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Albatross 2015 Albatross St 7 Unit Apartment Building $3,995,000 ($570,714/Unit) 4.59% Cap Rate San Diego, CA 92101
INVESTMENT HIGHLIGHTS
- Prime Little Italy Location – Steps from top restaurants, cafés, bars, and the Bay; one of San Diego’s most desirable rental markets.
- Turnkey Investment – Fully operational and well-maintained, offering immediate rental income with strong tenant demand.
- Modern Unit Mix – A blend of studios, one-bedroom, and two-bedroom units catering to diverse tenant profiles.
- New Construction (Built 2022) – Modern design, energy-efficient systems, and minimal maintenance for years ahead.
- Short-Term Rental Potential – Ideal layout and location for furnished or corporate rentals with excellent nightly rates.
- High-End Finishes – Stainless-steel appliances, quartz countertops, modern cabinetry, and in-unit washer/dryers.
EXECUTIVE SUMMARY
Investment Opportunity – Albatross Apartments, Little Italy
Welcome to Albatross, a modern gated apartment community built in 2022, perfectly located in the heart of Little Italy, one of San Diego’s most vibrant and desirable neighborhoods. This turnkey multifamily asset features contemporary studios, spacious one-bedrooms, and two-bedrooms, many offering breathtaking views of the bay and downtown skyline.
Each apartment offers a bright, open layout with modern kitchens, stainless steel appliances, in-unit washer/dryer, and private gated entries. The property includes 7 secured garage parking spaces and provides unbeatable walkability to restaurants, cafés, nightlife, the Bay, and Balboa Park.
A rare opportunity to own a 2022-built, high-demand investment property in a prime location ideal for short-term rentals and strong long-term appreciation potential.
Welcome to Albatross, a modern gated apartment community built in 2022, perfectly located in the heart of Little Italy, one of San Diego’s most vibrant and desirable neighborhoods. This turnkey multifamily asset features contemporary studios, spacious one-bedrooms, and two-bedrooms, many offering breathtaking views of the bay and downtown skyline.
Each apartment offers a bright, open layout with modern kitchens, stainless steel appliances, in-unit washer/dryer, and private gated entries. The property includes 7 secured garage parking spaces and provides unbeatable walkability to restaurants, cafés, nightlife, the Bay, and Balboa Park.
A rare opportunity to own a 2022-built, high-demand investment property in a prime location ideal for short-term rentals and strong long-term appreciation potential.
FINANCIAL SUMMARY (ACTUAL - 2024) 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 - 2024) 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 | $3,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $570,714 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.59% | Building Size | 5,941 SF |
| Gross Rent Multiplier | 14.89 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Zoning | RM-3-7 - Residential-Multiple Unit 'medium density' | ||
| Price | $3,995,000 |
| Price Per Unit | $570,714 |
| Sale Type | Investment |
| Cap Rate | 4.59% |
| Gross Rent Multiplier | 14.89 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 5,941 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2022 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RM-3-7 - Residential-Multiple Unit 'medium density' |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Patio
SITE AMENITIES
- Fenced Lot
- Private Bathroom
- Walk-Up
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 533-163-05 | Total Assessment | $1,818,951 (2025) |
| Land Assessment | $695,319 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,123,632 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
533-163-05
Land Assessment
$695,319 (2025)
Improvements Assessment
$1,123,632 (2025)
Total Assessment
$1,818,951 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Presented by
Baha & Associates Inc
Albatross | 2015 Albatross St
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