4629 Bancroft St - Apartments FOR SALE


San Diego, CA 92116- Normal Heights
$2,895,000 USD
619-300-9070
4629 Bancroft St, San Diego, CA for Sale
$2,895,000 USD
Apartments - FOR SALE
1/16
null | 4.5% Cap Rate

4629 Bancroft St
San Diego, CA 92116
Normal Heights


HIGHLIGHTS

  • Prime Normal Heights Location
  • Garages for Possible ADU Conversion
  • 1/2 Block South of Adams Avenue
  • Pride of Ownership Property
  • Garage Parking for 4 + 6 Spaces
  • Rental Upside

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, 5 open parking spaces, secured gated access, owned cashless laundry room (also renovated), new main electric panel, new50-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. 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

$2,895,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

8

PRICE/UNIT

$361,875

CAP RATE

4.5%

% 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

6,209 SF

ZONING

RM-1-2

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.