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Felton Street Apartments 4755 Felton St 14 Unit Apartment Building $9,423,054 CAD ($673,075 CAD/Unit) 4.78% Cap Rate San Diego, CA 92116
Investment Highlights
- NORTH OF ADAMS AVENUE IN NORMAL HEIGHTS – Highly desirable neighborhood comprised mostly of single-family residences
- (14) OFF-STREET PARKING SPACES – (7) spaces in front and (7) spaces in rear with alley access
- HALF BLOCK FROM ADAMS AVENUE – Highly walkable to all amenities on Adams Avenue – Felton Street & Adams Ave is the center of Adams Avenue
- EXTENSIVE INTERIOR & EXTERIOR RENOVATIONS AND UPGRADES – Upgraded electrical, new roof, in-unit washer/dryers, AC, dishwashers
Executive Summary
4755 Felton Street is a turnkey 14 unit multifamily investment opportunity located just North of Adams Avenue in the center of the desirable Normal Heights neighborhood of San Diego, California. Originally constructed in 1969 and fully renovated and upgraded in 2022, this attractive asset sits on a 9,419-square-foot lot and is comprised of approximately 9,932 square feet of building area.
The property features a desirable and well-balanced unit mix consisting of (6) two-bedroom / one-bathroom units, (7) one-bedroom / one-bathroom units, and (1) studio unit, catering to an ideal tenant base. Additionally, there are (14) off-street parking spaces, (7) in the front and (7) in the rear off the alley.
The property has undergone extensive exterior and interior renovations and upgrades including electrical, roof & windows, in-unit washer/dryers, wall air conditioning units, and dishwashers.
Being just North of Adams Avenue, at the center of Normal Heights Business District, gives tenants convenient walkable access to all that Adams Avenue has to offer. Additionally, it offers quick easy access to Interstates 805, 15 and 8.
The property features a desirable and well-balanced unit mix consisting of (6) two-bedroom / one-bathroom units, (7) one-bedroom / one-bathroom units, and (1) studio unit, catering to an ideal tenant base. Additionally, there are (14) off-street parking spaces, (7) in the front and (7) in the rear off the alley.
The property has undergone extensive exterior and interior renovations and upgrades including electrical, roof & windows, in-unit washer/dryers, wall air conditioning units, and dishwashers.
Being just North of Adams Avenue, at the center of Normal Heights Business District, gives tenants convenient walkable access to all that Adams Avenue has to offer. Additionally, it offers quick easy access to Interstates 805, 15 and 8.
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$631,607
|
$63.59
|
| Other Income |
$19,256
|
$1.94
|
| Vacancy Loss |
$18,949
|
$1.91
|
| Effective Gross Income |
$631,914
|
$63.62
|
| Taxes |
$117,896
|
$11.87
|
| Operating Expenses |
$64,033
|
$6.45
|
| Total Expenses |
$181,929
|
$18.32
|
| Net Operating Income |
$449,985
|
$45.31
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $631,607 |
| Annual Per SF | $63.59 |
| Other Income (CAD) | |
|---|---|
| Annual | $19,256 |
| Annual Per SF | $1.94 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $18,949 |
| Annual Per SF | $1.91 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $631,914 |
| Annual Per SF | $63.62 |
| Taxes (CAD) | |
|---|---|
| Annual | $117,896 |
| Annual Per SF | $11.87 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $64,033 |
| Annual Per SF | $6.45 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $181,929 |
| Annual Per SF | $18.32 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $449,985 |
| Annual Per SF | $45.31 |
Property Facts
| Price | $9,423,054 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $673,075 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.78% | Building Size | 9,932 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1969/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.41/1,000 SF |
| Zoning | RM-1-1 | ||
| Price | $9,423,054 CAD |
| Price Per Unit | $673,075 CAD |
| Sale Type | Investment |
| Cap Rate | 4.78% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 9,932 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2022 |
| Parking Ratio | 1.41/1,000 SF |
| Zoning | RM-1-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $4,042 CAD | 850 |
| 1+1 | 7 | $3,599 CAD | 625 |
| Studios | 1 | $2,897 CAD | 400 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 439-401-07 | Total Assessment | $6,102,232 CAD (2025) |
| Land Assessment | $4,488,001 CAD (2025) | Annual Taxes | $117,896 CAD ($11.87 CAD/SF) |
| Improvements Assessment | $1,614,232 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
439-401-07
Land Assessment
$4,488,001 CAD (2025)
Improvements Assessment
$1,614,232 CAD (2025)
Total Assessment
$6,102,232 CAD (2025)
Annual Taxes
$117,896 CAD ($11.87 CAD/SF)
Tax Year
2026
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Felton Street Apartments | 4755 Felton St
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