Investment Overview

Marcus & Millichap is pleased to present 4546 Illinois Street located in San Diego, California. Originally built in 1965, the 11-unit apartment complex sits in the highly desirable neighborhood of North Park and boasts a Walk Score of 89. The property rests on an 8,442 square foot lot and has approximately 7,000 rentable square feet. The unit mix consists of (1) two bedroom / two bathroom unit and (10) one bedroom / one bathroom units. Having been extensively renovated in 2015 and well-maintained since, units feature ceiling fans, dual pane windows, kitchen backsplashes, stainless steel appliances, vinyl plank flooring, tiled bathroom floors and showers, and more; a new roof was also installed last year. Attractive tenant offerings include gated access, courtyard with barbecue grill area, on-site laundry, and (10) off-street parking spaces. With upgrades, an investor can maximize overall cash flow by bringing current rents to market and pursuing further upgrades. Located only two blocks to both 30th Street and El Cajon Boulevard, as well as a few blocks to Adams Avenue, the property is within walking distance to all the best of North Park. Access to the 805 freeway is also nearby, allowing an easy commute to anywhere in San Diego. 4546 Illinois Street ultimately presents investors the rare opportunity to acquire a well-maintained asset with remaining rental upside in one of San Diego’s most desirable rental markets.