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7409-7415 Eads Ave 5 Unit Apartment Building $4,850,000 ($970,000/Unit) La Jolla, CA 92037
Investment Highlights
- Located in the Heart of the Village (La Jolla)
- Rents 15% Below Market plus upside to charge for RUBS and 4 Garages
- Great Unit Mix - 2BR House, 1BR Cottage, Studio & Two 1BR/1Bath Apartment Units
- .24 ACRE Lot with Development Potential
- Potential Vacation Rental Conversion
- Walk to La Jolla Cove & Windansea Beach (97 Walk Score = Walker's Paradise)
Executive Summary
7409–7415 Eads Ave is a garden-style five-plex located in the heart of The Village in La Jolla. The property sits on a beautifully landscaped 10,530 sq. ft. (.24-acre) lot and offers significant development potential. The site includes multiple structures: a 2BR/1BA house, a 1BR/1BA cottage, two apartment units, a studio cottage, plus four private garages and additional off-street parking spaces.
Current rents are below market, giving a new investor a clear path to increasing income. There is potential to build two brand-new units and to convert the four garages into two ADUs, allowing for up to four additional dwelling units. A new owner could also implement a RUBS utility reimbursement program and/or charge for the private garages to further improve cash flow.
Vacation Rental Potential- La Jolla is known as one of Southern California’s most desirable Vacation Destinations. With hundred’s off attractions including swimming,
kayaking, watching sea lions a the La Jolla Cove, hiking Torrey Pines State Natural Reserve, and visiting the Birch Aquarium, La Jolla is a year-round vacations spot for tourist around the world. Many nearby properties have transitioned into full or part time Vacation Rentals to drastically increase their NOI. 7409-7415 Eads has the potential to generate over $425,000/year in income.
AVERAGE VACATION RENTAL NIGHTLY RATES
• 2BR - $485
• 1BR - $360
• Studio - $250
3 – 1BR @ $360/night X 20 Nights = $21,600
1 - 2BR @ $485/night X 20 Nights = $9,160
1 – Studio @ $250/night X 20 Nights = $5,000
$35,760/ Month or $429,000/ Year
Current rents are below market, giving a new investor a clear path to increasing income. There is potential to build two brand-new units and to convert the four garages into two ADUs, allowing for up to four additional dwelling units. A new owner could also implement a RUBS utility reimbursement program and/or charge for the private garages to further improve cash flow.
Vacation Rental Potential- La Jolla is known as one of Southern California’s most desirable Vacation Destinations. With hundred’s off attractions including swimming,
kayaking, watching sea lions a the La Jolla Cove, hiking Torrey Pines State Natural Reserve, and visiting the Birch Aquarium, La Jolla is a year-round vacations spot for tourist around the world. Many nearby properties have transitioned into full or part time Vacation Rentals to drastically increase their NOI. 7409-7415 Eads has the potential to generate over $425,000/year in income.
AVERAGE VACATION RENTAL NIGHTLY RATES
• 2BR - $485
• 1BR - $360
• Studio - $250
3 – 1BR @ $360/night X 20 Nights = $21,600
1 - 2BR @ $485/night X 20 Nights = $9,160
1 – Studio @ $250/night X 20 Nights = $5,000
$35,760/ Month or $429,000/ Year
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$196,260
|
$80.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$196,260
|
$80.37
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$88,790
|
$36.36
|
| Net Operating Income |
$107,470
|
$44.01
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $196,260 |
| Annual Per SF | $80.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $196,260 |
| Annual Per SF | $80.37 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $88,790 |
| Annual Per SF | $36.36 |
| Net Operating Income | |
|---|---|
| Annual | $107,470 |
| Annual Per SF | $44.01 |
Property Facts
| Price | $4,850,000 | Building Class | B |
| Price Per Unit | $970,000 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 2,442 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Parking Ratio | 2.04/1,000 SF |
| Zoning | R2 | ||
| Price | $4,850,000 |
| Price Per Unit | $970,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 2,442 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | R2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,995 | 472 |
| 1+1 | 1 | $3,560 | 800 |
| 1+1 | 2 | $3,140 | 663 |
| 2+1 | 1 | $4,520 | 1,000 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 351-061-01 | Improvements Assessment | $239,252 |
| Land Assessment | $574,229 | Total Assessment | $813,481 |
Property Taxes
Parcel Number
351-061-01
Land Assessment
$574,229
Improvements Assessment
$239,252
Total Assessment
$813,481
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7409-7415 Eads Ave
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