5445-47 Mildred St

Top Gun CRE is pleased to present 5445-47 Mildred St, a charming and well-maintained 1959-built fourplex situated directly across the street from the main entrance of the University of San Diego. The property offers a rare combination of large unit sizes, strong in-place cash flow, and 14% rent upside through natural turnover.

The unit mix includes two 2Bd/1Ba units, one 3Bd/1Ba, and a standout 2Bd/2Ba owner's suite featuring hardwood floors, a private balcony, and exclusive access to a rooftop deck above the storage room with sweeping views, ideal for an owner-occupant or premium-rent tenant. All units are sized above typical vintage fourplex stock in the area. The asset sits on a 5,001 SF lot with 3,414 SF of rentable area, five on-site parking spaces, common-area laundry, and an additional storage room that can be leased for added revenue. CC-3-4 zoning with a 4.0 FAR provides significant flexibility for future density, ADU addition, or full redevelopment, adding a meaningful value-add layer for a long-term hold.

Located minutes from Downtown San Diego, Mission Bay, and three major freeways (I-5, I-8, and SR-163), Mildred St offers the kind of central, infill location that drives consistent tenant demand and long-term rent growth. Its position directly across from USD creates an exceptionally strong and recurring tenant pipeline, with student, faculty, and staff demand refreshing each academic cycle and supporting premium rents and minimal vacancy. Morena itself has limited new construction and deep renter demand from USD, local hospitals, and Downtown employment. A clean, low-maintenance asset with clear upside, ideal for a 1031 exchange buyer, owner occupant, or local operator.