1624 Una St San Diego, CA 92113

Property Details for 1624 Una St

Year built

1960

Property size

2,800 SF

Property type

Commercial real estate

APN

550-600-16-00

Description

This exceptional four-unit apartment building, located at 1624 Una St in San Diego, CA 92113, presents a compelling investment opportunity. Built in 1960 and extensively renovated in 2018, the property boasts 2,800 square feet on a 3,047 square foot lot (APN: 550-600-16-00). All four units are two-bedroom, one-bathroom apartments, offering a desirable and consistent unit mix. The 2018 renovation encompassed new kitchens, bathrooms, flooring, and windows, along with upgraded electrical and plumbing systems. Modern finishes include stainless steel appliances, quartz countertops, and shaker cabinets. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $78,264, representing a 6.04% cap rate. Pro-forma NOI is projected at $83,364, yielding a 6.44% cap rate. The asking price is $1,295,000, or $323,750 per unit. This stabilized investment is ideally situated in Southcrest, minutes from Downtown San Diego and major employment centers, making it an attractive option for both new and experienced investors seeking a low-maintenance, high-cash-flow property. The property's strong unit mix and recent renovations ensure long-term rental demand and minimize future capital expenditures. This is a turnkey investment ready for immediate cash flow.