USACASan DiegoNorth Park3853 Cherokee Ave

New

$3,425,000

For Sale

12 hours ago

3853 Cherokee Ave, San Diego, CA

Name: 3853 Cherokee Ave, For Sale in San Diego - eXp Realty
Brand: Salvatore Joseph Provenza Jr
SKU: OC26221753
Price: 3425000 USD

Condo

MLS® OC26221753

0 Bed

0 Bath

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage

HOA Fees

Taxes

Days Active 1

Approx. Age 1953

MLS® Number OC26221753

Property Address: 3853 Cherokee Ave, San Diego, CA, 92104-3198

Average square foot calculated using Size range provided by listing agent.

Description

WD Land is pleased to present the opportunity to acquire Urban Heights, a 15-unit multifamily property at 3853–3865 Cherokee Avenue in the Cherokee Point neighborhood of central San Diego. The property sits where North Park, Normal Heights and City Heights meet, close to the restaurants, coffee shops and transit of the University Avenue corridor, with Balboa Park, Downtown and Mission Valley a short drive away. The offering spans two adjoining parcels totaling ±13, 806 SF. The first, 3853–3859 Cherokee, holds a 13-unit apartment community: a two-story stucco building with exterior walkways and a single-story front building beneath the property’s reclaimed-wood Urban Heights sign. The second, 3861–3865 Cherokee, is a cottage style craftsman duplex on its own lot behind a redwood privacy fence. Originally built in 1953, the property completed a full interior and exterior remodel in 2020, with new windows, a new roof, new electrical and plumbing upgrades. Units were refinished with plank flooring, shaker cabinetry, granite countertops, stainless appliances and fully tiled baths. At the offering price of $3, 425, 000 ($228, 333 per unit and $506 per SF), Urban Heights trades at a 6.01% cap rate on in-place income and 6.64% at market rents, with a 9.91 GRM falling to 9.27 at market. That is roughly 26% below the $306, 755 per-unit average of eight nearby sales since early 2025, at a cap rate 72 basis points above their 5.29% average. In-place one-bedroom rents average $1, 761 against $2, 044 among nearby one-bedroom comparables, leaving room to grow income as units turn. With a Walk Score of 91 and steady renter demand, Urban Heights suits 1031 exchange buyers, private investors and long-term holders seeking a remodeled, multi building asset in one of San Diego’s most walkable urban submarkets.

MLS® NumberOC26221753

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1953

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatWall Furnace

A/CNone

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Oct 12, 2026List Date

$3,425,000List Price

Commute

Commute

Starting Address

Destination Address

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