Case Study: 3762 41st St, San Diego 92105

4-Unit Apartment Building | Sold for $925,000 | City Heights

Property Overview

3762 41st Street is a four-unit apartment building located in the high-demand City Heights submarket—one of San Diego’s strongest rental corridors for workforce housing and value-add investors.

Transaction Summary

• Sale Price: $925,000

• Asset Type: Multifamily – Fourplex

• Unit Mix:

  • (4) 2 Bed / 1 Bath Units

• Representation: Represented Seller

• Submarket: City Heights, San Diego

Advisory Narrative: The Strategy

This sale reflects ongoing dominance in City Heights multifamily, a submarket where experienced operators rely heavily on accurate valuation, realistic rent-growth assumptions, and understanding tenant demographics. Similar transactions across San Diego include a fourplex property sale reported by MultifamilyBiz.

1. Positioning for the City Heights Buyer Pool

City Heights fourplexes attract:

• Cash-flow investors

• Value-add buyers

• Exchange buyers seeking reliable units

• New investors entering the San Diego apartment market

Marketing framed the asset around:

• Strong rental demand

• Historically low vacancy in the submarket

• Stable two-bedroom unit layouts

• Long-term tenant retention trends

This positioned the property as a high-certainty investment rather than a speculative value-add play.

2. Navigating Pricing Sensitivity

City Heights is extremely price-sensitive due to:

• GRM and CAP expectations

• Rent ceiling limits

• Investor underwriting demands

Valuation and pricing strategy aligned with:

• Current rents

• Market-supported rents

• Capitalization rate expectations for 4-unit assets

This ensured competitive offers without extended market time.

3. Structuring a Smooth Transaction

Key elements you managed:

• Buyer qualification and proof-of-funds

• Inspection and repair negotiation balance

• Ensuring clean transfer of tenants

• Coordinating with lender and buyer timelines

Experience with similar assets prevented delays and kept the sale on track.

Thinking About Selling?

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