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3854 50th St 10 Unit Apartment Building $2,350,000 ($235,000/Unit) 5.46% Cap Rate San Diego, CA 92105
INVESTMENT HIGHLIGHTS
- New Windows & Most Units Remodeled
- Less Than 200 Feet From University Avenue
- Market 9.9 GRM & 6.9% Cap Rate
- 16 Open Parking Spaces
EXECUTIVE SUMMARY
3854 50th Street is a 10-unit apartment complex that consists of 5,696 rentable SF situated on a 12,502 SF lot with over 16 parking spaces. The unit mix consists of 2 well laid out 2 Bed / 1.5 Bath units and 8 spacious 1 Bed / 1 Bath units, most of which have been remodeled with newer flooring, kitchens and bathrooms as well as security doors. The property was built in 1980 and features newer windows, laundry facilities, and a clean exterior. There is additional income from Utility Billback from the tenants and upside in the current rents. This is a true value add deal.
The property is located on a quiet residential street. This property is located a few hundred feet from the shopping and transit on University Avenue and blocks from the new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants. The City Heights Library and new Police Station are nearby.
Socially and economically, Central San Diego has a high concentration businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, Central San Diego has a high rate of pedestrian activity, relative to the rest of San Diego. Central San Diego is located next to many of the major highways with close access to the coast, beaches, business districts, downtown, and Mexico.
PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.
The property is located on a quiet residential street. This property is located a few hundred feet from the shopping and transit on University Avenue and blocks from the new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants. The City Heights Library and new Police Station are nearby.
Socially and economically, Central San Diego has a high concentration businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, Central San Diego has a high rate of pedestrian activity, relative to the rest of San Diego. Central San Diego is located next to many of the major highways with close access to the coast, beaches, business districts, downtown, and Mexico.
PLEASE DO NOT WALK ON THE 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 | $2,350,000 | Building Class | C |
| Price Per Unit | $235,000 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 5,696 SF |
| Cap Rate | 5.46% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.6 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 2.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MR15B | ||
| Price | $2,350,000 |
| Price Per Unit | $235,000 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| Gross Rent Multiplier | 11.6 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,696 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MR15B |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,673 | 510 |
| 2+2 | 2 | $1,763 | 750 |
1 1
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 471-621-39 | Improvements Assessment | $574,162 (2025) |
| Land Assessment | $1,339,713 (2025) | Total Assessment | $1,913,875 (2025) |
PROPERTY TAXES
Parcel Number
471-621-39
Land Assessment
$1,339,713 (2025)
Improvements Assessment
$574,162 (2025)
Total Assessment
$1,913,875 (2025)
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3854 50th St
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