Description

3837-3841 KENDALL ST is a five-unit multifamily offering at 3837-41 Kendall St in San Diego’s Pacific Beach submarket. Located in the Crown Point neighborhood, the Property pairs an established rental operation with walking access to Crown Point Park and Mission Bay.

Built in 1957, the Property has 3,700 SF across five two-bedroom, one-bath units averaging 740 SF. Average rent is $3,280 per month, giving buyers an existing income stream rather than a vacant-unit repositioning story. Upgraded kitchens and bathrooms, newly installed electrical subpanels and meter panels, and assigned parking and garages support the day-to-day rental offering. Three one-car garages and off-street parking add utility for residents.

Crown Point Park and Mission Bay are within walking distance, connecting residents to beaches, parks, and recreation without making a car trip part of every outing. The Crown Point setting also places the Property within the broader Pacific Beach area, where dining and coastal amenities contribute to the residential appeal. For an investor, that location gives the five-unit property a clear renter-facing identity alongside its current income.

The asking price is $3,000,000, or $600,000 per unit and $811 PSF. In-place NOI is $123,015 at a 4.10% in-place cap rate; in-place rents are $197,400, compared with market rents of $231,900. The 15.2 GRM and 12.9 potential GRM give buyers distinct current and market-rent reference points without assuming that higher income has been achieved. Review the Offering Memorandum for the investment opportunity.