69
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$5,100,000
Est. payment /mo
7,009 Sqft Lot
New
4449-55 Illinois St San Diego, CA 92116
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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
Total Parking Spaces 6
Building
Story 2
Others
Space Rent $381,300
Listed by Joey Belcastro • Keller Williams Realty