4062 49Th St San Diego, CA 92105

This 9-unit apartment building in San Diego's City Heights neighborhood presents a compelling value-add opportunity. The property, located at 4062 49th Street, boasts 5,190 square feet of rentable space within a single, two-story structure built in 1968 on a 5,739 square foot lot. All nine units are currently 100% occupied, generating a current Net Operating Income (NOI) of $94,657, representing a 5.50% capitalization rate. However, a pro-forma analysis projects a significant increase in NOI to $141,728, resulting in an 8.24% cap rate, indicating substantial upside potential. The property features nine surface parking spaces, one for each unit. With a current asking price of $1,720,000, this translates to $191,111 per unit. The property's Class C designation and its potential for increased profitability make it an attractive investment for those seeking to enhance returns through strategic improvements and management. The property is situated in San Diego County, California, zip code 92105. This is a rare opportunity to acquire a well-located multifamily asset with significant value-add potential in a growing market.