Michael Thomas
California Lending & Realty
(858) 302-4363
54 Total Sales
1 in Cherokee Point
$538,888 Price
3820 40th St San Diego, CA 92105
Cherokee Point Neighborhood
11
Beds
8
Baths
5,200
Sq Ft
6,970
Sq Ft Lot
About This Home
As of June 2021This multi-family apartment building investment located at 3820 40th Street in the heart of the city of San Diego. The investment is very close to major freeways and located in the up-and-coming neighborhood of Cherokee Point, a community of City Heights. The apartment building is comprised of 7 well-maintained units with a unit mix of 1BD, 2BD, and 3BD apartments adding up to a total of 5,200 rentable square feet. Built in 1977, the 100% leased apartment building has had many improvements done throughout the years. There is significant potential for rental income growth, since the rents are well below market. The subject property is centrally located off University Avenue and 40th Street with excellent access to City Height’s transportation corridors including highways 15, 805 and 8. and easy public transportation. The property is within close proximity to shopping, restaurants, parks and schools with easy public transportation making the investment property desirable for existing and future tenancies.
Last Agent to Sell the Property
Cethron Property Management License #02012987 Listed on: 05/04/2021
Co-Listed By
David Pearl
Cethron Property Management License #02119412
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Property Details
Home Type
- Multi-Family
Lot Details
- 6,970
Home Design
- Frame Construction
- Stucco
Interior Spaces
- 11 Bedrooms
- 5,200 Sq Ft Home
- 2-Story Property
Parking
- 10 Car Garage
- Parking Available
Additional Homes
- Number of ADU Units: 1
Utilities
- Cooling System Mounted To A Wall/Window
- Radiant Heating System
Community Details
- 7 Units
- Operating Expense $48,559
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 4, 2021
Closed on
May 27, 2021
Sold by
Bought by
Seller's Agent
Claudia Adatto
Cethron Property Management
Buyer's Agent
Benn Vogelsang
NorthMarq Multifamily
List Price
$1,950,000
Sold Price
$1,699,562
Premium/Discount to List
-$250,438
-12.84%
Purchase Details
Closed on
Dec 12, 2018
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$525,000
Interest Rate
4.8%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 24, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
5.8%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 19, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
5.8%
Mortgage Type
Commercial
Purchase Details
Closed on
Jul 19, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$42,000
Interest Rate
6.28%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Apr 19, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$385,000
Interest Rate
6.51%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 28, 2002
Sold by
Bought by
Purchase Details
Closed on
Nov 8, 2001
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
6.63%
Mortgage Type
Commercial
Purchase Details
Closed on
Feb 19, 1997
Sold by
Bought by
Purchase Details
Closed on
Feb 6, 1997
Sold by
Bought by
Purchase Details
Closed on
Jul 3, 1996
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Cherokee Point, CA
-
Michael Thomas
-
Greg Fox
Greg Fox
Coldwell Banker West
(858) 289-5837
69 Total Sales
1 in Cherokee Point
$525,000 Price
-
Ryan Dick
Ryan Dick
Compass
(858) 633-5638
41 Total Sales
1 in Cherokee Point
$730,000 Price
-
Dawn Boquet
Dawn Boquet
Coldwell Banker Realty
(858) 299-6038
23 Total Sales
1 in Cherokee Point
$610,000 Price
-
Maria Pecoraro
Maria Pecoraro
Willis Allen Real Estate
(858) 585-9106
26 Total Sales
1 in Cherokee Point
$800,000 Price
-
Ryan Main
Ryan Main
Compass
(858) 997-2172
53 Total Sales
1 in Cherokee Point
$850,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,700,000 | Chicago Title | ||
| -- | Chicago Title Company | ||
| -- | First American Title Co | ||
| -- | -- | ||
| -- | -- | ||
| $244,000 | Stewart Title | ||
| $565,000 | Stewart Title Company | ||
| -- | -- | ||
| $420,000 | California Title Company | ||
| -- | -- | ||
| -- | -- | ||
| $64,500 | Chicago Title Co |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | $525,000 | ||
| Previous Owner | $565,000 | ||
| Previous Owner | $438,000 | ||
| Previous Owner | $400,000 | ||
| Previous Owner | $42,000 | ||
| Previous Owner | $385,000 | ||
| Previous Owner | $336,000 | ||
| Previous Owner | $178,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/01/2021 06/01/21 | Sold | $1,699,562 | -5.6% | $327 / Sq Ft |
| 05/15/2021 05/15/21 | Pending | -- | -- | -- |
| 05/13/2021 05/13/21 | Price Changed | $1,800,000 | -7.7% | $346 / Sq Ft |
| 05/04/2021 05/04/21 | For Sale | $1,950,000 | -- | $375 / Sq Ft |
Source: San Diego MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $23,076 | $1,876,450 | $772,855 | $1,103,595 |
| 2025 | $23,076 | $1,839,657 | $757,701 | $1,081,956 |
| 2024 | $22,203 | $1,803,587 | $742,845 | $1,060,742 |
| 2023 | $21,712 | $1,768,224 | $728,280 | $1,039,944 |
| 2022 | $21,134 | $1,733,553 | $714,000 | $1,019,553 |
| 2021 | $10,418 | $841,613 | $307,742 | $533,871 |
| 2020 | $10,292 | $832,984 | $304,587 | $528,397 |
| 2019 | $10,109 | $816,652 | $298,615 | $518,037 |
| 2018 | $9,451 | $800,640 | $292,760 | $507,880 |
| 2017 | $9,226 | $784,942 | $287,020 | $497,922 |
| 2016 | $9,076 | $769,552 | $281,393 | $488,159 |
| 2015 | $8,942 | $757,994 | $277,167 | $480,827 |
| 2014 | $8,803 | $743,147 | $271,738 | $471,409 |
Source: Public Records
Agents Affiliated with this Home
-
Claudia Adatto
Seller's Agent in 2021
Claudia Adatto
Cethron Property Management
(619) 289-5362
4 Total Sales
-
D
Seller Co-Listing Agent in 2021
David Pearl
Cethron Property Management
-
Benn Vogelsang
Buyer's Agent in 2021
Benn Vogelsang
NorthMarq Multifamily
(415) 250-4947
89 Total Sales
Map
Source: San Diego MLS
MLS Number: 210011770
APN: 447-491-29-00
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