2438-2446 India St 7 Unit Apartment Building $2,325,000 ($332,143/Unit) 4.39% Cap Rate San Diego, CA 92101

We are pleased to present 2438–42 India Street, a well-maintained 7-unit multifamily property located in the heart of San Diego’s highly coveted Little Italy neighborhood.
Built in 1950, the property offers investors an exceptional opportunity to acquire a rare multifamily asset in one of San Diego’s most desirable and supply-constrained ubmarkets— an area defined by its walkability, cultural energy, and strong rental fundamentals. The property features a diverse unit mix consisting of two (2) two-bedroom/one-bath units (˜800 SF each), four (4) one-bedroom/one-bath units (˜500 SF each), and one (1) studio/one-bath unit (˜400 SF). This balanced mix attracts
a wide tenant base, from professionals seeking proximity to downtown to long-term residents who value the convenience and lifestyle of Little Italy. Recent improvements enhance both stability and long-term value. Two rear units (2438 and 2442) underwent restoration and rebuild work in 2024, including new kitchens and updated interiors. The
rear building received a new roof, while the front roof remains in good condition with no reported leaks. Additional upgrades include brand-new individual hot water tanks, quadruple-pane windows with solid-core doors installed under the city’s Quieter Home Program, mini-split HVAC systems in all units, and a new sump grinder pump installed within the past year with recent electronic component replacement. The rear staircase was also structurally reinforced with new bracing and support elements, ensuring longterm safety and compliance. The property includes leased washer/dryer units, garbage disposals, and a large 7-foot-tall storage room, providing additional tenant convenience and potential income. With rents well below market, the property offers a clear valueadd opportunity through interior upgrades, repositioning, and enhanced management. Given Little Italy’s exceptional demand and near-zero vacancy rates, investors can capture substantial upside while benefiting from the asset’s strong existing infrastructure and location fundamentals. Boasting a Walk Score of 98 (“Walker’s Paradise”), residents enjoy walking access to Little Italy’s premier restaurants, boutique
shops, weekly farmers market, and the San Diego Bay waterfront. This property embodies the best of coastal urban living—an irreplaceable opportunity to own in one of San Diego’s most vibrant and enduring rental markets.