4118-4120 Iowa St

Marcus & Millichap is pleased to present 4118-24 Iowa Street located in San Diego, California. Originally built in 1945, the 6-unit apartment cottage complex is located in the highly desirable neighborhood of North Park and boasts a Walk Score of 97. The building has approximately 3,140 rentable square feet and rests on a 7,006 square foot lot.
The unit mix consists of (1) two bedroom / one bathroom cottage and (5) one bedroom /one bathroom units. The two-bedroom cottage has been recently remodeled with new windows, electrical system, updated kitchen and bathroom. Roofs have also been newly replaced on all other units. Attractive tenant offerings include: gated access, laundry hook-ups in select units, ample yard space and (5) attached garages. Having been well maintained significant upside remaining through a comprehensive renovation of the rest of the units, the property presents an attractive opportunity to maximize cash flow in a submarket poised for continued rent growth and appreciation.
Located only two blocks away from both University Avenue and El Cajon Boulevard, as well as three blocks from 30th Street, the property is within walking distance to all the best North Park has to offer. The property also enjoys proximity to the 805 freeway. 4118-24 Iowa Street ultimately presents investors the rare opportunity to acquire a value-add asset with significant rental upside in one of San Diego’s most desirable rental markets.