4114 39Th StSan Diego, CA 92105

Exceptional investment opportunity: a fully renovated, 5-unit apartment complex in San Diego's desirable Cherokee Point neighborhood (92105). This stabilized property boasts a 100% occupancy rate with 12-month leases, generating a substantial annual net operating income (NOI) of $127,980. The property comprises three charming 2-bedroom, 1-bathroom detached cottages and a 2-story duplex with two 1-bedroom, 1-bathroom units. Each unit features modern upgrades including new kitchens, appliances, flooring, and AC/heat systems. The complex includes four single-car garages, potentially convertible into additional units (a feasibility study is available). Outdoor amenities include landscaped grounds, a dog run, and a secure gated entry. Located less than a block from a park and school, this property offers significant upside potential. The 7,000 sq ft lot is zoned RM 2-5, allowing for the potential addition of up to 16 more units (per feasibility study). The property features a total of 3,200 square feet, with a current asking price of $2,199,000 ($687.19/sq ft and $439,800/unit). Built in 1941 and fully renovated in 2024, this property presents a rare blend of historic charm and modern convenience. The property's strong cash flow, combined with its development potential, makes it an ideal investment for discerning buyers. All units are currently leased, ensuring immediate return on investment.