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$ 2,150,000
Est. payment | /mo
14 Beds
8 Baths
5,488 SqFt
$ 2,150,000
Est. payment | /mo
14 Beds
8 Baths
5,488 SqFt
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 5,488 sqft
Price per Sqft $391
MLS Listing ID 260027099
Bedrooms 14
Full Baths 8
Lot Size 6,251 Sqft
Property Sub-Type Com-Res Income
Property Description
4170 N 48th Street is an 8-unit multifamily property in San Diego's City Heights submarket, 100% occupied with in-place rents below pro forma. One two-story building built in 1962, approx. 5,488 SF on a 6,251 SF lot zoned RM-1-3. Unit mix of six 2BR/1BA units (approx. 734 SF) and two 1BR/1BA units (approx. 540 SF), with 9 on-site parking spaces. Current gross scheduled income of $169,200 and NOI of $122,347 (5.69% cap rate at list price). Pro forma rents of $16,900/month project NOI of approx. $145,401. Frame construction, stucco exterior, flat roof. Central infill location near I-15 and I-805, El Cajon Blvd and University Ave retail, neighborhood schools, and public transit. Value-add opportunity through unit turns, interior upgrades, and rent normalization, with longer-term optionality under RM-1-3 zoning.
Location
State CA
County San Diego
Area Metro Uptown
Zoning RM-1-3
Interior
Fireplace No
Exterior
Parking Features Spaces
View Y/N No
Total Parking Spaces 9
Building
Dwelling Type Apartment
Story 2
Others
Senior Community No
Tax ID 471-411-27-00
Listed by Ron Chaquica, DRE#01246523 The Agency
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