4022 42nd St 11 Unit Apartment Building $3,100,000 ($281,818/Unit) 5.99% Cap Rate San Diego, CA 92105

Located in San Diego’s Teralta West neighborhood, 4022 42nd Street is a thoughtfully upgraded, 11-unit apartment community offering investors immediate cash flow, limited near-term capital requirements, and long-term appreciation potential. The property features a desirable unit mix of six one-bedroom/one-bathroom residences and five two-bedroom/one-bathroom residences, including two newly constructed ADUs that provide modern finishes, efficient layouts, and additional income diversification.
Totaling approximately 7,354 square feet on a 7,021-square-foot lot, the secure, gated community has been professionally maintained and extensively improved. Renovated residences feature updated kitchens and bathrooms, white shaker-style cabinetry, stone countertops, stainless steel appliances, wood-style flooring, contemporary fixtures, and functional floor plans designed to appeal to a broad renter base. The newly constructed ADUs complement the existing improvements with abundant natural light and durable, low-maintenance finishes.
Community amenities include off-street parking, on-site laundry facilities, controlled access, and a private residential setting. The combination of recent renovations, new construction, and efficient operations helps minimize near-term ownership responsibilities while supporting tenant retention and durable occupancy.
Positioned near North Park, City Heights, Balboa Park, Downtown San Diego, San Diego State University, public transportation, and Interstate 15, the property provides convenient access to major employment centers, universities, dining, shopping, and recreation. With its diversified unit mix, turnkey condition, central infill location, and exposure to continued demand for attainable rental housing, 4022 42nd Street presents a compelling opportunity to acquire a stabilized multifamily asset with dependable current income and long-term growth potential.