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3153-55 G St 4 Unit Apartment Building $1,475,000 ($368,750/Unit) 5.53% Cap Rate San Diego, CA 92102
Investment Highlights
- 5.53% pro forma cap rate upon lease-up with two brand-new vacant ADUs ready for immediate occupancy.
- Front 4BD/1BA home with opportunity to add a second bathroom (existing plumbing in place).
- Rear detached 1BD/1BA home with detached garage and rental upside.
- Mix of strong in-place income and value-add upside.
- Two newly completed permitted 1BD/1BA ADUs featuring modern finishes, mini-splits, and brand-new appliances.
- Gated property with two laundry areas, storage shed, and separately metered gas & electric.
Executive Summary
We are pleased to present 3153-55 G Street, a four-unit multifamily investment opportunity in San Diego's Grant Hill neighborhood offering immediate lease-up potential and long-term value-add upside. The property features a 4BD/1BA front home with the opportunity to add a second bathroom, two newly constructed 1BD/1BA ADUs (2026) delivered vacant with modern finishes, mini-splits, and brand-new appliances, and a detached 1BD/1BA rear home with a one-car garage and additional rental upside. Additional amenities include owned solar, two laundry areas, separate gas and electric meters, a gated lot, and a storage shed. Conveniently located just minutes from Downtown San Diego, Balboa Park, and major freeways, the property is projected to achieve an estimated 5.53% pro forma cap rate upon lease-up, while still offering meaningful upside through renovation of the existing homes.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$123,000
|
$46.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,690
|
$1.38
|
| Effective Gross Income |
$119,310
|
$44.62
|
| Taxes |
$18,438
|
$6.90
|
| Operating Expenses |
$19,350
|
$7.24
|
| Total Expenses |
$37,788
|
$14.13
|
| Net Operating Income |
$81,522
|
$30.49
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $123,000 |
| Annual Per SF | $46.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,690 |
| Annual Per SF | $1.38 |
| Effective Gross Income | |
|---|---|
| Annual | $119,310 |
| Annual Per SF | $44.62 |
| Taxes | |
|---|---|
| Annual | $18,438 |
| Annual Per SF | $6.90 |
| Operating Expenses | |
|---|---|
| Annual | $19,350 |
| Annual Per SF | $7.24 |
| Total Expenses | |
|---|---|
| Annual | $37,788 |
| Annual Per SF | $14.13 |
| Net Operating Income | |
|---|---|
| Annual | $81,522 |
| Annual Per SF | $30.49 |
Property Facts
| Price | $1,475,000 | Apartment Style | Low-Rise |
| Price Per Unit | $368,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.53% | Building Size | 2,674 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 0% |
| Gross Rent Multiplier | 12 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1960/2026 |
| Property Type | Multifamily | Parking Ratio | 1.87/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RX-1-1 | ||
| Price | $1,475,000 |
| Price Per Unit | $368,750 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 2,674 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2026 |
| Parking Ratio | 1.87/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RX-1-1 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Yard
- Patio
- Porch
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 1 | $4,250 | 1,380 |
| 1+1 | 3 | $2,000 | 355 - 506 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 545-042-07 | Total Assessment | $784,759 (2025) |
| Land Assessment | $118,662 (2025) | Annual Taxes | $18,438 ($6.90/SF) |
| Improvements Assessment | $666,097 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
545-042-07
Land Assessment
$118,662 (2025)
Improvements Assessment
$666,097 (2025)
Total Assessment
$784,759 (2025)
Annual Taxes
$18,438 ($6.90/SF)
Tax Year
2026
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3153-55 G St
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