Slide

The Grim Avenue Apartments
3711 Grim Avenue

San Diego, CA 92104

The Grim Avenue Apartments
3711 Grim Avenue

San Diego 92104

New 8 Unit Investment in Prime North Park

PROPERTY HIGHLIGHTS

SOLD

Sold Recap:

Eric von Bluecher and Ivan Del Muro Garcia represented the Sellers of 8 units in North Park, San Diego, closing 101% of list at $2,775,000. 3711 Grim was brought to market on 11/1/23, full marketing was executed here. The building was held for several decades and well maintained. Over five offers were generated within two weeks of listing the property. We entertained offers from both investors and brokers. The highest offer with the best terms was selected. Closing date was 12/28/23 at $2,775,000, 101% of list price.

  • Asking Price: $2,750,000
  • Closed Price: $2,775,000
  • Number of Units: 8
  • Unit Mix: (3) 2-Bed, 2-Bath; (1) 2-Bed, 1-Baths, (4) 1-Bed, 1-Bath
  • Current Gross Income: $174,300 / Market Gross Income: $253,800
  • Current GRM: 15.72 / Market GRM: 10.81
  • Current Cap Rate: 3.61% / Market Cap Rate: 6.41%
  • Upside Potential: 45%+/-
  • Area: Located a block from both University and 30th with numerous great restaurants, coffee, pubs, shopping and more.

For more information, please contact us below!

760-929-7846

evb@lee-associates.com

1902 Wright Place, Suite 180
Carlsbad, CA 92008, USA

Subscribe for Inventory & Reports