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4921-23 Gary St, San Diego, CA 92115 4921 Gary St 2 Unit Apartment Building $1,395,000 ($697,500/Unit) 4.75% Cap Rate San Diego, CA 92115
Investment Highlights
- 5BD/2BA and 1BD/1BA layout diversifies income and reduces vacancy risk.
- Generates $8,340/month in combined rental income across two units.
- Turnkey duplex with zero deferred maintenance, ready for immediate cash flow.
Executive Summary
4921-23 Gary St is a brand-new construction duplex in the heart of the SDSU rental community, offering a rare turnkey investment opportunity. The property features a spacious 5BD/2BA unit alongside a 1BD/1BA unit, generating $8,340/month in combined rental income in one of San Diego's most consistently in-demand rental markets. Both units offer beautiful, brand-new interiors with zero deferred maintenance, giving new ownership immediate cash flow from day one. Driveway parking adds valuable convenience in a submarket where off-street parking is highly sought after. Ideally positioned near SDSU, transit, and neighborhood retail, this asset offers strong leasing velocity, and long-term rental stability.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$100,800
|
$70.64
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,004
|
$3.51
|
| Effective Gross Income |
$95,796
|
$67.13
|
| Taxes |
$17,438
|
$12.22
|
| Operating Expenses |
$11,444
|
$8.02
|
| Total Expenses |
$28,882
|
$20.24
|
| Net Operating Income |
$66,914
|
$46.89
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $100,800 |
| Annual Per SF | $70.64 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,004 |
| Annual Per SF | $3.51 |
| Effective Gross Income | |
|---|---|
| Annual | $95,796 |
| Annual Per SF | $67.13 |
| Taxes | |
|---|---|
| Annual | $17,438 |
| Annual Per SF | $12.22 |
| Operating Expenses | |
|---|---|
| Annual | $11,444 |
| Annual Per SF | $8.02 |
| Total Expenses | |
|---|---|
| Annual | $28,882 |
| Annual Per SF | $20.24 |
| Net Operating Income | |
|---|---|
| Annual | $66,914 |
| Annual Per SF | $46.89 |
Property Facts
| Price | $1,395,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $697,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 4.75% | Building Size | 1,427 SF |
| Gross Rent Multiplier | 13.9 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2026 |
| Property Subtype | Apartment | ||
| Zoning | RS-1-7 - Single Family Residential | ||
| Price | $1,395,000 |
| Price Per Unit | $697,500 |
| Sale Type | Investment |
| Cap Rate | 4.75% |
| Gross Rent Multiplier | 13.9 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 1,427 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1971/2026 |
| Zoning | RS-1-7 - Single Family Residential |
Amenities
Unit Amenities
- Washer/Dryer
Site Amenities
- Awning
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
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Map
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Contact the Sale Advisor
4921-23 Gary St, San Diego, CA 92115 | 4921 Gary St