Investment Overview

Marcus & Millichap is pleased to present 4657 Felton Street, a 9-unit, 5,942-square-foot multifamily community located in the trendy neighborhood of Normal Heights, just steps from Adams Avenue entertainment, in San Diego. Originally constructed in 1969, the property was repositioned in 2018 with an extensive renovation plan to cater to today’s top renters. The offering is priced at $3,150,000 at a 5.42% cap rate. The building consists of nine units across an efficient mix of two 2-bedroom / 1-bathroom units (approximately 825 SF) and seven 1-bedroom / 1-bathroom units (averaging 615 SF). 504This straightforward, highly usable layout caters to a broad urban tenant base and remains consistently attractive to renters in the submarket. Positioned within an up trending established central San Diego infill neighborhood called Normal Heights, the asset benefits from strong, in-place renter demand and convenient proximity to retail, dining, and everyday amenities. Its central location provides seamless access to major employment centers and transit corridors, insulating the asset and supporting high occupancy and durable rental demand. The property offers meaningful mark-to-market upside as a turnkey investment but also has value-add opportunities by providing additional amenities in unit and common areas.