Casa Serena Apartment Homes 6455 Shaules Ave 41 Unit Apartment Building $9,840,000 ($240,000/Unit) 6.15% Cap Rate San Diego, CA 92114

DP Properties & Century 21 Masters is proud to present the Casa Serena Apartment Homes in the "Encanto Heights" neighborhood of San Diego. Casa Serena consists of forty one (41) 2 Bed/1 Bath single story cottage style units. Each building sits on its own parcel and the whole offering consists of twelve (12) total parcels. The gated property has 71 onsite parking spaces, on-site laundry facilities (owned), and 12 large storage units.
Casa Serena will allow an investor to purchase a large property with positive leverage from day one. The low-density large footprint (almost 2 acres) may allow for a development play down the road. The 12 individual parcels allow for the investor to choose between commercial or residential financing.
Encanto (Spanish for "Charm") is a hilly urban neighborhood located in the southeastern region of San Diego, California. The neighborhood is bordered by California State Route 94 and the communities of Oak Park and Broadway Heights to the north, O'Farrell (also known as South Encanto) to the south, Emerald Hills and Valencia Park to the west and the city of Lemon Grove to the east.
Encanto is a predominantly low-density residential community, with commercial and industrial businesses located near major streets. Encanto Heights (where the subject property is located) sits just above the Encanto submarket, on the top of the hill providing beautiful views of the downtown skyline. The property itself is in a quiet pocket surrounded by all single family homes.