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1055 21st Street 4 Unit Apartment Building $1,950,000 ($487,500/Unit) 4.59% Cap Rate San Diego, CA 92102
INVESTMENT HIGHLIGHTS
- Upgraded asset located in one of the fastest growing neighborhoods in San Diego
- Immediate upside with fully APPROVED PLANS AND ISSUED PERMITS for a one-bedroom ADU
- Highly walkable location (Walk Score 87) near Balboa Park, Downtown, South Park
- Ample off-street parking
- Boasts a desirable unit mix for the area of all one-bedroom units
- Easy access to Highway 94 and Downtown
EXECUTIVE SUMMARY
We are pleased to present 1055 21st St, San Diego, CA 92102 a luxury four-unit multifamily asset located just outside of Downtown in the highly desirable and walkable Golden Hill neighborhood of San Diego, California. The property underwent an extensive luxury renovation program in 2024 with no expense spared. The property comes with approved plans and issued permits for an additional 532 square foot one-bedroom ADU. The property features a desirable unit mix consisting of four (4) one-bedroom floor plans, each averaging approximately 650 square feet. Interiors are spacious and well-appointed with premium designer fixtures and finishes, in unit washer/dryer, quartz countertops, and luxury vinyl flooring. Tenants enjoy an outdoor common area and BBQ and off-street parking, an increasingly scarce amenity in central San Diego. Currently, all units are furnished, operating as a midterm rental.
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PROPERTY FACTS
| Price | $1,950,000 | Property Subtype | Apartment |
| Price Per Unit | $487,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.59% | Lot Size | 0.14 AC |
| Gross Rent Multiplier | 13.9 | Building Size | 2,600 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2024 |
| Zoning | RM-1-2 - 2-4 Unit Multi-Family | ||
| Price | $1,950,000 |
| Price Per Unit | $487,500 |
| Sale Type | Investment |
| Cap Rate | 4.59% |
| Gross Rent Multiplier | 13.9 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 2,600 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2024 |
| Zoning | RM-1-2 - 2-4 Unit Multi-Family |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $3,258 | 650 |
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Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 534-266-02 | Improvements Assessment | $499,800 |
| Land Assessment | $867,000 | Total Assessment | $1,366,800 |
PROPERTY TAXES
Parcel Number
534-266-02
Land Assessment
$867,000
Improvements Assessment
$499,800
Total Assessment
$1,366,800
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1055 21st Street
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