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2621 Highland Ave 7 Unit Apartment Building $2,200,000 ($314,286/Unit) 4.41% Cap Rate San Diego, CA 92105
INVESTMENT HIGHLIGHTS
- All units have been renovated from 2020-2025. Exterior Renovated 2025
- Further Upside Potential Through Continuation of Utility Billback Program already in Place with Third Party RUBS program Livable
- Large Floorplans with one townhome style unit with attached 2-Car Garage
- Strong In-Place Cash Flow with Upside - 4.41% In-Place, 5.8% Pro Forma Cap
- 11 On-site Parking Spaces
- Property is right next to Swan Canyon
EXECUTIVE SUMMARY
Prime Investment Property with Upside – Ideal for investors looking to acquire a well-located asset with room to capture higher rent
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$129,923
|
$23.47
|
| Other Income |
$1,165
|
$0.21
|
| Vacancy Loss |
$1,300
|
$0.23
|
| Effective Gross Income |
$129,788
|
$23.44
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$33,906
|
$6.12
|
| Net Operating Income |
$95,882
|
$17.32
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $129,923 |
| Annual Per SF | $23.47 |
| Other Income | |
|---|---|
| Annual | $1,165 |
| Annual Per SF | $0.21 |
| Vacancy Loss | |
|---|---|
| Annual | $1,300 |
| Annual Per SF | $0.23 |
| Effective Gross Income | |
|---|---|
| Annual | $129,788 |
| Annual Per SF | $23.44 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $33,906 |
| Annual Per SF | $6.12 |
| Net Operating Income | |
|---|---|
| Annual | $95,882 |
| Annual Per SF | $17.32 |
PROPERTY FACTS
| Price | $2,200,000 | Building Class | C |
| Price Per Unit | $314,286 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,536 SF |
| Cap Rate | 4.41% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1979/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | 4 - R-4: Multiple Residential | ||
| Price | $2,200,000 |
| Price Per Unit | $314,286 |
| Sale Type | Investment |
| Cap Rate | 4.41% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,536 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1979/2025 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | 4 - R-4: Multiple Residential |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Disposal
- Microwave
- Ceiling Fans
- Tile Floors
- Kitchen
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Dining Room
- Freezer
- Linen Closet
- Pantry
- Patio
- Smoke Free
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Recycling
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,745 | 609 |
| 2+1.5 | 2 | $1,900 | 943 |
| 2+2 | 1 | $2,200 | 1,260 |
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2621 Highland Ave
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