4225 Central Ave 4 Unit Apartment Building $1,395,000 ($348,750/Unit) 4.85% Cap Rate San Diego, CA 92105

Situated on an approximately 6,248-square-foot lot, 4225–4231 Central Avenue is a stabilized, cottage-style multifamily property in central San Diego. The property generates $9,294 in current monthly gross income and offers five off-street parking spaces. Most units have been substantially renovated with updated kitchens, flooring, appliances, exterior paint, fencing and landscaping. Additional upside exists through the future renovation of the remaining original-condition cottage and potential rent growth. Conveniently located near Kensington, Teralta Park, neighborhood restaurants, Downtown San Diego, I-805 and SR-15.
The property consists of four permitted dwelling units currently configured and operated as five rental units. The permitted 3-bedroom/2-bath main house has been divided without permits into a 2-bedroom/1-bath unit and a 1-bedroom/1-bath unit. The balance of the property includes two detached 1-bedroom/1-bath cottages and one detached studio cottage. The property is offered for sale in its present “as-is” condition. Buyer to independently verify permits, unit configuration, square footage, zoning, income, expenses, condition and development potential.