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Shepard's Garden 1903 K St 28 Unit Apartment Building $3,300,000 ($117,857/Unit) 7.20% Cap Rate San Diego, CA 92102
EXECUTIVE SUMMARY
1903 K Street is a centrally located Single Room Occupancy (SRO) property offering in-place income in San Diego’s urban core. The property benefits from proximity to Downtown San Diego, employment centers, public transportation, and major freeway access.
The existing SRO configuration provides a steady rental model serving consistent demand for attainable housing. The asset is well-positioned for investors seeking current cash flow in a supply-constrained infill location.
Convenient access to nearby amenities, transit corridors, and regional employment hubs enhances long-term tenant demand.
The existing SRO configuration provides a steady rental model serving consistent demand for attainable housing. The asset is well-positioned for investors seeking current cash flow in a supply-constrained infill location.
Convenient access to nearby amenities, transit corridors, and regional employment hubs enhances long-term tenant demand.
PROPERTY FACTS
| Price | $3,300,000 | Apartment Style | Garden |
| Price Per Unit | $117,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 7.20% | Building Size | 11,894 SF |
| Gross Rent Multiplier | 8.35 | No. Stories | 2 |
| No. Units | 28 | Year Built/Renovated | 1920/2019 |
| Property Type | Multifamily | Parking Ratio | 1.37/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C | ||
| Price | $3,300,000 |
| Price Per Unit | $117,857 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| Gross Rent Multiplier | 8.35 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 11,894 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2019 |
| Parking Ratio | 1.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C |
AMENITIES
UNIT AMENITIES
- Heating
- Tub/Shower
- Freezer
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Gated
- Individual Locking Bedrooms
- Private Bathroom
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 28 | - | 100 - 115 |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 535-413-16 | Improvements Assessment | $864,525 |
| Land Assessment | $1,673,277 | Total Assessment | $2,537,802 |
PROPERTY TAXES
Parcel Number
535-413-16
Land Assessment
$1,673,277
Improvements Assessment
$864,525
Total Assessment
$2,537,802
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Shepard's Garden | 1903 K St
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