4226 49Th StSan Diego, CA 92115

Property Details for 4226 49Th St

Year built

1951

Property size (Sq ft)

1,748 SF

Property type

Apartment buildings

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

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