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4781 Cereza St
San Diego, CA 92102
Multifamily Property For Sale
·
11 Units
Investment Highlights
- 11 units span over three floor plans: (3) 1BD/1BA, (4) 2BD/1BA, and (4) 2BD/2BA
- Quartz countertops, stainless steel appliances, and contemporary interiors
- Exempt from AB 1482 rent control and San Diego TPO
- Gated-access residential setting with guest parking
Executive Summary
Located in the vibrant Lincoln Park neighborhood of San Diego, this fully renovated 11-unit apartment community offers investors a stabilized, turn-key asset in one of the city’s highest-demand rental corridors. Originally constructed in 2023 and recently updated in 2025, the 8,380 SF property showcases contemporary design, modern infrastructure, and efficient layouts across a desirable unit mix of one- and two-bedroom apartments.
Sited on a 0.23-acre lot, the property delivers a clean, low-maintenance investment with quality in-place tenants and minimal near-term capital needs. Recent upgrades include new kitchens, bathrooms, flooring, and building systems, creating long-term durability and appeal. With strong operating income and competitive cost per square foot, this asset offers immediate yield with long-term appreciation potential.
Sited on a 0.23-acre lot, the property delivers a clean, low-maintenance investment with quality in-place tenants and minimal near-term capital needs. Recent upgrades include new kitchens, bathrooms, flooring, and building systems, creating long-term durability and appeal. With strong operating income and competitive cost per square foot, this asset offers immediate yield with long-term appreciation potential.
Property Facts
| Price Per Unit | $380,909 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.70% | Building Size | 8,380 SF |
| Gross Rent Multiplier | 12.05 | No. Stories | 3 |
| No. Units | 11 | Year Built | 2023 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | RM-2-5 | ||
| Price Per Unit | $380,909 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Gross Rent Multiplier | 12.05 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 8,380 SF |
| No. Stories | 3 |
| Year Built | 2023 |
| Opportunity Zone |
Yes |
| Zoning | RM-2-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 511 |
| 2+1 | 4 | - | 664 |
| 2+2 | 4 | - | 886 |
Property Taxes
| Parcel Number | 547-323-05 | Improvements Assessment | $1,142,400 |
| Land Assessment | $165,728 | Total Assessment | $1,308,128 |
Property Taxes
Parcel Number
547-323-05
Land Assessment
$165,728
Improvements Assessment
$1,142,400
Total Assessment
$1,308,128
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