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4513-4523 Cleveland Ave 6 Unit Apartment Building $3,095,000 ($515,833/Unit) San Diego, CA 92116
EXECUTIVE SUMMARY
4513–4523 Cleveland Ave | University Heights, San Diego
We are proud to present 4513–4523 Cleveland Ave, a newly renovated 6-unit multifamily property in the heart of University Heights, one of San Diego’s most desirable and high-demand rental markets.
The property offers an ideal mix of (3) one-bed/one-bath units and (3) two-bed/one-bath units, all upgraded to modern, tenant-preferred standards. Four units are already leased to highly qualified tenants, while two brand-new units have just been completed and are ready for immediate lease-up.
Each unit features brand-new appliances, updated electrical, in-unit washer/dryers, and new mini-split heating and cooling systems, creating durable long-term value and strong renter appeal. These upgrades significantly reduce maintenance needs and position the property as a top-tier offering within the submarket.
Located steps from Park Blvd and Adams Ave, residents enjoy walkability to cafés, restaurants, entertainment, and major transit connections—ensuring exceptionally low vacancy risk and consistent rental demand.
Investment Highlights
• Fully renovated, turnkey asset
• Strong unit mix with balanced tenant appeal
• 4 stabilized units + 2 brand-new units
• All units feature new appliances, electrical, W/Ds, and mini-splits
• Prime University Heights location with excellent appreciation potential
This is a rare chance to acquire a high-quality, low-maintenance property with both immediate cash flow and long-term upside.
We are proud to present 4513–4523 Cleveland Ave, a newly renovated 6-unit multifamily property in the heart of University Heights, one of San Diego’s most desirable and high-demand rental markets.
The property offers an ideal mix of (3) one-bed/one-bath units and (3) two-bed/one-bath units, all upgraded to modern, tenant-preferred standards. Four units are already leased to highly qualified tenants, while two brand-new units have just been completed and are ready for immediate lease-up.
Each unit features brand-new appliances, updated electrical, in-unit washer/dryers, and new mini-split heating and cooling systems, creating durable long-term value and strong renter appeal. These upgrades significantly reduce maintenance needs and position the property as a top-tier offering within the submarket.
Located steps from Park Blvd and Adams Ave, residents enjoy walkability to cafés, restaurants, entertainment, and major transit connections—ensuring exceptionally low vacancy risk and consistent rental demand.
Investment Highlights
• Fully renovated, turnkey asset
• Strong unit mix with balanced tenant appeal
• 4 stabilized units + 2 brand-new units
• All units feature new appliances, electrical, W/Ds, and mini-splits
• Prime University Heights location with excellent appreciation potential
This is a rare chance to acquire a high-quality, low-maintenance property with both immediate cash flow and long-term upside.
PROPERTY FACTS
| Price | $3,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $515,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| No. Units | 6 | Building Size | 4,090 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1949/2025 |
| Zoning | R3 | ||
| Price | $3,095,000 |
| Price Per Unit | $515,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,090 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1949/2025 |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Freezer
- Lawn
- Patio
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Gated
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (72)
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San Diego Exclusive Properties
4513-4523 Cleveland Ave
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