Property Detail

Description

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 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.