4454-4460 Illinois St - Apartments FOR SALE


San Diego, CA 92116- North Park
$1,600,000 USD
858-761-2529
4454-4460 Illinois St, San Diego, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/28
null | 3.75% Cap Rate

4454-4460 Illinois St
San Diego, CA 92116
North Park


HIGHLIGHTS

  • ?Prime North Park location within the highly walkable 92116 zip code, offering strong and steady rental demand
  • Boutique five-unit multifamily asset featuring four 1BD/1BA units (avg. 585 SF) and one large 2BD/2BA unit (approx. 1,300 SF)
  • ?Abundant off-street parking for tenants with two (2) double-car garages
  • Highly walkable neighborhood providing residents convenient access to dining, retail, parks, and everyday amenities
  • ?Value-add opportunity with potential garage-to-ADU conversions, creating future upside through additional units and increased cash flow

OVERVIEW

We are pleased to present 4454–60 Illinois Street, a boutique multifamily offering ideally positioned in the heart of North Park, one of San Diego’s most vibrant and supply-constrained urban rental markets.? Located within the highly walkable 92116 zip code, the property boasts a Walk Score of 84, providing residents with immediate access to neighborhood dining, retail, parks and daily conveniences - a lifestyle feature that continues to drive strong tenant demand.? The property is comprised of five well-designed apartment homes, featuring four one-bedroom/one-bathroom residences averaging 585 square feet and one expansive two-bedroom/two-bathroom residence measuring approximately 1,300 square feet.? These efficient and functional floorplans cater to a wide range of renters seeking comfort, usability, and proximity to San Diego’s most desirable central neighborhoods. Situated within a high-demand rental corridor known for its walkability, charm, and limited multifamily inventory, 4454–60 Illinois Street benefits from consistent occupancy and long-term renter appeal.? With its central location, neighborhood amenities, and strong connectivity to the greater San Diego region, the property represents a compelling opportunity for stable, durable rental performance.?

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$440 USD /SF

# OF UNITS

5

PRICE/UNIT

$320,000

CAP RATE

3.75%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1942

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,185 SF

ZONING

R4

APN/PARCEL ID

446-121-21

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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