4140 48Th StSan Diego, CA 92105

This exceptional Class A, 4-unit apartment building in San Diego, CA, presents a compelling investment opportunity. Built and fully renovated in 2022, this property boasts 4,120 square feet on a 6,397 square foot lot. Each of the four units features 2 parking spaces, and the building includes a new security gate. The interior renovations are extensive, encompassing new kitchens and bathrooms with stainless steel appliances, new in-unit washers and dryers, new A/C mini-splits, ceiling fans, and dual-pane windows. Exterior improvements include new electrical and plumbing systems, exterior lighting, paint, resurfaced concrete, and reinforced railings. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $118,347, with a pro-forma NOI of $122,793, representing a 5.65% cap rate and a pro-forma cap rate of 5.86%. The asking price is $2,095,000, or $523,750 per unit, and the price per square foot is $508.50. The property is situated at 4140 48th Street, San Diego, CA 92105, and is a fee simple ownership with no ground lease. Its location within a designated "complete communities" map offers potential for bonus density, adding further value to this turnkey investment. The property's strong financials, modern amenities, and prime location make it an attractive proposition for discerning investors.