4638 Iowa
Off Market
4638 Iowa St
San Diego
$2,500,000
Property Description
Pleased to present 4638 Iowa St – 6 unit apartment building in the highly desirable Normal Heights neighborhood. Comprised of (1) 2bed/1bath, (5) 1bed/1bath and a Studio. This asset is currently generating a gross rental income of $10,895 with rental upside to $20,490 with garage conversation into ADU's. The property is walking distance to many shops, bars and restaurants. Renters can quickly access most areas of San Diego via the I-805 and I-15 Freeways, El Cajon Blvd to the south, and Adams Avenue to the north. This is a great investment for a value-add investor looking to build sweat equity into the building.
Contact Agent
Alexio Barbara
760-419-1343
Investment Summary
Property Location
Off Market
$2,500,000
Property Type
Multifamily
Price/Unit
$450K
Units
Unit Mix
6
(5) 1bd/1ba, (1) 2bd / 1ba, Studio (unpermitted)
Price/Sq Ft
$666
NOI
$74,458
CAP
GRM
Sq Ft
Current
2.8
20.7
Imp
3,360
Year Built
1974
4638 Iowa St
Proforma
6.4
11.7
Land
6,799
