705-711 W Pennsylvania Ave 4 Unit Apartment Building $2,297,000 ($574,250/Unit) San Diego, CA 92103

This Mission Hills fourplex offers a rare investment opportunity in one of San Diego’s most desirable neighborhoods. Located at 705–711 West Pennsylvania Street, the property consists of four spacious two-bedroom, one-bath units averaging 873 square feet each. The building retains its Mid-Century charm while benefiting from significant recent upgrades, including updated electrical panels, mini-split air conditioning units, dual-pane windows, and a full exterior repaint. Classic kitchens feature original two-tone tile counters, complemented by hardwood floors and individual water heaters.
The property is situated on a quiet residential street within an enclave of single-family homes, just south of the Mission Hills retail district and minutes from Downtown San Diego, Balboa Park, and major freeways (I-5, I-8, and Highway 163). This prime location ensures strong tenant demand and long-term value appreciation.
With a current gross scheduled income of $118,596 and a projected market rent of $144,600, the property offers approximately 22% rental upside, including the potential to lease the two-car garage currently used for storage. Additional value-add opportunities include updating kitchens and baths or installing in-unit laundry to further enhance market positioning. This is an exceptional chance to acquire a stabilized asset with upside in a high-barrier-to-entry submarket.