4669-73 Felton Street, San Diego, CA

About this property

We are pleased to present Felton St Apartment Homes, a 7-unit multifamily property featuring 5 legal units and 2 nonconforming bonus units, strategically located at 4669–4673 Felton Street in San Diego, California. Just steps from the iconic Normal Heights Sign and the vibrant Adams Avenue corridor, the property benefits from immediate access to a dynamic mix of local dining, nightlife, and daily conveniences; including national anchors such as Starbucks and Yoga Box. This prime location consistently attracts strong tenant demand driven by its central proximity to Downtown San Diego, major employment hubs, and surrounding lifestyle neighborhoods like North Park and Kensington. This well-maintained investment asset offers an exceptional opportunity for investors to acquire a high-demand residential property in one of the region’s strongest and most stable rental markets. This well-maintained investment asset provides a rare opportunity to acquire a property positioned in one of San Diego’s most desirable and resilient rental markets. The property offers significant rent upside potential, with an average of approximately 25% achievable through rental adjustments to market rates. In addition to income growth potential, the two nonconforming bonus units present investors with the option to pursue legalization, adding long-term value and enhancing the property’s overall unit mix. Furthermore, the site’s RM‑1‑2 zoning offers flexibility and potential for future development or strategic unit expansion, providing a compelling opportunity for savvy investors seeking both current income and long-term appreciation.

Property highlights

Building size

2,964 SF

Lot size

7149 acres

Year built

1911

Zoning

RM-1-2

County

San Diego

Map position is based on listing coordinates. Confirm access, entrances, and boundaries with the listing team; the marker is not a parcel survey.