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Del Rey Apartments 3455 Del Rey St 16 Unit Apartment Building $5,200,000 ($325,000/Unit) 5.76% Cap Rate San Diego, CA 92109
INVESTMENT HIGHLIGHTS
- Extensive Exterior & Interior Renovations performed in 2019
- Ample Off-Street Parking
- Mission Bay Located, near Balboa Ave. Trolley Station, Shopping, Restaurants Nightlife, Bay & Beaches
- All Units have Modernized Kitchens & Bathrooms, Stainless Steel Appliances, Quartz Countertops, Air Conditioning & Dual Paned Windows
- Owned On-Site Laundry (Upgraded in 2024) & Storage Units
EXECUTIVE SUMMARY
New pricing! SB 79 Potential! Walk to Mission Bay, a 4,600 acre aquatic park with miles of beach, bay & water sports year-round. All units have been completely rehabilitated down to the framing & designer remodeled with modernized laminated wood style flooring, designer quality kitchen cabinets, stainless steel appliances, decor quartz countertops, fully remodeled bathrooms, bedrooms feature Closet Maid customized drawer pullouts & shelving, floor to ceiling mirror closet doors, dual-paned windows, & individual heating and A/C. This turnkey investment offers a brand new laundry facility, and an outdoor common area with umbrella tables, flower garden, courtyard, & rentable storage units. This unique property is near shopping, restaurants, nightlife, Balboa Ave. trolley station & transportation corridors. A new owner may utilize the location to maximize rental income implementing student housing, corporate/vacation rentals & traveling nurse tenants.
** Drive by Only, Please Do Not Walk on Property or Disturb Tenants
** Drive by Only, Please Do Not Walk on Property or Disturb Tenants
FINANCIAL SUMMARY (ACTUAL - 2024) 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,200,000 | Property Subtype | Apartment |
| Price Per Unit | $325,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.76% | Lot Size | 0.29 AC |
| Sale Condition | 1031 Exchange | Building Size | 9,048 SF |
| Gross Rent Multiplier | 11.31 | No. Stories | 2 |
| No. Units | 16 | Year Built/Renovated | 1965/2019 |
| Property Type | Multifamily | Parking Ratio | 1.77/1,000 SF |
| Zoning | RM-4-10 - Multi-Family | ||
| Price | $5,200,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.31 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 9,048 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2019 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | RM-4-10 - Multi-Family |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Double Pane Windows
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $2,543 | 702 |
| 1+1 | 14 | $2,340 | 546 |
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PROPERTY TAXES
| Parcel Number | 424-362-16 | Improvements Assessment | $1,024,044 (2025) |
| Land Assessment | $3,129,028 (2025) | Total Assessment | $4,153,072 (2025) |
PROPERTY TAXES
Parcel Number
424-362-16
Land Assessment
$3,129,028 (2025)
Improvements Assessment
$1,024,044 (2025)
Total Assessment
$4,153,072 (2025)
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Del Rey Apartments | 3455 Del Rey St
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