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4576 4582 Felton Street, San Diego, CA 92116

$2,300,000 Approx. USD 0 beds, 0 baths

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Reese Nickell | reeseknickell@gmail.com
Lic#: 02195727
Broker: Courtesy of Freedom Realty
Phone: 858-327-1544

Agent Remarks

Rare 7-unit Normal Heights offering with the heavy lifting done. Two detached buildings on one lot: a 1926 Spanish-style 2BD/2BA single-family home, fully renovated in 2022, with its own detached garage and private fenced yard, plus a brand-new two-story building of six units completed in 2026 (two 2BD/2BA and four 1BD/1BA). The new units feature private entries, ductless mini-split A/C, tankless water heaters, quartz counters, electric ranges, fire sprinklers and individual water sub-meters. Six of seven units are leased at 2026 market rents, and one unit is ready to lease. Currently operating at a 5.64% cap rate, with the potential to reach 6.60% once stabilized. New construction means little deferred maintenance, and the new units may be exempt from AB 1482 rent caps (buyer to verify). Walk to the cafes, restaurants and shops of Adams Ave, minutes to North Park, I-805 and I-8.

Listing Details

Property type: (Multi-Family)

Status: Pending

MLS# PTP2607746

Price: $2,300,000

HOA Fee is $0.00

Beds: 0

Baths: 0

Built in 2024

0.15 acres

Lot size: 0.1522

County: San Diego

Zoning: R-3:Restricted Multiple

Lot description: ZeroToOneUnitAcre

MLS area: 92116 - Normal Heights

Last Updated: 10/27/2026

Days On Market (DOM): 5

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This listing belongs to the 92116 - Normal Heights MLS area

Lat/Long: 32.760562, -117.122202.
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