085
Number of Units
12 Units
Building Square Feet
9,400 SF
Lot Size
0.35 Acres
Year Built
1952
APN
556-010-48-00
556-010-50-00
Situated in the heart of National City—a dynamic, centrally located community known for its rich cultural heritage—this property offers strong tenant appeal. National City provides convenient access to key amenities, including popular shopping centers, diverse dining options, parks, and cultural landmarks, making it an attractive destination for both professionals and families. Its proximity to major transportation hubs, Downtown San Diego, the Port of San Diego, and key employment centers enhances its desirability, offering tenants short commutes and plentiful recreational opportunities.
While the property has not been recently renovated, its classic charm presents a valuable opportunity for investors seeking to add value through updates. The current condition offers flexibility for customization, making it ideal for buyers looking to modernize units or reposition the property to meet the growing demand for upgraded rentals in this evolving and highly accessible area.
This property reflects its prime location, diverse unit mix, and potential for value-add improvements. With ten two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units, the proper-ty offers a strong foundation for generating rental income. Features like individual garages and outdoor spaces enhance its appeal, providing opportunities for higher rents with future upgrades.
As San Diego’s real estate market continues to appreciate, especially in emerging communities like National City, this property is well-positioned to deliver both stable rental income and long-term capital growth for investors ready to unlock its full potential.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094