4062 49th St 9 Unit Apartment Building $2,350,000 ($261,111/Unit) 6% Cap Rate San Diego, CA 92105

4062 49th Street is a 9-unit complex in City Heights with plenty of parking. The 5,190 square foot building built in 1968 is situated on a 5,739 square foot lot. There are nine 1 Bedroom / 1 Bathroom units. All units have been completely remodeled in 2025. There was a new roof installed as well as stucco repair, exterior repaint, new security doors, and water proofing of the balconies. All unit interiors feature new canned lighting, window coverings and vinyl plank flooring with new baseboards. All units have new appliances and electric wall heaters powered by new sub panels. Plumbing was replaced with copper and ABS as needed. The kitchens and bathrooms feature new cabinets, fixtures, hardware, and quartz countertops. There is an onsite laundry facility that has been expanded and has new machines. The property is located in City Heights, close to the transit and shopping off El Cajon Blvd.
The property is located on a quiet residential street in the Teralta East submarket of City Heights just south of Talmadge. The 'Colina del Sol' neighborhood is named after the large park and recreation area that is a half mile walking distance away. It is located a few hundred feet from the shopping and transit on El Cajon Boulevard and blocks from the new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants. The City Heights Library and new Police Station are nearby. The College Area with the San Diego State University Campus is just 3 miles away as are the popular urban areas of Kensington, North Park, Hillcrest, and Normal Heights.
Socially and economically, Central San Diego has a high concentration of businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, Central San Diego has a high rate of pedestrian activity, relative to the rest of San Diego. Central San Diego is located next to many of the major highways including the Interstates 8 and 15 with close access to the coast, beaches, business districts, downtown, and Mexico.
PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.