4074 Ingalls St San Diego, CA 92103

This exceptional six-unit apartment building, located in San Diego's desirable Mission Hills neighborhood, presents a compelling value-add investment opportunity. The property boasts 2,280 square feet of net rentable space, distributed across three studio and three one-bedroom units, each with a bathroom. Built in 1910 on a 0.1-acre lot, the two-story building offers a strong foundation for future growth. The current Net Operating Income (NOI) is $99,673, yielding a 6.64% cap rate. The property is zoned RS-1-7, allowing for potential expansion, including the possibility of adding an Accessory Dwelling Unit (ADU), increasing the property's value and rental income. Situated on a quiet residential street, this property benefits from a Walk Score of 94, placing it in a "Walkers Paradise" category, with easy access to Pioneer Park, Old Town San Diego, Hillcrest, and major employment centers. The asking price is $1,500,000, or $250,000 per unit, with a price per square foot of $657.89. The property includes four small storage areas and a shared coin-operated laundry facility. The anticipated occupancy date is October 16, 2024. This property offers a blend of immediate income and significant long-term potential in a high-demand rental market. The property's location, combined with its potential for expansion, makes it an attractive investment for discerning buyers. The APN is 443-682-12-00.