4037 Winona AVE, San Diego, CA 92105

Property Description

4037 Winona Ave presents a compelling low-barrier to entry opportunity to acquire a 1980s-constructed multifamily asset in Central San Diego, one of the region's most demanded rental markets. At an attractive $1,380,000 purchase price, investors can acquire six income-producing units at a significantly lower price-per-unit basis than comparable 3-4 unit properties, without a proportional increase in acquisition cost. The property consists of six (6) identical 510 SF one-bedroom/one-bathroom units, each featuring efficient layouts and walk-in closets. Capital improvements have been completed selectively across the unit mix, creating a clear value-add runway. One unit was fully renovated in 2021 with shaker cabinetry, hard-surface countertops, LVP flooring, updated appliances, and a refinished bathroom. Three additional units received interior refreshes between 2023-2025, including new vinyl flooring, refinished cabinetry, and updated hardware. The remaining two units retain original finishes and exhibit heavy wear, presenting upside through renovation and rent repositioning. The water heater was replaced in 2024. Exterior facia, window trim, and all iron gating, railings, and security windows were painted in 2025. Constructed in 1982, the property sits on a 6,173 SF full-size l