2801-2807 Columbia St 6 Unit Apartment Building $2,575,000 ($429,167/Unit) 4.33% Cap Rate San Diego, CA 92103

Opportunity to acquire a well-maintained, 3-story, six-unit apartment property on Columbia Street, ideally situated between Mission Hills, Little Italy, and Bankers Hill. The property consists of two buildings. The front building at 2801–2807 Columbia Street features four spacious two-bedroom, one-bath units, three garages, and a shared laundry facility. The rear building at 962–964 W. Olive Street—accessed via a walkway along the south side of the property—offers two additional two-bedroom, one-bath units. All six residences provide over 900 square feet of living space and feature neutral finishes, abundant natural light, and private outdoor areas that enhance tenant appeal. The property is thoughtfully equipped with a new water heater, upgraded electrical panels, central forced heating, dual-pane windows, and hardwood flooring. Five of the six units boast west-facing balconies with sweeping views of the downtown San Diego skyline, San Diego Bay, and the Pacific Ocean. Residents can take in stunning sunsets, coastal breezes, and even watch planes arrive and depart—creating a uniquely dynamic urban-coastal living experience. This asset has demonstrated strong appeal to long-term tenants, contributing to stable occupancy and consistent cash flow. Its highly desirable location and unit mix position it for continued long-term appreciation in one of San Diego’s most sought-after rental markets. Tenants are responsible for the majority of utilities per their lease terms, while ownership covers water, hot water, and trash.