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4010-4016 Illinois St 6 Unit Apartment Building $2,720,640 CAD ($453,440 CAD/Unit) San Diego, CA 92104
Investment Highlights
- Prime North Park location with a Walk Score of 97.
- Four units currently vacant, offering immediate upside potential.
- On-site parking includes garages, carports, and tandem spaces.
- Six-unit property with detached three-bedroom front house.
- Recent upgrades include dual-pane windows and new electrical panels.
- Strong rental demand near Balboa Park and major employment hubs.
Executive Summary
4010-4016 Illinois Street presents a rare opportunity to acquire a six-unit multifamily property in the highly desirable North Park neighborhood of San Diego, CA. The property consists of four one-bedroom/one-bath units, one larger one-bedroom/one-bath unit with a private balcony, and a detached three-bedroom/one-bath home at the front of the lot, offering excellent flexibility for investors or owner-users. Situated on a 7,005 SF lot, the property includes two single-car garages, two carport spaces, and two tandem spaces. Recent capital improvements include new dual-pane windows, upgraded ABS sewer lines, and new electrical sub-panels. With four units currently vacant, investors can immediately capture strong in-place income or implement a renovation program to achieve a projected 6.72% pro forma cap rate. Located just blocks from the vibrant North Park commercial corridor, residents enjoy walkable access to dining, retail, and entertainment, with convenient proximity to Downtown San Diego and major employment centers.
Property Facts
| Price | $2,720,640 CAD | Building Class | C |
| Price Per Unit | $453,440 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 4,258 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1945 |
| Property Subtype | Apartment | Parking Ratio | 1.41/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R1, San Diego | ||
| Price | $2,720,640 CAD |
| Price Per Unit | $453,440 CAD |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,258 SF |
| No. Stories | 2 |
| Year Built | 1945 |
| Parking Ratio | 1.41/1,000 SF |
| Zoning | R1, San Diego |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 500 - 700 |
| 3+1 | 1 | - | 1,200 |
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (71)
Property Taxes
| Parcel Number | 446-381-18 | Improvements Assessment | $504,394 CAD |
| Land Assessment | $502,388 CAD | Total Assessment | $1,006,782 CAD |
Property Taxes
Parcel Number
446-381-18
Land Assessment
$502,388 CAD
Improvements Assessment
$504,394 CAD
Total Assessment
$1,006,782 CAD
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4010-4016 Illinois St
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