4449-55 Illinois St, San Diego, CA 92116

• 3 beds |
• 2 baths |
• 6,913 sqft

Property Description

Fully Renovated 12-Unit Investment Property in Prime North Park/University Heights Location. This stabilized 12-unit asset offers the ideal unit mix of six 2BR/1BA and six 1BR/1BA units, with 6 off-street parking spaces and ample street parking via Boundary Street. The property includes 8 extensively remodeled existing units and 4 fully permitted ADUs—all featuring modern finishes, in-unit laundry, and mini-split A/C & heating. Interiors showcase updated kitchens, baths, flooring, lighting, windows, and appliances. Major system upgrades include sewer lateral replacement with new ABS plumbing, a new water main from meter to street, full re-plumbing of the rear building, and a comprehensive electrical overhaul with new panels and SDGE-compliant wiring. Exterior enhancements include new roofs, new siding and overhang, fresh paint, updated fencing, landscaping, and more. Offering a true 5% cap rate, this property is a rare opportunity to acquire a fully modernized, low-maintenance asset that will hold long-term value due to its exceptional location in one of San Diego’s most sought-after neighborhoods.

Listing Status:

Active

Listing Office:

LANDMARK MULTIFAMILY AND DEVEL : 408-368-5225

Listing Agent:

Joey Belcastro : 513-600-7498

MLS ID:

250037871

Interior

• A/C: Wall/Window

Exterior

• Parking: Parking spaces: 9

Construction

• General: Stucco2

Location

• Originating MLS: SDMLS
• County: San Diego

Lot

• Zoning: RM 3-9446-122-02-00

Financial

• Source: SDMLS

This listing courtesy of Joey Belcastro, LANDMARK MULTIFAMILY AND DEVEL