3432 Florence St

Pleased to present 3432-34 Florence St – 16 unit apartment building comprised of 100% 2  bedroom / 1 bathroom units totaling 11,144 SqFt on a 39,204 SqFt lot. This asset is currently generating a monthly gross rental income of $27,090 rent increases to go into place taking affect July 2023 taking the total monthly income to $29,680. Market rate rental income upside should bring in close to $36,000/mo. Each unit features a private balcony or patio for outdoor space for tenants to enjoy. The property also features ample off-street parking and laundry facilities. Tenants can quickly access most areas of San Diego via the I5 and I15 Freeways, within 10 minutes of Balboa Park, Downtown San Diego, and Coronado Island. This is a great investment for a value-add investor looking to add sweat equity into the building to produce a high income producing asset.

Assumable Financing Available through Chase Bank - $2.6M Assumable Loan Balance, 4.27% interest 30 Year AM principal and interest Fixed through 2027 (3.5 years)