4160 Texas St San Diego, CA 92104-1678

Property Details for 4160 Texas St

Year built

1986

Lot size

0.16 lot acres

Property size

5,911 SF

Zone code

R-3:RESTRICTED MULTIPLE

Property type

Apartment buildings

APN

445-522-27-00

APU

4455222700

Description

This exceptional seven-unit apartment building, located in San Diego's desirable North Park neighborhood (92104), presents a compelling investment opportunity. Built in 1987 and extensively renovated in 2024 with a $1 million investment, this Class A property boasts a modern aesthetic comparable to new construction. The 5,925 square foot building sits on a 6,985 square foot lot and features a desirable unit mix: five spacious two-bedroom units and two large one-bedroom units. Each unit is thoughtfully designed with open-concept floor plans, maximizing space and comfort. High-end finishes are complemented by in-unit full-size washer/dryers and private patios or balconies in select units. Residents enjoy ample parking with six attached single-car garages and nine additional surface parking spaces. Enhanced security features include secured gated access and a 24/7 camera system, along with secured bike parking. The property's strong financial performance is reflected in its current NOI of $193,042 and a pro-forma NOI of $226,130, yielding a 4.29% cap rate and a pro-forma cap rate of 5.03%. The asking price is $4,500,000, with a price per unit of $642,857.14 and a price per square foot of $759.49. The property's prime location offers a Walkscore of 94, providing easy access to numerous attractions. This is a turnkey investment opportunity with significant upside potential. The building's six garages offer potential for future Accessory Dwelling Unit (ADU) conversion. All units feature ducted air conditioning.