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Landis Canyon 3553 Landis St 4 Unit Apartment Building $2,080,000 ($520,000/Unit) 4.26% Cap Rate San Diego, CA 92104
Investment Highlights
- 92104 Zip Code. Private Canyon Like Setting.
- Built in 1987
- .21 ACRE Flat Lot should allow for Development of 2 Additional ADUs
- Four 3BR/2Bath Units
- Qualifies for High Leveraged 30 Yr Fixed Residential Financing
Executive Summary
The Landis Canyon apartments provides a unique opportunity to own a 4 Unit Apartment Complex with Stabilized Market Rents in Four 3BR Units. The Seller has Architectural Plans to Build 2 Additional Units. Located in the highly desirable 92104 Zip Code on a .21 Acre Flat Lot the property consists of Four Large 3BR/2Bath units with an average of 915 SF each and built in 1987. Architectural Plans are available to build 2 additional units consisting of a 2BR/2Bath & a 3BR/3Bath. The addition of these 2 units should bring in close to $7,000/month on top of the current income which is $11,400/month.
The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.
The Property is Centrally Located in between the 805 & 15 Freeways. Tenants will enjoy the convenience of being just a short walk to several Vibrant Neighborhoods including North Park, South Park & Normal Heights. The 3BR units are perfect for Families given the convenient location to several Elementary, Middle & High Schools as well as Several Grocery & Convenience Stores. Young Professionals will enjoy the convenience of being within a short walk, bike ride or Uber/Lyft to several Restaurants & Bars.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$88,669
|
$24.23
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $88,669 |
| Annual Per SF | $24.23 |
Property Facts
| Price | $2,080,000 | Building Class | C |
| Price Per Unit | $520,000 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 3,660 SF |
| Cap Rate | 4.26% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 2.19/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | RS-1-7 - Opportunity Zone. | ||
| Price | $2,080,000 |
| Price Per Unit | $520,000 |
| Sale Type | Investment |
| Cap Rate | 4.26% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 3,660 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 2.19/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RS-1-7 - Opportunity Zone. |
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Carpet
- Deck
- Den
- Dining Room
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | $2,895 | 915 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 447-641-29 | Improvements Assessment | $795,906 |
| Land Assessment | $1,061,208 | Total Assessment | $1,857,114 |
Property Taxes
Parcel Number
447-641-29
Land Assessment
$1,061,208
Improvements Assessment
$795,906
Total Assessment
$1,857,114
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Landis Canyon | 3553 Landis St