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1671-73 Missouri St 1671-1673 Missouri St 4 Unit Apartment Building $2,450,000 ($612,500/Unit) 3% Cap Rate San Diego, CA 92109
Investment Highlights
- Single Family home with triplex on the Alley
- All 2 Bedroom Units
- Well Maintained
- 8 Off-Street Parking spots
- 1979 Year built triplex
Executive Summary
This prime Pacific Beach 4-unit offers a rare combination of coastal charm and modern utility, making it an ideal addition to any multi-family portfolio. The property features a detached 1942-built 2BR/1BA front Home with its own single-car garage and two parking spaces, paired with a well-maintained 1979-built rear triplex, totaling 3,164 livable square feet. This rear building has a unit mix consisting of one spacious 2BR/1.5BA townhome and two 2BR/1BA flats, all supported by on-site laundry and an exceptional parking ratio of six additional off-street spots accessed via the alley. In a submarket where parking is at a premium and vacancy remains historically low, this asset’s 91+ Walk Score—placing tenants just two blocks from Trader Joe’s and the vibrant Garnet Avenue corridor—ensures consistent demand and long-term appreciation potential. This four-unit property currently generates over $10,000 in gross rental income, with room for significant rental growth. Investors can also utilize current ADU laws to build additional units where the front home is while keeping the existing triplex.
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Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$125,880
|
$39.79
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$125,880
|
$39.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$48,329
|
$15.27
|
| Net Operating Income |
$77,551
|
$24.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $125,880 |
| Annual Per SF | $39.79 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $125,880 |
| Annual Per SF | $39.79 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $48,329 |
| Annual Per SF | $15.27 |
| Net Operating Income | |
|---|---|
| Annual | $77,551 |
| Annual Per SF | $24.51 |
Property Facts
| Price | $2,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $612,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 3% | Building Size | 3,164 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| Gross Rent Multiplier | 19 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1979 |
| Property Type | Multifamily | Parking Ratio | 2.53/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM 1-1 | ||
| Price | $2,450,000 |
| Price Per Unit | $612,500 |
| Sale Type | Investment |
| Cap Rate | 3% |
| Sale Condition | Redevelopment Project |
| Gross Rent Multiplier | 19 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 3,164 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.53/1,000 SF |
| Zoning | RM 1-1 |
Amenities
Unit Amenities
- Dishwasher
- Patio
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $3,270 | 764 |
| 2+1.5 | 1 | $2,730 | - |
| 2+1 | 2 | $2,245 | - |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 416-412-10 | Improvements Assessment | $293,111 |
| Land Assessment | $222,045 | Total Assessment | $515,156 |
Property Taxes
Parcel Number
416-412-10
Land Assessment
$222,045
Improvements Assessment
$293,111
Total Assessment
$515,156
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1671-73 Missouri St | 1671-1673 Missouri St
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