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Crown Point Cottages 1566 Reed Ave 3 Unit Apartment Building $2,100,000 ($700,000/Unit) 3.64% Cap Rate San Diego, CA 92109
Investment Highlights
- Highly desirable Pacific Beach / Crown Point location with strong rental demand
- Two units with updated kitchens and baths; one newly built in 2024
- New unit features split-system A/C and heat; others have window A/C
- Three charming cottage-style units, each with a private yard space
- Each unit includes an in-unit stackable LG WashTower
Executive Summary
1566 Reed Ave presents the rare opportunity to acquire a charming 3-unit multifamily property in the highly desirable Crown Point neighborhood of Pacific Beach. Located just blocks from Mission Bay, beaches, Trader Joe’s, restaurants, cafés, and nightlife, the property offers an exceptional coastal lifestyle with strong and consistent rental demand.
The property consists of three private cottage-style 1-bedroom / 1-bathroom units, including a newly constructed rear unit and two newly updated front units featuring modern finishes and thoughtful design. Residents benefit from private fenced yard spaces, in-unit laundry, air conditioning, quartz countertops, stainless appliance package and tiled bathrooms.
1566 Reed Ave offers investors the opportunity to acquire a turnkey coastal asset in one of San Diego’s most sought-after and supply-constrained beach communities, positioned for long-term appreciation and continued tenant demand.
The property consists of three private cottage-style 1-bedroom / 1-bathroom units, including a newly constructed rear unit and two newly updated front units featuring modern finishes and thoughtful design. Residents benefit from private fenced yard spaces, in-unit laundry, air conditioning, quartz countertops, stainless appliance package and tiled bathrooms.
1566 Reed Ave offers investors the opportunity to acquire a turnkey coastal asset in one of San Diego’s most sought-after and supply-constrained beach communities, positioned for long-term appreciation and continued tenant demand.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,100,000 | Property Subtype | Apartment |
| Price Per Unit | $700,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.64% | Lot Size | 0.07 AC |
| Gross Rent Multiplier | 18.78 | Building Size | 1,510 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2024 |
| Zoning | RM-1-1 | ||
| Price | $2,100,000 |
| Price Per Unit | $700,000 |
| Sale Type | Investment |
| Cap Rate | 3.64% |
| Gross Rent Multiplier | 18.78 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 1,510 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2024 |
| Zoning | RM-1-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $3,148 | 450 - 610 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
70/100
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Crown Point Cottages | 1566 Reed Ave
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