4119-23 Kansas StSan Diego, CA 92104

Property Details for 4119-23 Kansas St

Year built

1960

Property type

Apartment buildings

Description

This exceptional six-unit apartment building, located at 4119-23 Kansas Street in San Diego's desirable North Park neighborhood, presents a compelling investment opportunity. Built in 1960 and extensively renovated in 2020, the property boasts a mix of unit types: one three-bedroom/two-bathroom unit, four two-bedroom/one-bathroom units, and one studio unit. The 4,750 square foot building sits on a 5,242 square foot lot and features attractive amenities including secure gated entry, on-site laundry, three garages, and four off-street tandem parking spaces. In-unit laundry is available in one unit. The property's current NOI is $128,566, with a pro-forma NOI of $202,695, reflecting a potential cap rate of 6.77%. Approved plans and permits are in place for the construction of three additional studio Accessory Dwelling Units (ADUs), further enhancing the property's income potential. The building's location, just one block from 30th Street and two blocks from El Cajon Boulevard and University Avenue, provides convenient access to the vibrant North Park community and the 805 freeway. This turn-key asset offers significant rental upside in a highly sought-after area. The asking price is $2,995,000, with a price per unit of $499,167 and a price per square foot of $630.53. The property is zoned RM-3-7.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7527

Longitude

-117.131

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