4585 Felton St - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$2,375,000 USD
858-876-5701
4585 Felton St, San Diego, CA for Sale
$2,375,000 USD
Apartments - FOR SALE
1/26
null | 5.33% Cap Rate

4585 Felton St
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • (5) 2BR/2BA Units (71%) + (2) 1BR/1BA Units
  • Well maintained building
  • 8 Parking Spaces (1.14 Parking Ratio)
  • On-Site Laundry
  • Compliant SB721 Elevated Elements Inspection Report as of 2024
  • Quiet residential neighborhood with a Walk Score of 93 to all the shops and restaurants on Adams Ave

OVERVIEW

Palm Villas features a rare, high-demand unit mix consisting of (5) 2BR/2BA units and (2) 1BR/1BA units. This 71% ratio of two-bedroom floor plans provides significant rent upside and attracts stable, long-term tenants who prioritize the flexibility of a second bedroom for home offices or roommates. Boasting a Walk Score of 93, the property is perfectly positioned in Normal Heights, just one block from the vibrant dining and nightlife of Adams Avenue. This asset includes (8) dedicated parking spaces and on-site laundry, essential amenities that drive high tenant retention. Thoughtfully maintained and ready to command top-tier rents without significant capital expenditure, the property offers an immediate, reliable income stream while current rents sit just below market so investors can realize clear organic growth through annual allowable increases. This is a durable, premium acquisition designed for long-term portfolio growth in one of San Diego’s most resilient submarkets.

FOR SALE DETAILS

PRICE

$2,375,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

7

PRICE/UNIT

$339,286

CAP RATE

5.33%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palm Villa II

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

MR15B, San Diego

APN/PARCEL ID

447-522-04

ASK ABOUT THIS PROPERTY

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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