Boutique Apartment Building With
4454-60 Illinois Street San Diego, CA 92116
4454-60 Illinois Street, San Diego, CA, 92116
$1,600,000
For Sale
$1,600,000
Five-unit apartment building in a walkable 92116 area, featuring four one-bedroom units and one two-bedroom residence.
Property Size3,640 SF
Price / SF$439.56
Days on Market54
Property Features for 4454-60 Illinois Street
General Information
- Standard status
- Active
- Size
- 3,640 SF
- Property subtype
- Commercial-Res Income / Com-Res Income
Listing agency
Marcus & Millichap
(858) 373-3100
Listed by
Austin Huffman · License #01981817
(858) 373-3100
Source
Compass
Added: May 30 Updated: Jul 21 at 9:11AM Checked: Jul 22 at 7:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
4454-60 Illinois Street is a boutique multifamily offering with five apartment homes. The building includes four one-bedroom, one-bath residences and one two-bedroom, two-bath residence, with the one-bedroom units averaging 585 square feet and the two-bedroom home measuring approximately 1,300 square feet.
Located in the heart of North Park within San Diego’s 92116 zip code, the property has a Walk Score of 84. The walkability supports convenient access to neighborhood dining, retail, parks, and daily needs.
The unit mix provides a straightforward rental profile with four 1BR/1BA homes and a single larger 2BR/2BA layout within the same small community.
Located in the heart of North Park within San Diego’s 92116 zip code, the property has a Walk Score of 84. The walkability supports convenient access to neighborhood dining, retail, parks, and daily needs.
The unit mix provides a straightforward rental profile with four 1BR/1BA homes and a single larger 2BR/2BA layout within the same small community.
Key Highlights
- Boutique 5‑unit multifamily at 4454–60 Illinois St, in San Diego’s 92116 area
- Unit mix: four 1 bed/1 bath units plus one 2 bed/2 bath residence
- Four 1BD/1BA units average 585 SF, plus one 2BD/2BA unit approx. 1,300 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.8k | $31.80 |
| − Vacancy | −$6.4k | −$1.75 |
| EGI | $109.4k | $30.05 |
| − OpEx | −$49.2k | −$13.52 |
| NOI | $60.2k | $16.53 |
3,640 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$859.5K
$752.0K – $1.00M
NOI $60,162 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,639 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit apartment building in a walkable 92116 area, featuring four one-bedroom units and one two-bedroom residence.
Where is this apartment building located?
The property is located at 4454-60 Illinois Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Boutique 5‑unit multifamily at 4454–60 Illinois St, in San Diego’s 92116 area; Unit mix: four 1 bed/1 bath units plus one 2 bed/2 bath residence; Four 1BD/1BA units average 585 SF, plus one 2BD/2BA unit approx. 1,300 SF
