4010-4016 Illinois St - Apartments FOR SALE


San Diego, CA 92104- North Park
$2,000,000 USD
858-360-3000
4010-4016 Illinois St, San Diego, CA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

4010-4016 Illinois St
San Diego, CA 92104
North Park


HIGHLIGHTS

  • Prime North Park location with a Walk Score of 97.
  • Six-unit property with detached three-bedroom front house.
  • Four units currently vacant, offering immediate upside potential.
  • Recent upgrades include dual-pane windows and new electrical panels.
  • On-site parking includes garages, carports, and tandem spaces.
  • Strong rental demand near Balboa Park and major employment hubs.

OVERVIEW

4010-4016 Illinois Street presents a rare opportunity to acquire a six-unit multifamily property in the highly desirable North Park neighborhood of San Diego, CA. The property consists of four one-bedroom/one-bath units, one larger one-bedroom/one-bath unit with a private balcony, and a detached three-bedroom/one-bath home at the front of the lot, offering excellent flexibility for investors or owner-users. Situated on a 7,005 SF lot, the property includes two single-car garages, two carport spaces, and two tandem spaces. Recent capital improvements include new dual-pane windows, upgraded ABS sewer lines, and new electrical sub-panels. With four units currently vacant, investors can immediately capture strong in-place income or implement a renovation program to achieve a projected 6.72% pro forma cap rate. Located just blocks from the vibrant North Park commercial corridor, residents enjoy walkable access to dining, retail, and entertainment, with convenient proximity to Downtown San Diego and major employment centers.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$470 USD /SF

# OF UNITS

6

PRICE/UNIT

$333,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,023 SF

ZONING

R1, San Diego

APN/PARCEL ID

446-381-18

ASK ABOUT THIS PROPERTY

James BurnsCommercial Asset AdvisorsMore Info
858-360-3000

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James BurnsCommercial Asset AdvisorsMore Info
858-360-3000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.