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827-833 Opal Street 827 Opal St 5 Unit Apartment Building $2,900,000 ($580,000/Unit) 3.18% Cap Rate San Diego, CA 92109
Investment Highlights
- Exceptionally large units. 2bds average 1,044 SF.
- Three single-car garages accessed from the alley, with potential for ADU conversion.
- Walking distance to Pacific Beach's most popular restaurants & nightlife.
- Renovation upside.
- One block to beach & Pacific Ocean.
Executive Summary
827–833 Opal Street presents a rare opportunity to acquire a well located multifamily asset located just 1.5 blocks from the beach in the highly desirable North Pacific Beach submarket of San Diego. The property consists of five (5) units on two separate parcels, including one (1) studio and four (4) exceptionally large two-bedroom units
(2bd/1.5ba and 2bd/2ba). The two-bedroom units average approximately 1,044 square feet. Thoughtfully constructed, the units offer a condo-like living experience with spacious living rooms, fireplaces, and abundant storage.
Unit interiors are well maintained but largely in original condition. A future investor could remodel the units with high-end finishes and additional amenities such as in-unit washer and dryers to raise rents significantly. The property includes three single-car garages accessed from the alley, with potential for ADU conversion.
(2bd/1.5ba and 2bd/2ba). The two-bedroom units average approximately 1,044 square feet. Thoughtfully constructed, the units offer a condo-like living experience with spacious living rooms, fireplaces, and abundant storage.
Unit interiors are well maintained but largely in original condition. A future investor could remodel the units with high-end finishes and additional amenities such as in-unit washer and dryers to raise rents significantly. The property includes three single-car garages accessed from the alley, with potential for ADU conversion.
Property Facts In Escrow
| Price | $2,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $580,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 3.18% | Building Size | 4,448 SF |
| Gross Rent Multiplier | 16.6 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-1-1 - Residential Multifamily | ||
| Price | $2,900,000 |
| Price Per Unit | $580,000 |
| Sale Type | Investment |
| Cap Rate | 3.18% |
| Gross Rent Multiplier | 16.6 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 4,448 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.57/1,000 SF |
| Zoning | RM-1-1 - Residential Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,895 | 274 |
| 2+1.5 | 3 | $3,155 | 1,000 - 1,018 |
| 2+2 | 1 | $2,955 | 1,139 |
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 415-323-30 | Improvements Assessment | $162,856 |
| Land Assessment | $325,726 | Total Assessment | $488,582 |
Property Taxes
Parcel Number
415-323-30
Land Assessment
$325,726
Improvements Assessment
$162,856
Total Assessment
$488,582
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