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Multifamily

4669 Iowa St

4669 Iowa St, San Diego, CA 92116

Listing Price: $2,800,000

Cap Rate
3.12%
Number of Units
9
Occupancy
97.0%
Price/Unit
$311,111
Price/Gross SF
$681.43
Gross SF
4,109

Investment Overview

Marcus & Millichap is pleased to present for sale a 9-unit multifamily property located in San Diego's Normal Heights neighborhood. Built in 1986, this property sits on a 6,565 SF lot and boasts 4,109 SF of rentable space. The property at 4669 Iowa St features nine one-bedroom/one-bathroom units, six of which have been recently updated with contemporary finishes such as new flooring, kitchens, and bathrooms. Tenants can enjoy access to a secure gated entry courtyard, on-site parking, and on-site coin-operated laundry. With current rents approximately 30% below market value, an investor could easily increase profits with minimal effort. The property's prime location in Normal Heights, with a walk score of 92, is less than a block away from Adams Ave, which is lined with restaurants, bars, shops, and attractions. Normal Heights is a sought-after neighborhood that attracts high-quality tenants, making this property a smart investment for years to come.

Investment Highlights

  • Walk Score 92
  • Value Add – Under Market Rents
  • 6 of 9 Units Already Upgraded
  • New Paint and Landscaping
  • Off-Street Parking – 9 Spaces
  • Owned Community Washer/Dryer – New Machines

Exclusively Listed By

Financing By

Multifamily

4669 Iowa St

Listing Price: $2,800,000

Cap Rate
3.12%
Number of Units
9
Occupancy
97.0%
Price/Unit
$311,111
Price/Gross SF
$681.43
Gross SF
4,109

Investment Highlights

  • Walk Score 92
  • Value Add – Under Market Rents
  • 6 of 9 Units Already Upgraded
  • New Paint and Landscaping
  • Off-Street Parking – 9 Spaces
  • Owned Community Washer/Dryer – New Machines

Investment Overview

Marcus & Millichap is pleased to present for sale a 9-unit multifamily property located in San Diego's Normal Heights neighborhood. Built in 1986, this property sits on a 6,565 SF lot and boasts 4,109 SF of rentable space. The property at 4669 Iowa St features nine one-bedroom/one-bathroom units, six of which have been recently updated with contemporary finishes such as new flooring, kitchens, and bathrooms. Tenants can enjoy access to a secure gated entry courtyard, on-site parking, and on-site coin-operated laundry. With current rents approximately 30% below market value, an investor could easily increase profits with minimal effort. The property's prime location in Normal Heights, with a walk score of 92, is less than a block away from Adams Ave, which is lined with restaurants, bars, shops, and attractions. Normal Heights is a sought-after neighborhood that attracts high-quality tenants, making this property a smart investment for years to come.

Exclusively Listed By

Financing By

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