4170 N 48th St

San Diego, CA 92105

4170 N 48th Street is an 8-unit multifamily property in San Diego's City Heights submarket, 100% occupied with in-place rents below pro forma. One two-story building built in 1962, approx. 5,488 SF on a 6,251 SF lot zoned RM-1-3. Unit mix of six 2BR/1BA units (approx. 734 SF) and two 1BR/1BA units (approx. 540 SF), with 9 on-site parking spaces. Current gross scheduled income of $169,200 and NOI of $122,347 (5.69% cap rate at list price). Pro forma rents of $16,900/month project NOI of approx. $145,401. Frame construction, stucco exterior, flat roof. Central infill location near I-15 and I-805, El Cajon Blvd and University Ave retail, neighborhood schools, and public transit. Value-add opportunity through unit turns, interior upgrades, and rent normalization, with longer-term optionality under RM-1-3 zoning.

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