4326 50th St San Diego, CA 92115-5095

This exceptional 8-unit apartment building presents a compelling investment opportunity in San Diego's desirable City Heights neighborhood. The property boasts 5,194 square feet of net rentable space situated on a 6,250 square foot lot. Built in 1981, the two-story building features a mix of unit types, including one 2-bedroom/1-bathroom townhome-style unit, two 1-bedroom/1-bathroom loft units, and five 1-bedroom/1-bathroom units. Several units have been recently upgraded, and select units offer balconies. Residents enjoy the convenience of an on-site laundry facility and ample parking with 10 spaces. Recent improvements include new exterior paint and a two-year-old roof, along with recent wood repairs. The property currently enjoys 100% occupancy, generating a strong NOI of $92,759, with a pro-forma NOI of $129,937 and a pro-forma cap rate of 7.22%. Its prime location offers easy access to public transportation, shopping, and dining along El Cajon Boulevard, and is within close proximity to the new Fairmount Village retail center, City Heights Library, and a new Police Station. The property's location also provides convenient access to major freeways (Interstates 8 and 15), beaches, downtown San Diego, and Mexico. The asking price is $1,800,000, representing $225,000 per unit and $346.55 per square foot. The property is located on a quiet residential street, just south of Talmadge, near the Colina del Sol park. Please respect tenant privacy and do not disturb the property.