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4177 Illinois St
San Diego, CA 92104
Floral Vine · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Desirable unit mix of four 1BR/1BA units and four 2BR/2BA units
- RUBS program implemented on 7 of 8 units, generating additional income
- Eight off-street parking spaces
- New roof installed in 2023
- Expanded laundry room with new commercial-grade WASH machines
- Recently upgraded landscaping enhances curb appeal
Executive Summary
The McCartin group is pleased to present 4177 Illinois Street, an 8-unit multifamily property located in the heart of North Park, one of San Diego's most desirable rental markets. The property features a balanced unit mix of four 1-bedroom/1-bathroom units and four 2-bedroom/2-bathroom units, along with eight off-street parking spaces. Recent capital improvements include a new roof installed in 2023, upgraded landscaping, and an expanded on-site laundry facility with new commercial-grade WASH-operated machines.
The property also benefits from a RUBS program implemented on 7 of the 8 units, generating approximately $100-$150 per unit per month in additional income with the opportunity for further expansion. With strong in-place cash flow, supplemental income sources, and a highly sought-after North Park location, 4177 Illinois Street presents investors with an attractive combination of stability and long-term upside potential.
The property also benefits from a RUBS program implemented on 7 of the 8 units, generating approximately $100-$150 per unit per month in additional income with the opportunity for further expansion. With strong in-place cash flow, supplemental income sources, and a highly sought-after North Park location, 4177 Illinois Street presents investors with an attractive combination of stability and long-term upside potential.
Property Facts
| Price Per Unit | $437,049 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 4.73% | Building Size | 5,590 SF |
| Gross Rent Multiplier | 13.82 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-3-7 | ||
| Price Per Unit | $437,049 CAD |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Gross Rent Multiplier | 13.82 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 5,590 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.43/1,000 SF |
| Zoning | RM-3-7 |
Amenities
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 565 |
| 2+2 | 4 | - | 776 |
Property Taxes
| Parcel Number | 446-322-04 | Improvements Assessment | $558,036 CAD |
| Land Assessment | $289,257 CAD | Total Assessment | $847,293 CAD |
Property Taxes
Parcel Number
446-322-04
Land Assessment
$289,257 CAD
Improvements Assessment
$558,036 CAD
Total Assessment
$847,293 CAD
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