The Vero 4119-4123 Kansas St 6 Unit Apartment Building $2,895,000 ($482,500/Unit) 4.27% Cap Rate San Diego, CA 92104

PRICE REDUCED
Marcus & Millichap is pleased to present The Vero located at 4119-23 Kansas Street in San Diego, California. Originally constructed in 1960, the 6-unit apartment complex is located in the highly desirable neighborhood of North Park and boasts a Walk Score of 98. The building rests on a 5,242 square foot lot and has approximately 4,750 in rentable square feet.
The unit mix consists of: (1) three bedroom / two bathroom unit, (4) two bedroom / one bathroom units, and (1) studio unit. Attractive tenant offerings include: secure gated entry, in-unit laundry for (1) unit, on-site laundry, (3) garages, and (4) off-street tandem parking spaces. Having been recently renovated in 2020 with new custom cabinetry, countertops, stainless steel appliances, and more, the property is in prime turn-key condition. There are also approved plans and permits for (3) studio ADUs for an investor looking to further increase overall cash flow; they are construction-ready with the garages having been demolished.
Situated only one block from 30th Street and two blocks from El Cajon Boulevard and University Avenue, the property is within walking distance to all the best North Park has to offer; the property also enjoys proximity to the 805 freeway. The Vero ultimately presents investors the unique opportunity to acquire a turn-key apartment building with significant rental upside in one of San Diego's most desirable neighborhoods.