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6-Units // Value Add // Linda Vista 2240 W Dunlop St 6 Unit Apartment Building $1,695,000 ($282,500/Unit) 4.84% Cap Rate San Diego, CA 92111
Investment Highlights
- Surrounded by Redevelopment in an Up-and-Coming Neighborhood
- Six (6) 1Bedroom/1Bathroom Units
- Value Add Opportunity with ~32% Upside in Rents
- 1:1 Parking Ratio (Six Off Street Parking Spaces)
Executive Summary
This 6-unit property is located in a prime Linda Vista neighborhood surrounded by ongoing redevelopment and private investment. The asset features six (6) 1BD/1BA units and six (6) off-street parking spaces. There is currently ~32% upside in rental income, creating a clear value-add path. With its central location—minutes from Downtown San Diego, SeaWorld, Mission Valley, and USD—and as one of San Diego’s most actively improving neighborhoods, Linda Vista remains a highly sought-after rental market.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$128,592
|
$36.11
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,858
|
$1.08
|
| Effective Gross Income |
$124,734
|
$35.03
|
| Taxes |
$22,458
|
$6.31
|
| Operating Expenses |
$21,494
|
$6.04
|
| Total Expenses |
$43,952
|
$12.34
|
| Net Operating Income |
$80,782
|
$22.69
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $128,592 |
| Annual Per SF | $36.11 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,858 |
| Annual Per SF | $1.08 |
| Effective Gross Income | |
|---|---|
| Annual | $124,734 |
| Annual Per SF | $35.03 |
| Taxes | |
|---|---|
| Annual | $22,458 |
| Annual Per SF | $6.31 |
| Operating Expenses | |
|---|---|
| Annual | $21,494 |
| Annual Per SF | $6.04 |
| Total Expenses | |
|---|---|
| Annual | $43,952 |
| Annual Per SF | $12.34 |
| Net Operating Income | |
|---|---|
| Annual | $80,782 |
| Annual Per SF | $22.69 |
Property Facts
| Price | $1,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $282,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.84% | Building Size | 3,561 SF |
| Gross Rent Multiplier | 13.18 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.57/1,000 SF |
| Zoning | RM-2-5 | ||
| Price | $1,695,000 |
| Price Per Unit | $282,500 |
| Sale Type | Investment |
| Cap Rate | 4.84% |
| Gross Rent Multiplier | 13.18 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,561 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.57/1,000 SF |
| Zoning | RM-2-5 |
Amenities
Unit Amenities
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Tub/Shower
- Carpet
- Dining Room
- Double Pane Windows
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,786 | 594 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 432-060-08 | Total Assessment | $1,908,050 |
| Land Assessment | $1,443,242 | Annual Taxes | $22,458 ($6.31/SF) |
| Improvements Assessment | $464,808 | Tax Year | 2025 |
Property Taxes
Parcel Number
432-060-08
Land Assessment
$1,443,242
Improvements Assessment
$464,808
Total Assessment
$1,908,050
Annual Taxes
$22,458 ($6.31/SF)
Tax Year
2025
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