4226 49Th StSan Diego, CA 92115
- Residential income properties
- 1,748 SF
Property Details for 4226 49Th St
- Year built
- 1951
- Property size (Sq ft)
- 1,748 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional value-add opportunity presents a four-unit apartment building located at 4226 49th Street, San Diego, CA 92115. The property, built in 1951, comprises 1,748 rentable square feet across two one-story buildings situated on two parcels totaling 6,276 square feet. Currently boasting 50% occupancy, the property offers significant upside potential. The current Net Operating Income (NOI) is $42,000, with a pro-forma NOI projected at $62,000, reflecting a substantial increase in profitability. The asking price is $900,000, translating to $225,000 per unit and a current cap rate of 4.67%, with a pro-forma cap rate of 6.89%. The property features four surface parking spaces and a large shared backyard. Two of the four units are currently vacant, presenting an immediate opportunity to increase occupancy and revenue. This Class C multifamily investment is ideal for an investor seeking to enhance value through renovations and increased occupancy. The property's location in San Diego, California offers strong rental demand and potential for future appreciation.
Location Insight
- City
- San Diego
- County
- San Diego
- State
- California
- Latitude
- 32.7536
- Longitude
- -117.089
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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