Bulk Townhomes Operating as Apartments 307 Sycamore Rd 18 Unit Apartment Building $9,250,000 ($513,889/Unit) 5.03% Cap Rate San Ysidro, CA 92173

The Bove Investment Team is pleased to present Raintree Terrace, an 18-unit residential community located at 307 Sycamore Road in San Ysidro, California. Built in 2016 as individually designed condominium-style townhomes, the property is currently operated as a single apartment complex. The unit mix consists entirely of spacious three- and four-bedroom residences averaging approximately 1,700 square feet, providing a larger and more functional rental product than most competing apartments in the South Bay market.
Raintree Terrace offers modern construction, strong in-place cash flow, limited near-term capital needs, and additional rental upside. The property is exempt from California AB 1482 rent control and the City of San Diego Tenant Protection Ordinance through 2031 under the new-construction exemption, providing ownership with greater flexibility to increase rents and manage operations.
Situated on approximately 0.98 acres, the gated community features direct-entry two-car garages, private balconies and patios, full-size washers and dryers, quartz countertops, stainless steel appliances, central air conditioning, and open-concept floor plans. The property also provides convenient access to Interstate 5, Interstate 805, SR-905, the San Ysidro Port of Entry, and major employment centers throughout South San Diego County.
The adjacent parcel is also available for sale separately or together with Raintree Terrace. The approximately one-acre site has approvals for 24 additional townhome-style units, creating an opportunity to expand the existing community, develop a complementary second phase, or acquire both properties as a larger residential investment.