4502 40th St San Diego, CA 92116-3806
Property profile & analytics
4502 40th St San Diego, CA 92116-3806
- Apartment buildings
- 5,040 SF
- 0.11 lot acres
Property ID
US09-7223804
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 4502 40th St
- Year built
- 1972
- Lot size
- 0.11 lot acres
- Property size
- 5,040 SF
- Zone code
- R-3:RESTRICTED MULTIPLE
- Property type
- Apartment buildings
- APN
- 447-062-15-00
- APU
- 4470621500
Description
This exceptional 5,040-square-foot executive office building in San Diego's desirable Normal Heights neighborhood presents a compelling investment opportunity. The property boasts six units, currently 100% occupied, generating consistent rental income. Four units offer two bedrooms and two bathrooms, while two units feature one bedroom and one bathroom. All units have undergone recent renovations, completed as recently as 2024, featuring upgraded kitchens with new countertops, modern tiled walk-in showers, stylish vinyl plank flooring, updated light fixtures, ceiling fans, and new appliances. Large windows throughout create bright and inviting living spaces. Additional income is generated from an on-site laundry room, and the building also includes convenient owner's storage. Seven off-street parking spaces are available for tenants and guests. The building benefits from a newly installed torch-down roof (May 2024) with a 10-year warranty, and significant capital improvements have been made, including upgraded sewer lines and replacement windows. The property sits on a 0.11-acre lot and is ideally located near a pedestrian bridge to Kensington, a short walk to Adams Avenue, and a convenient distance to Downtown Kensington. A $1,000,000 loan with Chase Bank (3.76% interest, maturing February 2029) is assumable. The building's strong occupancy history and current tenant quality ensure a stable and profitable investment. The asking price is $3,100,000. The 30-year loan matures February 1, 2052.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,380,000
- ML approach
- $1,345,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,390,000
- 6.5%
- $1,280,000
- 7%
- $1,190,000
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,755,000 Current use
- OFFICE BUILDING
- $2,125,000 Change: +21% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $2,025,000 Change: +16% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.11
- Latitude
- 32.7591
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$22,267
$625,804
$1,183,339
$1,809,143
-
$0.00
$0.00
$0.00
