4480 51st St 7 Unit Apartment Building $1,895,000 ($270,714/Unit) 5.09% Cap Rate San Diego, CA 92115

4480-86 51st Street is a 7-unit apartment building built around 1950 and located in the highly desirable Talmadge neighborhood. The complex has five 1 Bedroom / 1 Bathroom units and one 1 Bedroom / 1 Bathroom standalone house as well as a newly constructed 1 Bedroom / 1 Bathroom ADU unit. The structures total approximately 3,500 square feet and are situated on a 6,250 square foot lot. Four of units have new kitchens, bathrooms, flooring, fixtures and appliances. Three units have mini-split units. All three staircases are brand new. The laundry room has digital pay equipment. The turf and the fence are new. Including the driveway, there are 4 off-street parking spaces.
DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
The property is located North of El Cajon Blvd in the desirable Talmadge Neighborhood of San Diego with walkability to eateries, bars, shops, services, and public transportation access. The property is located close proximity to SDSU, easy freeway access, 15 minute drive to the beach.
Talmadge is a neighborhood of the mid-city region of San Diego, California. Its borders are defined by Fairmount Avenue to the West, Montezuma Road/Collwood Boulevard to the Northeast, and El Cajon Boulevard to the South.
The architecture in Talmadge is eclectic, with styles including Spanish Revival, California bungalows, Cape Cod cottages and Normandy Style homes. Cliff May, a renowned Southern California architect, designed several homes in Talmadge. Kensington and Talmadge are sometimes grouped together as one community for official purposes.