Property Details
Property Name
4368 Iowa St
Address
4368 Iowa St, San Diego, CA 92116
Asking Price
$2,700,000
Units
6
Building Size
4,054 SF
Property Type
Multifamily
Cap Rate
—
Price Per Unit
$450,000
Status
Active
Broker
South Coast Commercial
Investment Opportunity
Pleased to present 4368 Iowa St, a 6-unit apartment building in the highly desirable Normal Heights neighborhood. Comprised of (1) 2-bed/1-bath, (5) 1-bed/1-bath, and a studio. This asset is currently generating gross rental income of $10,895, with rental upside to $20,490 through garage conversions into ADUs. The property is within walking distance of many shops, bars, and restaurants, and renters can quickly access most areas of San Diego via the I-805 and I-15 freeways, El Cajon Blvd to the south, and Adams Avenue to the north. A great investment for a value-add investor looking to build sweat equity.
Why This Property
Strong in-place income
High-demand urban corridor
Rental upside potential
Limited competing inventory
Suitable for 1031 exchange
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