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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 an 8 unit apartment building in North Park, San Diego, one of the California’s most dynamic and sought-after real estate markets, closing at 101% of the list price at $2,775,000. 3711 Grim Ave 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.

Boasting a strategic location just a block away from University and 30th, 3711 Grim Avenue offers unparalleled convenience and access to North Park’s vibrant culinary, entertainment, and retail scene. From acclaimed restaurants and cozy coffee shops to lively pubs and eclectic boutiques, this area is a haven for residents and visitors alike.

  • 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

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