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830 Park Blvd
San Diego, CA 92101
6.5% CAP Rate in Downtown SD · Multifamily Property For Sale
·
24 Units
Investment Highlights
- Located in Downtown San Diego
- $206,250/unit + 6.5% CAP Rate
- Value-Add Opportunity w/ 20% Upside in Rental Income
- Low Price/Unit + High CAP Rate Property
- Common Area Rooftop Lounge
- (99) Walkscore Nearby Shops, Restaurants, Transit and Petco Park
Executive Summary
The Apartment Homes on Park Blvd is an incredible investment opportunity located in the heart of Downtown San Diego (East Village). Situated on a 5,130sf parcel, the property consists of eighteen (18) studio units, and (6) 1Bedroom / 1Bathroom units. Tenants enjoy a common area rooftop lounge and walkability to shops, restaurants, transit, and Petco Park (99 WalkScore).
Located on the corner of Park Blvd & F St, this asset uniquely offers an investor the combination of high in-place cash flow, 20% upside in rental income, and a low price/unit with minimal property maintenance. This building is perfect for an investor looking for a central location with a high CAP rate.
Located on the corner of Park Blvd & F St, this asset uniquely offers an investor the combination of high in-place cash flow, 20% upside in rental income, and a low price/unit with minimal property maintenance. This building is perfect for an investor looking for a central location with a high CAP rate.
Property Facts
| Price Per Unit | $206,250 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.50% | Lot Size | 0.12 AC |
| Gross Rent Multiplier | 9.56 | Building Size | 11,535 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1910/2018 |
| Zoning | CCPD-RE | ||
| Price Per Unit | $206,250 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 9.56 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 11,535 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2018 |
| Zoning | CCPD-RE |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Double Pane Windows
- Instant Hot Water
- Smoke Free
Site Amenities
- Laundry Facilities
- Property Manager on Site
- Security System
- Furnished Units Available
- Grill
- Recycling
- Smoke Free
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | $1,796 | 450 |
| 1+1 | 6 | $1,796 | 550 |
Property Taxes
| Parcel Number | 534-334-07 | Improvements Assessment | $1,578,936 |
| Land Assessment | $2,451,771 | Total Assessment | $4,030,707 |
Property Taxes
Parcel Number
534-334-07
Land Assessment
$2,451,771
Improvements Assessment
$1,578,936
Total Assessment
$4,030,707
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