69
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$5,100,000
Est. payment /mo
7,008 Sqft Lot
Active
4449 Illinois St San Diego, CA 92116
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UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250031057SD
HOA Y/N No
Lot Size 7,008 Sqft
Property Sub-Type Mixed Use
Property Description
Fully Renovated 12-Unit Investment Property in Prime North Park/University Heights Location. This stabilized 12-unit asset offers the ideal unit mix of six 2BR/1BA and six 1BR/1BA units, with 6 off-street parking spaces and ample street parking via Boundary Street. The property includes 8 extensively remodeled existing units and 4 fully permitted ADUs—all featuring modern finishes, in-unit laundry, and mini-split A/C & heating. Interiors showcase updated kitchens, baths, flooring, lighting, windows, and appliances. Major system upgrades include sewer lateral replacement with new ABS plumbing, a new water main from meter to street, full re-plumbing of the rear building, and a comprehensive electrical overhaul with new panels and SDGE-compliant wiring. Exterior enhancements include new roofs, new siding and overhang, fresh paint, updated fencing, landscaping, and more. Offering a true 5% cap rate, this property is a rare opportunity to acquire a fully modernized, low-maintenance asset that will hold long-term value due to its exceptional location in one of San Diego's most sought-after neighborhoods.
Location
State CA
County San Diego
Area 92116 - Normal Heights
Zoning Rm 3-9
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 6
Others
Tax ID 4461220200
Listed by Joey Belcastro Keller Williams Realty
MORTGAGE CALCULATOR
Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.