4582 Felton Street, San Diego, CA 92116

—

Beds

—

Baths

—

Sq ft

About this home

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.

Type

Residential

Year built

2024

Lot

6,628 sq ft

Garage

1 car

HOA

None

Pool

View

—

Solar

—

Estimated payment

$14,505/mo

Principal & interest$11,630
Property tax (est.)$2,204
Home insurance (est.)$671

Down payment: 20% ($460,000)Interest rate %

Example only, not a loan offer. Rate is a placeholder; ask a lender for today's. Taxes vary by neighborhood (Mello-Roos).

Listing provided courtesy of Reese Nickell, Freedom Realty, reeseknickell@gmail.com. MLS# PTP2607746. Based on information from California Regional Multiple Listing Service, Inc. as of November 1, 2026 at 8:00 AM Pacific. Information is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use to identify prospective properties they may be interested in purchasing. Coldwell Banker Associated Brokers Realty, CA DRE #00939614.