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559-565 61st St 7 Unit Apartment Building $1,975,000 ($282,143/Unit) 5.03% Cap Rate San Diego, CA 92114
Investment Highlights
- Desirable Unit Mix: (1) 4 Bed / 2 Bath & (6) 2 Bed / 1 Bath
- Strong In-Place Income with Rental Upside
- 6 Tandem Parking Spaces and Gravel area that could be utilized for additional parking
Executive Summary
559-565 61st Street is a rare opportunity to acquire a 7 unit multifamily asset situated across four separate structures on a large 15,606 square foot lot. The property features a desirable unit mix of (6) 2 bedroom/1 bathroom units and (1) 4 bedroom/2 bathroom unit, providing broad tenant appeal and strong occupancy potential.
Current rents sit below market, creating a clear opportunity to increase cash flow through targeted interior renovations, strategic lease up, and professional management. An existing RUBS program provides supplemental income while helping offset utility expenses.
Encanto remains an attractive investment submarket driven by its relative affordability, strong neighborhood character, and convenient access to transportation. The property is located within walking distance of the Encanto/62nd Street Trolley Station, offering direct connectivity to Downtown San Diego. The property is located within a Federal Opportunity Zone, offering significant tax advantages for qualifying capital gains investments.
Current rents sit below market, creating a clear opportunity to increase cash flow through targeted interior renovations, strategic lease up, and professional management. An existing RUBS program provides supplemental income while helping offset utility expenses.
Encanto remains an attractive investment submarket driven by its relative affordability, strong neighborhood character, and convenient access to transportation. The property is located within walking distance of the Encanto/62nd Street Trolley Station, offering direct connectivity to Downtown San Diego. The property is located within a Federal Opportunity Zone, offering significant tax advantages for qualifying capital gains investments.
Data Room Click Here to Access
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 | $1,975,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $282,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 5.03% | Building Size | 5,793 SF |
| Gross Rent Multiplier | 11.58 | Average Occupancy | 85% |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1940 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RX-1-1 - Residential | ||
| Price | $1,975,000 |
| Price Per Unit | $282,143 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Gross Rent Multiplier | 11.58 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 5,793 SF |
| Average Occupancy | 85% |
| No. Stories | 1 |
| Year Built | 1940 |
| Opportunity Zone |
Yes |
| Zoning | RX-1-1 - Residential |
Amenities
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 750 |
| 4+2 | 1 | - | 1,350 - 1,400 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 549-052-10 | Improvements Assessment | $315,237 |
| Land Assessment | $466,291 | Total Assessment | $781,528 |
Property Taxes
Parcel Number
549-052-10
Land Assessment
$466,291
Improvements Assessment
$315,237
Total Assessment
$781,528
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559-565 61st St
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