2186-2190 National Ave 7 Unit Apartment Building $2,050,000 ($292,857/Unit) 4.81% Cap Rate San Diego, CA 92113

2186–2190 & 2194 National Avenue presents a covered land, mixed-use investment opportunity in the heart of Barrio Logan. Following a recent price adjustment, the property now offers an even more compelling basis with multiple avenues to create value. The ±13,728 SF hard-corner site spans multiple parcels and is governed by the Barrio Logan Planned District with CC-3-6 zoning, benefiting from Complete Communities, Coastal Zone, TPA, SDA, and Promise Zone overlays that support increased density and reduced parking requirements. The property is currently improved with three cottage residential units, a single-family residence, a two-unit retail building, and a commercial kitchen, providing in-place income while allowing investors to execute a meaningful value-add strategy. A significant opportunity exists to convert the existing retail building into residential ADUs, substantially increasing rental income and overall cash flow while preserving the property's covered land characteristics. Combined with the long-term redevelopment potential of the approximately ±14,000 SF hard-corner site, the asset offers investors a unique blend of current income, near-term upside, and future land value in one of San Diego's most active infill neighborhoods.