4080 Georgia Street presents the rare opportunity to acquire a well-maintained 9-unit apartment community in the heart of Hillcrest, one of San Diego’s most dynamic and consistently desirable rental markets. Constructed in 1987, the property features an attractive unit mix of six one-bedroom/one-bathroom apartments and three spacious three-bedroom/one-bathroom apartments, offering… Read More broad appeal to a diverse tenant base. The property has been exceptionally cared for and includes numerous amenities that enhance tenant satisfaction, including gated entry, on-site laundry facilities, ample off-street parking with one dedicated space per unit, and two oversized two-car garages that provide additional parking, storage, or potential supplemental income. Importantly, the Seller has implemented a strong RUBS (Ratio Utility Billing) System, allowing for reimbursement of most utilities and contract services, improving operational efficiency and supporting more predictable net operating income. Built in 1987, the property benefits from relatively newer construction compared to much of the surrounding inventory, resulting in modern building systems and mechanical components with significant remaining service life. Combined with its excellent physical condition, this translates into lower anticipated maintenance and capital expenditures for future ownership. From an investment perspective, the property offers an outstanding opportunity to increase revenue through moderate rental adjustments while maintaining strong occupancy in one of San Diego’s most supply-constrained neighborhoods. Read Less
Courtesy of The Browar Group, 858-414-4398, Josh Browar.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Com-Res Income
Beds
15
Full Baths
9
Square Ft.
5,498
MLS Number
260016439
30 Days Snapshot Of 92103
$1.07M
-24%
(avg) sold price
14
-53%
homes sold
18
+5%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 0, Building area total: 5498, 1 number of building, 2 stories, Living area: 5498, Living area units: Sqft, Building area units: Sqft, 9 total units
Expenses
Operating expense: $91,342
Income
Gross scheduled income: $266,100
Lot
Size units: Acres
Parking
Total: 9
Property
Property subtype: Com-Res Income, Property type: Residential Income
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Source: San Diego MLS
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