4629 Bancroft St - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$2,950,000 USD
619-300-9070
4629 Bancroft St, San Diego, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/18
null | 4.26% Cap Rate

4629 Bancroft St
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • 6 of 8 units fully renovated
  • Two 2-Car Garages + 6 open spaces
  • 12%-15% Rental Upside - Pride of Ownership Property
  • Gated Entrance + On-site Laundry Room with Owned Equipment
  • New 50-year Roof + New Exterior Paint + New Dual Pane Windows
  • Balcony Inspection Completed - Passed

OVERVIEW

8 Pride of Ownership Normal Heights units just 1/2 block south of Adams Avenue. 6 of the 8 units have been fully renovated featuring: granite countertops, new kitchen and bath cabinets, new tile showers, stainless steel refrigerators-dishwashers-microwaves-stoves, wood laminate floors, dual pane windows, etc. The property features: two 2-car garages, 6 open parking spaces, secured gated access, owned cashless laundry room (also renovated), new main electric panel, new 50-year roof (2016), new exterior paint (2023), zero scape landscaping, and completed balcony inspection (2025). Building was re-piped in 2015 and tented for termites in 2021. The 2 non-renovated units are in great condition and also have wood laminate flooring. Rental upside as the current rents are 12%-15% below market. Increase cash flow by converting the 2 double garages to ADU units or by charging tenants for the garages. Property Overview Located just a half block south of Adams Avenue, this well-maintained eight-unit property exemplifies pride of ownership and presents an outstanding investment opportunity in the desirable Normal Heights neighborhood. Unit Renovations and Features Six of the eight units have undergone extensive renovations, boasting modern upgrades throughout. Renovated units feature granite countertops, new kitchen and bathroom cabinetry, stylish new tile showers, and stainless-steel appliances—including refrigerators, dishwashers, microwaves, and stoves. Additional enhancements include attractive wood laminate flooring and dual pane windows, ensuring comfort and energy efficiency. The two remaining non-renovated units are also in excellent condition and have been updated with wood laminate floors, maintaining a consistent aesthetic throughout the property. Property Amenities and Recent Upgrades • Two 2-car garages and six open parking spaces provide ample parking for residents. • Secured, gated access enhances safety and privacy for tenants. • An owned, cashless laundry room—recently renovated—offers added convenience. • The property has a new main electric panel completed in 2025 and a durable 50-year roof installed in 2016. • Exterior painting was completed in 2023, contributing to the property’s curb appeal. • Low-maintenance zero scape landscaping reduces upkeep costs. • A balcony inspection was completed in 2025 ensuring safety and compliance. • The building was re-piped in 2015 and tented for termites in 2021, reflecting proactive maintenance. Investment Upside There is significant potential for increased cash flow, as current rents are 12% to 15% below market rates. Investors have the option to further maximize returns by either converting the two double garages into Accessory Dwelling Units (ADUs) or charging tenants for garage usage.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$411 USD /SF

# OF UNITS

8

PRICE/UNIT

$368,750

CAP RATE

4.26%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,251 SF

ZONING

R3

APN/PARCEL ID

439-432-24

ASK ABOUT THIS PROPERTY

Mark MorganSouth Coast Commercial, Inc.More Info
619-300-9070

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Mark MorganSouth Coast Commercial, Inc.More Info
619-300-9070

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