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4721 Felton - 20 Unit Development 4721 Felton St 2 Unit Apartment Building $2,248,695 CAD ($1,124,347 CAD/Unit) 3.28% Cap Rate San Diego, CA 92116
Investment Highlights
- Efficient and well designed project, setup for success
- Amazing "north of Adams" prime Normal Heights location
- Excellent unit mix suitable for area with efficient, spacious floor plans
- Buyer to pay for all remaining permit costs. If Seller is asked to pay for them, price to be $1,895,000
Executive Summary
Finally a permit ready project that makes sense financially for a Buyer! GCs, Investors, Developers: look no further for your next - or first - ground up project. This expertly and efficiently designed 20 unit build is located in the cherished and revered "north of Adams" pocket of ever growing Normal Heights! Currently a duplex of 2BR 2BA generating income. The project is a 4 story build designed as a mostly wood frame product, avoiding costly construction costs that come with elevators, podiums, excessive steel etc. Units will feature modern, roomy and efficient floor plans and a unit mix perfect for this location. Contact the listing agent for more information, including 3rd party construction bid, property mgmt operation proforma and more!
Financial Summary (Pro Forma - 2027) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$895,085
|
$466.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$895,085
|
$466.19
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$291,081
|
$151.60
|
| Net Operating Income |
$604,004
|
$314.59
|
Financial Summary (Pro Forma - 2027)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $895,085 |
| Annual Per SF | $466.19 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $895,085 |
| Annual Per SF | $466.19 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $291,081 |
| Annual Per SF | $151.60 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $604,004 |
| Annual Per SF | $314.59 |
Property Facts
| Price | $2,248,695 CAD | Property Subtype | Apartment |
| Price Per Unit | $1,124,347 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 3.28% | Building Size | 1,920 SF |
| Gross Rent Multiplier | 22.6 | No. Stories | 1 |
| No. Units | 2 | Year Built | 2003 |
| Property Type | Multifamily |
| Price | $2,248,695 CAD |
| Price Per Unit | $1,124,347 CAD |
| Sale Type | Investment |
| Cap Rate | 3.28% |
| Gross Rent Multiplier | 22.6 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 1,920 SF |
| No. Stories | 1 |
| Year Built | 2003 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $4,159 CAD | 860 |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 439-401-12 | Improvements Assessment | $405,922 CAD (2025) |
| Land Assessment | $979,811 CAD (2025) | Total Assessment | $1,385,733 CAD (2025) |
Property Taxes
Parcel Number
439-401-12
Land Assessment
$979,811 CAD (2025)
Improvements Assessment
$405,922 CAD (2025)
Total Assessment
$1,385,733 CAD (2025)
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4721 Felton - 20 Unit Development | 4721 Felton St
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