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2956 Clay Ave - 2956-58 Clay Ave 2 Unit Apartment Building Offered at $850,000 at a 3.10% Cap Rate San Diego, CA 92113
Investment Highlights
- Large 1,020 SF 2bd/2ba Units
- Significant Value Add Oppurtunity
- 7,000 SF Lot with Alley Access
- Renovation Upside with Additional Unit Potential
Executive Summary
This well-positioned duplex sits in the heart of Logan Heights, a central infill neighborhood experiencing strong rental demand, continued revitalization, and rising investor activity. The property includes two spacious 2-bedroom, 2-bathroom units on a 6,987 SF lot. This is a significant value add oppurtunity through modern interior upgrades while also offering long-term potential due to the size and layout of the site. Positioned near Downtown, the Coronado Bridge, and I-5, the property offers unmatched access to major job centers and regional transit. This prime infill location enhances long-term renter demand and supports a range of value-add and expansion strategies.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$43,800
|
$21.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$43,800
|
$21.47
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$17,645
|
$8.65
|
| Net Operating Income |
$26,155
|
$12.82
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $43,800 |
| Annual Per SF | $21.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $43,800 |
| Annual Per SF | $21.47 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $17,645 |
| Annual Per SF | $8.65 |
| Net Operating Income | |
|---|---|
| Annual | $26,155 |
| Annual Per SF | $12.82 |
Property Facts
| Price | $850,000 | Lot Size | 0.16 AC |
| Price Per Unit | $425,000 | Building Size | 2,040 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 3.10% | Year Built | 1980 |
| No. Units | 2 | Parking Ratio | 2.94/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $850,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 3.10% |
| No. Units | 2 |
| Property Type | Multifamily |
| Lot Size | 0.16 AC |
| Building Size | 2,040 SF |
| No. Stories | 1 |
| Year Built | 1980 |
| Parking Ratio | 2.94/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Refrigerator
- Oven
- Yard
- Patio
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $2,000 | 1,020 |
| 2+2 | 1 | $1,650 | 1,020 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
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2956 Clay Ave - 2956-58 Clay Ave
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