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2918-2928 Upshur St 8 Unit Apartment Building $3,500,000 ($437,500/Unit) 2.65% Cap Rate San Diego, CA 92106
Executive Summary
Introducing an exceptional investment opportunity just blocked from the San Diego Yacht Club and San Diego Bay.
This 8 unit property sits on 2 parcels. All units are 1 bed, 1 bath and are around 500 sqft. The property also has (4) 1 car garages which are currently being rented. This property is a rare opportunity for value add in a coastal community.
Shown only with accepted offer. Information herein has been obtained from sources believed reliable. South Coast Commercial INC does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations. Reach out to Ellis Jolly for all questions and info (619) 415-5736
This 8 unit property sits on 2 parcels. All units are 1 bed, 1 bath and are around 500 sqft. The property also has (4) 1 car garages which are currently being rented. This property is a rare opportunity for value add in a coastal community.
Shown only with accepted offer. Information herein has been obtained from sources believed reliable. South Coast Commercial INC does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations. Reach out to Ellis Jolly for all questions and info (619) 415-5736
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,500,000 | Apartment Style | Garden |
| Price Per Unit | $437,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 2.65% | Building Size | 4,000 SF |
| Gross Rent Multiplier | 20.5 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.5/1,000 SF |
| Zoning | RM3-9 - Residential zoning, 1 dwelling unit per 600 SF allowable base density | ||
| Price | $3,500,000 |
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 2.65% |
| Gross Rent Multiplier | 20.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | RM3-9 - Residential zoning, 1 dwelling unit per 600 SF allowable base density |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 500 |
1 1
Walk Score®
Very Walkable (87)
Property Taxes
| Parcel Numbers | Total Assessment | $809,971 (2025) | |
| Land Assessment | $533,159 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $276,812 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$533,159 (2025)
Improvements Assessment
$276,812 (2025)
Total Assessment
$809,971 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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2918-2928 Upshur St
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