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2760-2762 Market St 5 Unit Apartment Building $1,440,000 ($288,000/Unit) 4.84% Cap Rate San Diego, CA 92102
Investment Highlights
- Significant 2013 renovations including updated stucco, roof, windows, flooring, bathrooms, kitchens & fixtures
- Seller Financing at 5.0% I/O for 5-Years
- One Mile to Downtown San Diego, Gaslamp Quarter, Petco Park
- Secure gated parking, on-site laundry, common areas, and expansive views from elevated lot
- Excellent Unit Mix - One 1 Bed / 1 Bath & Four 2 Bed / 1 Bath Units
Executive Summary
Market Street Apartments is a well-maintained five-unit multifamily asset located in the desirable Grant Hill neighborhood, just minutes from downtown San Diego. The property features an attractive mix of one- and two-bedroom units, including a detached two-bed/one-bath house, and underwent extensive renovations in 2013. Residents enjoy sweeping views, secured access, on-site laundry, and seven off-street parking spaces. With strong rental upside and convenient access to Hwy 94, Golden Hill, South Park, and downtown, this offering presents an excellent value-add opportunity for investors seeking long-term growth.
Property Facts Under Contract
| Price | $1,440,000 | Building Class | C |
| Price Per Unit | $288,000 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,952 SF |
| Cap Rate | 4.84% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1912/2013 |
| Property Subtype | Apartment | Parking Ratio | 2.37/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | MF-15, San Diego | ||
| Price | $1,440,000 |
| Price Per Unit | $288,000 |
| Sale Type | Investment |
| Cap Rate | 4.84% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,952 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1912/2013 |
| Parking Ratio | 2.37/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF-15, San Diego |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 600 - 675 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 535-321-08 | Improvements Assessment | $139,378 |
| Land Assessment | $696,909 | Total Assessment | $836,287 |
Property Taxes
Parcel Number
535-321-08
Land Assessment
$696,909
Improvements Assessment
$139,378
Total Assessment
$836,287
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2760-2762 Market St
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