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4527 Olney St
San Diego, CA 92109
4 on Olney · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Detached 2BR/1BA single-family home + three 2BR/1BA apartments
- In-unit laundry in every unit
- Two units fully renovated with new kitchens, bathrooms, flooring, appliances and paint
- 6,237 SF full-depth RM-2-5 lot from Felspar St to the alley
- Separately metered gas and electric
- Detached home extensively rebuilt with island kitchen, mini-split A/C and large private gated yard
Executive Summary
4527-49 Olney St is a turnkey 4-unit Pacific Beach property featuring a detached 2BR/1BA single-family home plus three 2BR/1BA apartment units on a full-depth 6,237 SF RM-2-5 lot extending from Felspar St to the alley, just blocks from Mission Bay and the beach. Each unit features in-unit laundry and separate gas and electric meters, while alley access provides valuable off-street parking with two open spaces, two covered carport spaces and additional tandem parking.
Significant capital improvements include new roofs, upgraded electrical, upgraded windows, new horizontal fencing, refreshed landscaping with new turf, and new concrete site work. Two units have been fully renovated with new flooring, kitchens, appliances, bathrooms and paint, while the remaining units are in good condition. The detached home at 4527 was extensively rebuilt and features an island kitchen with farmhouse sink, mini-split climate control, stackable laundry, and a large private gated front, side and rear yard.
Two units will be delivered vacant and lease-ready, providing an incoming owner the opportunity to immediately establish market rents, while the remaining two units are occupied on month-to-month leases. With extensive improvements already completed, flexible occupancy and a desirable mix of apartments and a detached residence, 4527-49 Olney St offers a rare turnkey investment opportunity in the heart of Pacific Beach.
Significant capital improvements include new roofs, upgraded electrical, upgraded windows, new horizontal fencing, refreshed landscaping with new turf, and new concrete site work. Two units have been fully renovated with new flooring, kitchens, appliances, bathrooms and paint, while the remaining units are in good condition. The detached home at 4527 was extensively rebuilt and features an island kitchen with farmhouse sink, mini-split climate control, stackable laundry, and a large private gated front, side and rear yard.
Two units will be delivered vacant and lease-ready, providing an incoming owner the opportunity to immediately establish market rents, while the remaining two units are occupied on month-to-month leases. With extensive improvements already completed, flexible occupancy and a desirable mix of apartments and a detached residence, 4527-49 Olney St offers a rare turnkey investment opportunity in the heart of Pacific Beach.
Property Facts
| Price Per Unit | $712,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.06% | Building Size | 3,028 SF |
| Gross Rent Multiplier | 16.8 | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 2000/2026 |
| Property Subtype | Apartment | Parking Ratio | 2.31/1,000 SF |
| Apartment Style | Single-Family Home | ||
| Zoning | RM-2-5 | ||
| Price Per Unit | $712,250 |
| Sale Type | Investment |
| Cap Rate | 4.06% |
| Gross Rent Multiplier | 16.8 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,028 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 2000/2026 |
| Parking Ratio | 2.31/1,000 SF |
| Zoning | RM-2-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $4,995 | - |
| 2+1 | 3 | $3,695 | - |
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