4449-55 Illinois St new Save Request In-Person Tour Request Virtual Tour
San Diego,CA 92116
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250031057
Lot Size 7,009 Sqft
Property Description
Fully Renovated 12-Unit Investment Property in Prime North Park/University Heights Location. This stabilized 12-unit asset offers the ideal unit mix of six 2BR/1BA and six 1BR/1BA units, with 6 off-street parking spaces and ample street parking via Boundary Street. The property includes 8 extensively remodeled existing units and 4 fully permitted ADUs—all featuring modern finishes, in-unit laundry, and mini-split A/C & heating. Interiors showcase updated kitchens, baths, flooring, lighting, windows, and appliances. Major system upgrades include sewer lateral replacement with new ABS plumbing, a new water main from meter to street, full re-plumbing of the rear building, and a comprehensive electrical overhaul with new panels and SDGE-compliant wiring. Exterior enhancements include new roofs, new siding and overhang, fresh paint, updated fencing, landscaping, and more. Offering a true 5% cap rate, this property is a rare opportunity to acquire a fully modernized, low-maintenance asset that will hold long-term value due to its exceptional location in one of San Diego's most sought-after neighborhoods.
Location
State CA
County San Diego
Area Normal Heights (92116)
Zoning Rm 3-9
Interior
Cooling Wall/Window
Flooring Vinyl
Laundry Owned
Exterior
Parking Features Spaces
Roof Type Composition
Building
Story 2
Others
Space Rent $381,300