Mainly 2br Units w/ 6 Garages and ADU Plans | 4085 49th St
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Mainly 2br Units w/ 6 Garages and ADU Plans 4085 49th St
7 Unit Apartment Building $2,100,000 ($300,000/Unit) 5.77% Cap Rate San Diego, CA 92105
Investment Highlights
- Owner Has Plans to Build 4 More ADUs on Property (Inquire w/ Agent) -Proposed Conversion 1822 additional Sq. Ft -Conversion of Existing Garages
- Primarily 2br Units w/ Patios and Balconies
- 6 Garages On-Site
- Renovated Interiors
Executive Summary
High-performing 7-unit property with strong financials. Offering a 5.77% current cap rate and 11.28 GRM, this investment delivers immediate cash flow with room for upside. The property features a desirable unit mix: 3 spacious 2-bedroom/2-bath units, 2 well-appointed 2-bedroom/1-bath units, and 2 charming 1-bedroom units. Interiors have been fully renovated, showcasing new laminate flooring, quartz countertops, updated kitchens, and tiled bathrooms. Additional upgrades include a new roof and energy-efficient windows. The property includes 6 garages, with plans underway to convert them into 4 ADUs (anticipated completion of plans in Q1 2025—contact agent for details). Current rents do not reflect the value of the garages, offering further income potential through leasing or ADU conversion. This is a turnkey asset with both stability and growth potential.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,100,000 | Building Class | C |
| Price Per Unit | $300,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 6,916 SF |
| Cap Rate | 5.77% | Average Occupancy | 95% |
| Gross Rent Multiplier | 11.28 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1981 |
| Property Type | Multifamily | Parking Ratio | 2.17/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,100,000 |
| Price Per Unit | $300,000 |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| Gross Rent Multiplier | 11.28 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,916 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 2.17/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Patio
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,770 | 670 |
| 2+1 | 2 | $2,345 | 800 |
| 2+2 | 3 | $2,395 | 875 |
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Walk Score®
Very Walkable (89)
PROPERTY TAXES
| Parcel Number | 471-512-30 | Improvements Assessment | $1,020,000 |
| Land Assessment | $510,000 | Total Assessment | $1,530,000 |
PROPERTY TAXES
Parcel Number
471-512-30
Land Assessment
$510,000
Improvements Assessment
$1,020,000
Total Assessment
$1,530,000
zoning
| Zoning Code | MR-1500B, San Diego |
| MR-1500B, San Diego |
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Mainly 2br Units w/ 6 Garages and ADU Plans | 4085 49th St
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