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4112-4118 Bannock Ave 5 Unit Apartment Building $2,429,000 ($485,800/Unit) 5.21% Cap Rate San Diego, CA 92117
Investment Highlights
- Desirable Clairemont location, within a short walk to Clairemont Town Square, proximate to major employment hubs and lifestyle amenities
- Desirable unit mix comprised entirely of large two- and three-bedroom single story floorplans.
- Highly accessible corridor with excellent visibility and connectivity to I-5, I-805, and other major public transportation routes.
- Ample off-street parking and two large garages.
- Additional density available by building the underutilized portions of the lot along with garage conversions.
Executive Summary
We are pleased to present 4112 Bannock Ave, a 5-unit multifamily property in the highly desirable Clairemont neighborhood of San Diego, CA. Clairemont is renowned for its picturesque surroundings, nestled between the natural beauty of Tecolote Canyon Natural Park and the recreational allure of Mission Bay Park, providing residents with a perfect blend of outdoor adventure and urban convenience.
The property features off-street parking & an attractive unit mix, comprised of three 2-bedroom/1-bath cottage style units, and two large 3-bedroom/2-bath units with private garages. Its strategic location in Bay Park offers seamless connectivity via Interstate 8, placing key destinations like Downtown San Diego (7 miles), San Diego International Airport (6 miles), and the University of San Diego (3 miles) within a short commute.
Clairemont is considered “Very Walkable,” with residents enjoying easy access to gourmet dining along Morena Boulevard and recreational hotspots such as Tecolote Canyon Golf Course and Playa Pacifica Park. Mission Bay Park, just minutes away, offers surfing, sunbathing, and dog-friendly beaches, making it a haven for outdoor enthusiasts. The neighborhood’s proximity to the University of San Diego, enrolling over 8,000 students, enhances its appeal to a diverse tenant base and supports a robust rent al market, bolstered by the area’s $1.5 billion annual economic impact from the university and nearby employment hubs. This property presents a rare opportunity for investors to acquire an asset in Bay Park, a submarket experiencing strong rental demand driven by its unique blend of natural beauty, recreational amenities, and urban accessibility.
The property features off-street parking & an attractive unit mix, comprised of three 2-bedroom/1-bath cottage style units, and two large 3-bedroom/2-bath units with private garages. Its strategic location in Bay Park offers seamless connectivity via Interstate 8, placing key destinations like Downtown San Diego (7 miles), San Diego International Airport (6 miles), and the University of San Diego (3 miles) within a short commute.
Clairemont is considered “Very Walkable,” with residents enjoying easy access to gourmet dining along Morena Boulevard and recreational hotspots such as Tecolote Canyon Golf Course and Playa Pacifica Park. Mission Bay Park, just minutes away, offers surfing, sunbathing, and dog-friendly beaches, making it a haven for outdoor enthusiasts. The neighborhood’s proximity to the University of San Diego, enrolling over 8,000 students, enhances its appeal to a diverse tenant base and supports a robust rent al market, bolstered by the area’s $1.5 billion annual economic impact from the university and nearby employment hubs. This property presents a rare opportunity for investors to acquire an asset in Bay Park, a submarket experiencing strong rental demand driven by its unique blend of natural beauty, recreational amenities, and urban accessibility.
Property Facts
| Price | $2,429,000 | Property Subtype | Apartment |
| Price Per Unit | $485,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 5.21% | Building Size | 4,900 SF |
| Gross Rent Multiplier | 12.48 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1954 |
| Property Type | Multifamily | ||
| Zoning | RM-1-1 | ||
| Price | $2,429,000 |
| Price Per Unit | $485,800 |
| Sale Type | Investment |
| Cap Rate | 5.21% |
| Gross Rent Multiplier | 12.48 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 4,900 SF |
| No. Stories | 2 |
| Year Built | 1954 |
| Zoning | RM-1-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $2,913 | 700 - 800 |
| 3+2 | 2 | $3,774 | 1,350 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 360-190-06 | Improvements Assessment | $419,410 |
| Land Assessment | $888,584 | Total Assessment | $1,307,994 |
Property Taxes
Parcel Number
360-190-06
Land Assessment
$888,584
Improvements Assessment
$419,410
Total Assessment
$1,307,994
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4112-4118 Bannock Ave
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