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5015 Auburn Dr 9 Unit Apartment Building $1,935,000 ($215,000/Unit) 4.87% Cap Rate San Diego, CA 92105
INVESTMENT HIGHLIGHTS
- Attractive Price Per Unit
- Two Legal Adjoining Parcels
- 33,000+ Sq Ft Lot
- Rental Upside
- Ability to Lock In 30 Yr Fixed Financing on 1 Parcel
- Located In An Opportunity Zone
EXECUTIVE SUMMARY
5011–15 Auburn Drive is a 9-unit multifamily property in San Diego’s rapidly developing City Heights neighborhood. Spanning over 33,000 sq ft across two legal parcels, the property features three buildings: two 2-story fourplexes with 1 bed/1 bath units, and a detached single-level 2 bed/1 bath home. The property includes a free-standing garage with potential for an ADU conversion, as well as an additional owner’s storage shed that also offers the possibility of conversion into another ADU (buyer to verify all). Ample
parking includes 4 open spaces, 4 tandem spots, and a long driveway with a garage accommodating up to 4 vehicles. A common coin-operated laundry room provides added convenience for residents. With the ability to secure 30 year fixed residential financing on one parcel, this investment offers a rare opportunity to unlock long-term
potential in a high-demand rental market. The two legal parcel also provide an added exit strategy, allowing an investor to sell the parcels individually if desired.
Don’t miss this competitively priced investment—perfect for repositioning and long-term growth.
parking includes 4 open spaces, 4 tandem spots, and a long driveway with a garage accommodating up to 4 vehicles. A common coin-operated laundry room provides added convenience for residents. With the ability to secure 30 year fixed residential financing on one parcel, this investment offers a rare opportunity to unlock long-term
potential in a high-demand rental market. The two legal parcel also provide an added exit strategy, allowing an investor to sell the parcels individually if desired.
Don’t miss this competitively priced investment—perfect for repositioning and long-term growth.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$179,400
|
$37.38
|
| Other Income |
$1,860
|
$0.39
|
| Vacancy Loss |
$5,438
|
$1.13
|
| Effective Gross Income |
$175,822
|
$36.63
|
| Taxes |
$22,320
|
$4.65
|
| Operating Expenses |
$29,678
|
$6.18
|
| Total Expenses |
$51,998
|
$10.83
|
| Net Operating Income |
$123,824
|
$25.80
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $179,400 |
| Annual Per SF | $37.38 |
| Other Income | |
|---|---|
| Annual | $1,860 |
| Annual Per SF | $0.39 |
| Vacancy Loss | |
|---|---|
| Annual | $5,438 |
| Annual Per SF | $1.13 |
| Effective Gross Income | |
|---|---|
| Annual | $175,822 |
| Annual Per SF | $36.63 |
| Taxes | |
|---|---|
| Annual | $22,320 |
| Annual Per SF | $4.65 |
| Operating Expenses | |
|---|---|
| Annual | $29,678 |
| Annual Per SF | $6.18 |
| Total Expenses | |
|---|---|
| Annual | $51,998 |
| Annual Per SF | $10.83 |
| Net Operating Income | |
|---|---|
| Annual | $123,824 |
| Annual Per SF | $25.80 |
PROPERTY FACTS
| Price | $1,935,000 | Building Class | C |
| Price Per Unit | $215,000 | Lot Size | 0.73 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Cap Rate | 4.87% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.8 | No. Stories | 2 |
| No. Units | 9 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 1.88/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RS-1-7 | ||
| Price | $1,935,000 |
| Price Per Unit | $215,000 |
| Sale Type | Investment |
| Cap Rate | 4.87% |
| Gross Rent Multiplier | 12.8 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.88/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RS-1-7 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,339 | 500 |
| 2+2 | 1 | $1,702 | 800 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 471-800-29 | Total Assessment | $473,511 (2025) |
| Land Assessment | $189,404 (2025) | Annual Taxes | $22,320 ($4.65/SF) |
| Improvements Assessment | $284,107 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
471-800-29
Land Assessment
$189,404 (2025)
Improvements Assessment
$284,107 (2025)
Total Assessment
$473,511 (2025)
Annual Taxes
$22,320 ($4.65/SF)
Tax Year
2026
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5015 Auburn Dr
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