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4659 North Ave 10 Unit Apartment Building $5,000,000 ($500,000/Unit) 4.52% Cap Rate San Diego, CA 92116
Investment Highlights
- Newly Renovated in 2026
- Off-Street Parking - 10 Spaces
- Walking Distance to Attractions on El Cajon & Park Blvd
- New Electrical & Plumbing Systems
- Secure Gated Entry
- Dual Pane Windows, In-Unit Laundry, A/C
Executive Summary
Whitewater Commercial Real Estate presents a rare opportunity to acquire a fully renovated apartment community located in the heart of the University Heights neighborhood of San Diego.
Built in 1971 and extensively renovated in 2026, 4659 North Avenue consists of 6,519 square feet of rentable living space situated on a 7,000 square foot lot. The property features an attractive and well-balanced unit mix of seven 1-bedroom / 1-bathroom units, two 2-bedroom / 1.5-bathroom units, and one 2-bedroom / 2-bathroom unit.
Each unit has been elegantly renovated with modern interior finishes including quartz counter tops, updated cabinetry, and vinyl plank flooring. Residents also enjoy a variety of desirable amenities such as air conditioning, in-unit laundry, ceiling fans, upgraded bathrooms, and dedicated off-street parking for every unit.
With its prime location, extensive renovations, ample parking, and strong demand for rental housing, 4659 North Avenue offers investors a turnkey opportunity positioned for stable cash flow and long-term appreciation in one of San Diego’s most desirable rental markets.
Built in 1971 and extensively renovated in 2026, 4659 North Avenue consists of 6,519 square feet of rentable living space situated on a 7,000 square foot lot. The property features an attractive and well-balanced unit mix of seven 1-bedroom / 1-bathroom units, two 2-bedroom / 1.5-bathroom units, and one 2-bedroom / 2-bathroom unit.
Each unit has been elegantly renovated with modern interior finishes including quartz counter tops, updated cabinetry, and vinyl plank flooring. Residents also enjoy a variety of desirable amenities such as air conditioning, in-unit laundry, ceiling fans, upgraded bathrooms, and dedicated off-street parking for every unit.
With its prime location, extensive renovations, ample parking, and strong demand for rental housing, 4659 North Avenue offers investors a turnkey opportunity positioned for stable cash flow and long-term appreciation in one of San Diego’s most desirable rental markets.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2026) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $500,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.52% | Building Size | 6,519 SF |
| Gross Rent Multiplier | 14.98 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2026 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Zoning | RM-2-5 | ||
| Price | $5,000,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 4.52% |
| Gross Rent Multiplier | 14.98 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 6,519 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2026 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | RM-2-5 |
Amenities
Unit Amenities
- Dishwasher
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Double Pane Windows
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Laundry Facilities
- Gated
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $2,525 | 600 |
| 2+1.5 | 2 | $3,323 | 750 |
| 2+2 | 1 | $3,495 | 819 |
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 445-041-04 | Total Assessment | $3,050,000 (2025) |
| Land Assessment | $2,000,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,050,000 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
445-041-04
Land Assessment
$2,000,000 (2025)
Improvements Assessment
$1,050,000 (2025)
Total Assessment
$3,050,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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4659 North Ave
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