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5260-5262 Rex Ave 13 Unit Apartment Building $4,275,000 ($328,846/Unit) 6.31% Cap Rate San Diego, CA 92105
Investment Highlights
- Prime Central San Diego Location Near Local Amenities And Transportation Hubs
- Well-Maintained Granite/Tile Counters, Dual-Pane Windows, And Tile Flooring
- Eleven Single-Car Garages, Four Carport Spaces & Nine Off-Street Parking Spaces
- Substantial Value-Add Opportunity Through ADU Conversion And Unit Renovation
- Desirable Two-Bedroom / Two-Bath Unit Mix In A High Demand Rental Market
- Newer Roof With Solar Panels (Need Repair For Utility Savings); Plumbing Upgraded
Executive Summary
CBRE is pleased to present 5260-62 Rex Ave, a value-add, high-yield 13-unit apartment complex located in the City Heights neighborhood of San Diego. Built in 1987, the property consists entirely of two-bedroom, two-bathroom units. Units feature dual-pane windows, granite and tile countertops, and predominantly tile flooring. Eight of the thirteen units have been updated with new kitchens and bathrooms, positioning the property for strong day-one cashflow.
The complex has had a new roof installed in 2019, which is equipped with solar panels to offset utility costs, and one of two plumbing systems have been recently replaced with copper pipes. Residents enjoy ample surface parking, 11 garages, and access to convenient on-site, shared laundry facilities. Well-maintained and already mostly renovated, the property offers immediate income with additional upside through strategic unit improvements and ADU conversions. Its strong unit mix, recent capital improvements, potential investment upside, and high-demand rental market location creates a compelling opportunity for investors.
The complex has had a new roof installed in 2019, which is equipped with solar panels to offset utility costs, and one of two plumbing systems have been recently replaced with copper pipes. Residents enjoy ample surface parking, 11 garages, and access to convenient on-site, shared laundry facilities. Well-maintained and already mostly renovated, the property offers immediate income with additional upside through strategic unit improvements and ADU conversions. Its strong unit mix, recent capital improvements, potential investment upside, and high-demand rental market location creates a compelling opportunity for investors.
Financial Summary (Actual - 2025) 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,275,000 | Building Class | C |
| Price Per Unit | $328,846 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 10,725 SF |
| Cap Rate | 6.31% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.89 | No. Stories | 2 |
| No. Units | 13 | Year Built | 1987 |
| Property Type | Multifamily | Parking Ratio | 2.24/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MR15B, San Diego | ||
| Price | $4,275,000 |
| Price Per Unit | $328,846 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| Gross Rent Multiplier | 10.89 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 10,725 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 2.24/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MR15B, San Diego |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 13 | $2,567 | 825 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $406,982 | |
| Land Assessment | $166,095 | Total Assessment | $573,077 |
Property Taxes
Parcel Numbers
Land Assessment
$166,095
Improvements Assessment
$406,982
Total Assessment
$573,077
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5260-5262 Rex Ave
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