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Coldwell Banker Realty
4576 4582 Felton Street, San Diego, CA 92116
- $2,300,000
- List Price
- $2,300,000
- Status
- ACTIVE
- MLS#
- PTP2607746
- Year Built
- 2024
- Lot Size
- 6,628
- Acres
- 0.15
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 5
- Property Type
- Multifamily
Property Description
Rare 7-unit Normal Heights offering with the heavy lifting done. Two detached buildings on one lot: a 1926 Spanish-style 2BD/2BA single-family home, fully renovated in 2022, with its own detached garage and private fenced yard, plus a brand-new two-story building of six units completed in 2026 (two 2BD/2BA and four 1BD/1BA). The new units feature private entries, ductless mini-split A/C, tankless water heaters, quartz counters, electric ranges, fire sprinklers and individual water sub-meters. Six of seven units are leased at 2026 market rents, and one unit is ready to lease. Currently operating at a 5.64% cap rate, with the potential to reach 6.60% once stabilized. New construction means little deferred maintenance, and the new units may be exempt from AB 1482 rent caps (buyer to verify). Walk to the cafes, restaurants and shops of Adams Ave, minutes to North Park, I-805 and I-8.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $190,813
- Operating Expense
- 61141
Listing courtesy of Listing Agent: Reese Nickell (reeseknickell@gmail.com) from Listing Office: Freedom Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.