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4629 Bancroft St
San Diego, CA 92116
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Prime Normal Heights Location
- 1/2 Block South of Adams Avenue
- Garage Parking for 4 + 6 Spaces
- Garages for Possible ADU Conversion
- Pride of Ownership Property
- Rental Upside
Executive Summary
8 Pride of Ownership Normal Heights units just 1/2 block south of Adams Avenue. 6 of the 8 units have been fully renovated featuring: granite countertops, new kitchen and bath cabinets, new tile showers, stainless steel refrigerators-dishwashers-microwaves-stoves, wood laminate floors, dual pane windows, etc. The property features: two 2-car garages, 5 open parking spaces, secured gated access, owned cashless laundry room (also renovated), new main electric panel, new50-year roof (2016), new exterior paint (2023), zero scape landscaping, and completed balcony inspection (2025). Building was re-piped in 2015 and tented for termites in 2021. The 2 non-renovated units are in great condition and also have wood laminate flooring. There is significant potential for increased cash flow, as current rents are 12% to 15% below market rates. Investors have the option to further maximize returns by either converting the two double garages into Accessory Dwelling Units (ADUs) or charging tenants for garage usage.
Property Facts
| Price Per Unit | $509,158 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.50% | Building Size | 7,186 SF |
| Gross Rent Multiplier | 14.5 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1967/2016 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM-1-2 | ||
| Price Per Unit | $509,158 CAD |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Gross Rent Multiplier | 14.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 7,186 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1967/2016 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | RM-1-2 |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Disposal
- Microwave
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Freezer
Site Amenities
- Laundry Facilities
- Gated
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $2,696 CAD | - |
| 2+1 | 3 | $3,236 CAD | - |
Property Taxes
| Parcel Number | 439-432-24 | Improvements Assessment | $865,165 CAD |
| Land Assessment | $635,480 CAD | Total Assessment | $1,500,645 CAD |
Property Taxes
Parcel Number
439-432-24
Land Assessment
$635,480 CAD
Improvements Assessment
$865,165 CAD
Total Assessment
$1,500,645 CAD
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