Renovated Mixed-use investment property located at 4501-4503 Alabama Street in the highly desirable University Heights neighborhood of San Diego.
3,299 SF building situated on a 4,299 SF lot, featuring 3 retail units and 2 residential units.
Residential units consist of two 1-bedroom, 1-bath apartments that have been extensively renovated.
Recent capital improvements include a new roof (March 2026), replaced gas lines (April 2026), exterior paint, and overall building modernization.
Apartment upgrades include new kitchens, appliances, flooring, paint, vinyl windows, mini-split HVAC systems, and in-line water heaters.
Residential units are projected to achieve rents of approximately $2,500 per month each.
Additional upside exists through the former Holistic Harmony suite, which is being renovated with new windows and doors. Upcoming vacancy of the Dog Groomer space on October 1, 2026 provides a leasing and income growth opportunity.
Established coffee shop tenant signed a new lease on August 1, 2025, providing stable cash flow. Existing coffee shop rent is $2,700 per month with built-in 5% annual rent increases.
Prime walkable location near shops, restaurants, and amenities, with easy access to North Park, Normal Heights, Downtown, I-8, SR-163, and I-805.