For Sale
$1,500,000

4074 Ingalls StSan Diego, CA 92103

San Diego Multifamily Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
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.

Highlights

  • Mission Hills location, south of Hillcrest.
  • Six units: three one-bedroom/one-bath, three studio/one-bath.
  • Situated on a quiet residential street.
  • Walk Score of 94; Walkers' Paradise.
  • Close proximity to major employment hubs and local beaches.

Property Details for 4074 Ingalls St

Property type
Apartment buildings
Square Feet
2,280 SF
Year Built
1910
Buildings
1
Stories
2
Lot Size (sq. ft)
4,356 SF
Units
6

Location Insight

City
San Diego
County
San Diego
State
California
Latitude
32.75137225835
Longitude
-117.17506954859
4074 Ingalls St, San Diego, California

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4074 Ingalls St
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