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Listed by Reese Nickell, DRE #02195727 • Freedom Realty
$ 2,300,000
Est. payment /mo
Pending
4576 4582 Felton ST San Diego, CA 92116
6,628 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRPTP2607746
Year Built 2024
Lot Size 6,628 Sqft
Source California Regional MLS
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.
Location
State CA
County San Diego
Area 92116 - Normal Heights
Interior
Laundry Other, Stacked Only
Exterior
Garage Spaces 3.0
Pool None
Others
Tax ID 4475212900
Special Listing Condition Not Applicable
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