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7372 Fay Ave - 7372-76 Fay Ave, La Jolla, CA 92037 3 Unit Apartment Building Offered at $6,995,000 at a 6.70% Cap Rate La Jolla, CA 92037
INVESTMENT HIGHLIGHTS
- “LIVE • EARN • ENTERTAIN”
- Walking distance to shops, dining, and the beach
- Located in the heart of La Jolla Village
- Ideal for multi-generational living or income-producing vacation rentals
EXECUTIVE SUMMARY
Enjoy the La Jolla Village lifestyle in this fabulously recently remodeled 4,637 sq ft unique Triplex compound: starting with your very own detached Smart Home of 4 bedrooms, 3 bathrooms, and 2,783 sq ft of living space; a separately detached Duplex of 1,854 sq ft in the rear fenced of the property with its very own front access through Bishops Lane. Each Unit of the two story Duplex has 2 bedrooms and 1 bathroom. Each have their own address and separate fenced off entrances with 3 assigned parking spaces and EV charger stations; a total of 6 parking spaces on Bishops Lane. The bottom Unit has 962 sq ft and the top unit with Ocean Views has 862 sq ft. Both Units come Fully Furnished down to curtains, TVs, pots, pans, towels and utensils to be Vacation Rental Ready on day one of ownership to start generating great income!
The Front House has a 1,600 sq ft entertaining rooftop with Ocean Views, fireplace, and BBQ. The home has also been recently remodeled with Smart and high end features like hidden blackout shades in bedrooms, LED lighting, Speakers, Spring Water Faucets around home, heated bathroom floors, screens, camera surveillance and much more!
The Front House has a 1,600 sq ft entertaining rooftop with Ocean Views, fireplace, and BBQ. The home has also been recently remodeled with Smart and high end features like hidden blackout shades in bedrooms, LED lighting, Speakers, Spring Water Faucets around home, heated bathroom floors, screens, camera surveillance and much more!
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$507,490
|
$109.44
|
| Other Income |
$1,200
|
$0.26
|
| Vacancy Loss |
$153,992
|
$33.21
|
| Effective Gross Income |
$354,698
|
$76.49
|
| Taxes |
$85,485
|
$18.44
|
| Operating Expenses |
$91,665
|
$19.77
|
| Total Expenses |
$177,150
|
$38.20
|
| Net Operating Income |
$177,548
|
$38.29
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $507,490 |
| Annual Per SF | $109.44 |
| Other Income | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.26 |
| Vacancy Loss | |
|---|---|
| Annual | $153,992 |
| Annual Per SF | $33.21 |
| Effective Gross Income | |
|---|---|
| Annual | $354,698 |
| Annual Per SF | $76.49 |
| Taxes | |
|---|---|
| Annual | $85,485 |
| Annual Per SF | $18.44 |
| Operating Expenses | |
|---|---|
| Annual | $91,665 |
| Annual Per SF | $19.77 |
| Total Expenses | |
|---|---|
| Annual | $177,150 |
| Annual Per SF | $38.20 |
| Net Operating Income | |
|---|---|
| Annual | $177,548 |
| Annual Per SF | $38.29 |
PROPERTY FACTS
| Price | $6,995,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $2,331,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.70% | Building Size | 4,637 SF |
| Gross Rent Multiplier | 13.69 | No. Stories | 3 |
| No. Units | 3 | Year Built/Renovated | 1988/2025 |
| Property Type | Multifamily | Parking Ratio | 2.16/1,000 SF |
| Zoning | R-2:MINOR - R-2:MINOR | ||
| Price | $6,995,000 |
| Price Per Unit | $2,331,667 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 13.69 |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 4,637 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1988/2025 |
| Parking Ratio | 2.16/1,000 SF |
| Zoning | R-2:MINOR - R-2:MINOR |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Ceiling Fans
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Surround Sound
- Walk-In Closets
- Wi-Fi
- Yard
- Deck
- Dining Room
- Double Pane Windows
- Family Room
- Freezer
- Intercom
- Office
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
- Floor to Ceiling Windows
SITE AMENITIES
- Wi-Fi
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+3 | 1 | $21,000 | 2,783 |
| 2+1 | 2 | $10,500 | 892 - 962 |
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 351-061-25 | Total Assessment | $3,060,000 |
| Land Assessment | $2,754,000 | Annual Taxes | $85,485 ($18.44/SF) |
| Improvements Assessment | $306,000 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
351-061-25
Land Assessment
$2,754,000
Improvements Assessment
$306,000
Total Assessment
$3,060,000
Annual Taxes
$85,485 ($18.44/SF)
Tax Year
2025
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7372 Fay Ave - 7372-76 Fay Ave, La Jolla, CA 92037
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