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4851-4855 Narragansett Ave 4 Unit Apartment Building $3,599,000 ($899,750/Unit) 3.84% Cap Rate San Diego, CA 92107
INVESTMENT HIGHLIGHTS
- 4 Units Only 2.5 Blocks to the Beach!
- Separately Metered Electrical
- Washer/Dryer Hookups in Each Unit
- Separately Metered Water
- Four - 2 Car Garages
- Airbnb $265,000 - $375,000 yr
EXECUTIVE SUMMARY
Updated 4-unit in Ocean Beach, only 2.5 blocks from the sand! Each unit has its own 2 car garage, separate electrical & water meters and laundry hook-ups. This versatile compound includes a 3BR/2BA front home, a detached updated large Studio, & two mirror-image 2BR/2BA townhomes. 8 bedrooms total and a stellar outdoor area with garden setting. Each unit has a 2- car garage, and separate electrical & water meters, and in-unit laundry hookups, making this an exceptional income property or multi-generational living opportunity.
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Unit 1: 3BR/2BA Single-Family Home (Approx. 1,100 sq ft): Features centralAC , beautiful hardwood flooring, ample cabinetry, quartz countertops, newer appliances, updated lighting, and fresh paint. The large driveway provides 4 extra parking spaces. ||
Units 2 & 3 :Two Updated 2BR/2BA Townhomes: Each townhome features high vaulted ceilings, modern kitchens and baths, luxury vinyl plank flooring, large private patios/decks, indoor laundry hookups, and additional storage. Believed to have been built to condo specifications, offering potential for separate resale. ||
Unit 4 : Detached Updated Studio: Perfect as a guest unit, rental, or in-law suite. ||
Additional highlights include 2 EV chargers, easy walking access to beach, shopping, and dining. A built-in laundry room for cleaning crews or shared machines. Additional Storage shed for beach chairs and umbrellas. Currently operated as a high-performing Airbnb attracting wedding groups, corporate stays, and family vacationers.
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Unit 1: 3BR/2BA Single-Family Home (Approx. 1,100 sq ft): Features centralAC , beautiful hardwood flooring, ample cabinetry, quartz countertops, newer appliances, updated lighting, and fresh paint. The large driveway provides 4 extra parking spaces. ||
Units 2 & 3 :Two Updated 2BR/2BA Townhomes: Each townhome features high vaulted ceilings, modern kitchens and baths, luxury vinyl plank flooring, large private patios/decks, indoor laundry hookups, and additional storage. Believed to have been built to condo specifications, offering potential for separate resale. ||
Unit 4 : Detached Updated Studio: Perfect as a guest unit, rental, or in-law suite. ||
Additional highlights include 2 EV chargers, easy walking access to beach, shopping, and dining. A built-in laundry room for cleaning crews or shared machines. Additional Storage shed for beach chairs and umbrellas. Currently operated as a high-performing Airbnb attracting wedding groups, corporate stays, and family vacationers.
PROPERTY FACTS
| Price | $3,599,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $899,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 3.84% | Building Size | 3,280 SF |
| Gross Rent Multiplier | 16 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1970/2021 |
| Property Type | Multifamily | Parking Ratio | 3.66/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-4 - Multi-Family | ||
| Price | $3,599,000 |
| Price Per Unit | $899,750 |
| Sale Type | Investment |
| Cap Rate | 3.84% |
| Gross Rent Multiplier | 16 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,280 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2021 |
| Parking Ratio | 3.66/1,000 SF |
| Zoning | R-4 - Multi-Family |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Vaulted Ceiling
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Deck
- Double Pane Windows
- Mother-in-law Unit
- Patio
- Porch
- Smoke Free
- Window Coverings
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $2,800 | 400 |
| 2+2 | 2 | $4,300 | 890 |
| 3+2 | 1 | $6,300 | 1,100 |
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 448-272-21 | Improvements Assessment | $509,379 |
| Land Assessment | $1,910,174 | Total Assessment | $2,419,553 |
PROPERTY TAXES
Parcel Number
448-272-21
Land Assessment
$1,910,174
Improvements Assessment
$509,379
Total Assessment
$2,419,553
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4851-4855 Narragansett Ave
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