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Stacey Alysson Melman

4341 Texas ST
San Diego, CA, 92104
$3,450,000
Beds
0 Baths
0 SqFt
0.16 Acres
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MLS #PTP2606618 image #0
New pricing for a quick sale! The highest return turnkey Northpark multifamily deal on the market AND it has excessive parking AND highly desirable 1987 construction! 4341 Texas Street, San Diego offers a fully renovated, 1987 construction, 9-unit multifamily asset with an excessive 14 off-street parking spaces, immediate cash flow and remaining rental upside. 100% of units have been renovated. Parking is highly demanded and necessary to drive strong rents and occupancy in the Northpark Submarket. 4341 Texas will outperform competing rentals by providing 10 parking spaces plus an additional 4 garage spaces yielding 14 total parking spaces for 9 units, which is just shy of 1 parking space per bedroom, an extremely rare commodity in the dense Northpark submarket. The property features full ABS plumbing, individual unit water heaters for reduced SDGE usage, Challenger brand electrical panels with Romex wiring (400 amp/220V main service), and a pitched shingle roof. Ownership will benefit from the highly desirable infrastructure systems of a 1987 construction asset while maintaining the operational simplicity of a low-density asset, 2 story walk up building. The asset currently generates $272,012 annual GSI and $182,696 NOI, yielding a 5.30% in-place cap rate. There is approximately 10% income upside remaining with select units, the implementation of a utility billback program, and separated billing one of the double car garages. The asset is forecasted to produce $290,340 GSI and a 5.79% market cap rate at full market operations, with minimal to no additional capital investment required to achieve that additional income.
AGENT: Maxwell Brown
LISTING BROKERAGE: Commercial Asset Advisors
4341 Texas ST
San Diego, CA

Property Details

Price:
$3,450,000
MLS #:
PTP2606618
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Neighborhood:
92104northpark
Listed Date:
Aug 31, 2026
Total Sq Ft:
5,392
Lot Size:
7,003 sqft / 0.16 acres (approx)
Year Built:
1987
92104 – North Park92104northpark
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Schools

Interior

Laundry Features
AR, ICL

Exterior

Common Walls
_2CW
Community Features
CRB, PARK
Garage Spaces
4
Parking Spots
4
Parking Total
4

Financial

Net Operating Income
$181,414

Map

Community

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